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Prior to the beginning of summer, the government of Japan places a 150 percent tariff on imported chain saws. Assume for this example that this tariff has a significant impact on the supply of chain saws. The government's action:
Prior to the beginning of summer, the government of Japan places a 150 percent tariff on imported chain saws. Assume for this example that this tariff has a significant impact on the supply of chain saws. The government's action:
In the context of foreign trade, limits on the amounts of imports a country allows over some period are best described as:
In the context of foreign trade, limits on the amounts of imports a country allows over some period are best described as:
Which of the following arguments in favor of trade restrictions is least likely to be supported by economists?
Which of the following arguments in favor of trade restrictions is least likely to be supported by economists?
Two countries trade freely with each other and have agreed to specific tariffs on imports from other countries. The workers in either country may freely cross the common border to work in the other country. The two countries have agreed to common economic policies, but they use separate currencies. This type of cooperation is best described as a(n):
Two countries trade freely with each other and have agreed to specific tariffs on imports from other countries. The workers in either country may freely cross the common border to work in the other country. The two countries have agreed to common economic policies, but they use separate currencies. This type of cooperation is best described as a(n):
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The form of regional trading agreement (RTA) least likely to have the unintended negative effect of reducing a member country's low-cost imports from a non-member country is a:
The form of regional trading agreement (RTA) least likely to have the unintended negative effect of reducing a member country's low-cost imports from a non-member country is a:
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The primary benefits derived from tariffs usually accrue to:
The primary benefits derived from tariffs usually accrue to:
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If a country imposes a tariff on an imported good, which groups will most likely be harmed by the tariff?
If a country imposes a tariff on an imported good, which groups will most likely be harmed by the tariff?
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Which of the items below is NOT a valid reason why nations adopt trade restrictions? To:
Which of the items below is NOT a valid reason why nations adopt trade restrictions? To:
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Costs of international trade are most likely borne by:
Costs of international trade are most likely borne by:
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In the context of international trading blocs, the primary feature of an economic union that distinguishes it from a common market is the adoption of a common:
In the context of international trading blocs, the primary feature of an economic union that distinguishes it from a common market is the adoption of a common:
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Regional trade agreements exist primarily to:
Regional trade agreements exist primarily to:
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Which of the following lists of trading blocs is most accurately ordered by degree of economic integration, from least to most integrated?
Which of the following lists of trading blocs is most accurately ordered by degree of economic integration, from least to most integrated?
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Which of the following groups in the country of Minidonia would least likely be helped by the imposition of tariffs on Minidonian imports of transportation equipment?
Which of the following groups in the country of Minidonia would least likely be helped by the imposition of tariffs on Minidonian imports of transportation equipment?
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In what way does a tariff differ from a quota? A tariff is imposed:
In what way does a tariff differ from a quota? A tariff is imposed:
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David Forsythe and Linda Novak are discussing the advantages and disadvantages of import restrictions. They state the following:
Forsythe: One of the groups that benefits from import restrictions is often the government that imposes them.
Novak: Import restrictions impose costs on specific groups, such as the country's import industries, but these costs are more than offset by the benefits to other groups and to the economy as a whole.
With respect to these statements:
David Forsythe and Linda Novak are discussing the advantages and disadvantages of import restrictions. They state the following:
Forsythe: One of the groups that benefits from import restrictions is often the government that imposes them.
Novak: Import restrictions impose costs on specific groups, such as the country's import industries, but these costs are more than offset by the benefits to other groups and to the economy as a whole.
With respect to these statements:
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Which group is most likely to benefit from a quota imposed on imports of a good?
Which group is most likely to benefit from a quota imposed on imports of a good?
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Country P begins importing goods from Country Q. In the long run, benefits from this trade relationship will most likely accrue to:
Country P begins importing goods from Country Q. In the long run, benefits from this trade relationship will most likely accrue to:
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Which form of regional trading agreement is least likely to allow free movement of labor?
Which form of regional trading agreement is least likely to allow free movement of labor?
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Which of the following statements about the costs and benefits of international trade is most accurate?
Which of the following statements about the costs and benefits of international trade is most accurate?
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The most integrated type of trading bloc or regional trade agreement is a(n):
The most integrated type of trading bloc or regional trade agreement is a(n):
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The least likely result of import quotas and voluntary export restraints is:
The least likely result of import quotas and voluntary export restraints is:
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Who benefits least from tariffs?
Who benefits least from tariffs?
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An anti-dumping restriction on trade:
An anti-dumping restriction on trade:
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