Chapter 5 Nontariff Trade Barriers
Anti-dumping duty a duty levied against commodities a home nation believes are
being dumped into its markets from abroad.
Absolute quota physical restriction on the quality of goods that ca
February 22, 2016
5. Correct Answer = C A comparative advantage in Y
7. Correct Answer = D China, Mexico, Germany, Canada, Japan
8. Correct Answer = A - Costs do not vary with the level of output
March 14, 2016
Chapter 7 Summary
Chapter 7 Trade Policies for the Developing Nations
Advanced Nations North America, Western Europe, Australia, New Zealand and Japan.
Developing Nations Africa, Asia, Latin America, and the Middle East
Chapter 8 Regional Trading Arrangements
1) How can trade liberalization exist on a nondiscriminatory basis versus a discriminatory
basis? What are some actual examples of each?
a. Trade liberalization can exist on
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How a nation could regulate its domestic and international affairs to promote its own
o Favorable trade balance = surplus of exports over imports
Critics = David Humes price-spe