trueTrue/FalseA disadvantage of protection from import competition is the added cost of continuing to produce a good domestically that could be supplied more efficiently by an international supplier.trueTrue/FalseThe automobile industry is typically protected for national security reasons.false
True/FalseProducts that are of use in both industrial and military applications are designated as dual-use products.falseTrue/FalseThe most common economic reason for nations attempts to influence international trade is preserving national security.falseTrue/FalseThe protection of infant industries by a nation's government can cause domestic companies to become complacent toward innovation.trueTrue/FalseThe protection of infant industries by a nation's government can cause more economic harm than good.trueTrue/FalseThe main cultural motive behind government intervention in trade includes protection of domestic jobs.falseTrue/FalseUnwanted cultural influence in a nation can cause governments to block imports that it believesare harmful.trueTrue/FalseReceiving financing from government agencies is often crucial to the success of small businessesjust beginning to export.trueTrue/FalseThe major purpose of foreign trade zones is to implement barriers to trade and commerce.falseTrue/FalseCustoms duties decrease the total amount of a good's production cost.falseTrue/FalseAn import tariff is levied by the government of a country that a product is passing through on itsway to its final destination.falseTrue/FalseTransit tariffs have been almost entirely eliminated worldwide through international trade agreements.true
True/FalseA compound tariff on an imported product is calculated partly as a percentage of its stated priceand partly as a specific fee for each unit.trueTrue/FalseTariffs are a source of government revenue mostly among developing nations.trueTrue/FalseTariffs tend to exact a cost on countries as a whole because they lessen citizens' gains from trade.trueTrue/FalseConsumers are benefitted when a government imposes import quotas on products.falseTrue/FalseA voluntary export restraint refers to a quota that a nation imposes on its exports, usually at therequest of another nationtrueTrue/FalseAn embargo is the most restrictive nontariff trade barrier available.trueTrue/FalseRestrictions on the convertibility of one currency into others is called administrative delays.falseTrue/FalseWhen one World Trade Organization member files a complaint against another, decisions are to be rendered in less than one year.trueTrue/FalseWhen a company exports a product at a price higher than the price normally charged in its domestic market, it is said to be dumping.
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