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1.Which of the following situations will arise in the domestic market following the removal of an import quota? a. imports increase, domestic production increases, prices increaseb. imports increase, domestic production decreases, prices decreasec. imports decrease, domestic production increases, prices decreased. imports decrease, domestic production decreases, prices increase
2.The WTO and GATT promote trade bya. reducing tariffs.b. eliminating quotas.c. reducing agricultural subsidies.d. All of these.
3.Which of the following statements is true? a. Free trade will benefit all workers in a nation equally.b. As a result of specialization some workers will be displaced and so harmed in the short run by free trade.c. Free trade leads to lower wages for all workers in both nations.d. Specialization will result in a decline in an industry and none of those workers will be able to find other jobs.
4.Today, the average U.S. tariff is 4.6 percent of the value of imported goods, which is very low by historical standards. TrueFalse
Assume that the you test Linder hypothesis through comparing Germany's absolute difference in per capita income from each of its trading partners with size of Germany's total trade with each respective partner.
In part s of Asia, there are rivers that flow across the borders of more than one country. If the country located upstream on the river chooses to put up a large dam on the river which stops the flow of water to all countries located downstream,
Compare the economic performance of these countries in the postwar period and in 1980s-1990s. Do the economic systems of these countries become more or less similar the last 20 year
With respect to aggregate supply and aggregate demand, what will be most likely to happen when quantity supplied exceeds the quantity demanded?
Assume that the United States and Canada are planning to trade. Suppose there are only two goods in the economy: potatoes and rice.
The Internet has allowed for raised trade in services such as technical support, a development that has lowered the prices of such services related to manufactured goods.
The Big Mac Price Index calculated through the Economist has consistently found the United State dollar to be undervalued against some other major currencies,
For the U.S. perspective, imports are the goods produced by foreigners, imported to the U.S., and consumed by Americans. Exports are the goods produced by Americans, exported to other countries, and consumed by foreigners. U.S. GDP does not includ..
Indian GDP in 2000 was 20.9 trillion rupees, while U.S. GDP was $9.8 trillion. The exchange rate in 2000 was 44.9 rupees per dollar. India turns out to have lower prices than the U.S. (this is true more generally foor poor countires): the price le..
At what prices do U.S. producers sell their cars before and after subsidy is offered. What prices do U.S. consumers feel liked are paying before and after the subsidy is offered (enter your answers in constructed table below).
alicianasaukar and jennifer saukar sisters have been long term employees of nib corp.a company earning 236000 per year
Would you have a higher consumption standard of living by self sufficiently producing all the goods you and your family want to consume through employing your labor time
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