Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask International Economics Expert

problem: When a nation imports a good at a world price below the home country's equilibrium price for that good and then imposes a tariff on the import, what happens to the quantity imported of the good by the home nation?

a) The quantity imported by the home nation increases.
b) The quantity imported by the home nation decreases.
c) The quantity imported by the home nation does not change.
d) Not enough information is given to answer the problem.

problem: Which of the following statements regarding a tariff is FALSE?

a) A tariff always reduces consumer welfare.
b) A tariff always increases producer surplus.
c) A tariff always creates some loss in welfare.
d) A tariff always reduces government revenue for the imposing nation.

problem: When a tariff is imposed on an imported good, what happens to producer surplus in the importing nation?

a) Producer surplus does not change.
b) Producer surplus decreases.
c) Producer surplus increases.
d) Producer surplus is eliminated.

problem: When a nation imports a good at a world price below the home country's equilibrium price for that good, what happens to the quantity imported of the good by the home nation?

a) The quantity imported by the home nation increases.
b) The quantity imported by the home nation decreases.
c) The quantity imported by the home nation does not change.
d) Not enough information is given to answer the problem.

problem: Which of the following is NOT a type of barrier to trade?

a) Ad valorem tariff
b) Specific tariff
c) Import quota
d) Income trade tax

problem: When a tariff is imposed on an imported good, what happens to the price of the imported good in the rest of the world?

a) The price does not change.
b) The price is reduced by the size of the tariff.
c) The price increases by the size of the tariff.
d) The tariff only affects the world price of the good.

problem: When a tariff is imposed on an imported good, what happens to the price of the imported good in the importing nation?

a) The price does not change.
b) The price is reduced by the size of the tariff.
c) The price increases by the size of the tariff.
d) The tariff only affects the world price of the good.

problem: When a nation imports a good at a world price below the home country's equilibrium price for that good, what happens to the quantity supplied of the good by the home nation?

a) The quantity supplied by the home nation increases.
b) The quantity supplied by the home nation decreases.
c) The quantity supplied by the home nation does not change.
d) Not enough information is given to answer the problem.

problem: When a tariff is imposed, some consumer surplus is lost and NOT converted to government revenue. This unrecoverable loss in surplus is called __________.

a) Efficiency loss
b) Terms of trade gain
c) Trade creation
d) Government profit loss

problem: Which of the following statements is TRUE regarding the loss in consumer surplus from a tariff?

a) Lost consumer surplus becomes producer and government welfare gain with no inefficiency.
b) Lost consumer surplus becomes producer and government welfare gain with some inefficiency.
c) Consumer surplus lost becomes deadweight or efficiency loss.
d) Consumer surplus becomes producer surplus exclusively when a tariff is imposed.

International Economics, Economics

  • Category:- International Economics
  • Reference No.:- M9123

Have any Question? 


Related Questions in International Economics

This is an individual essaythis assignment gives you an

This is an individual essay. This assignment gives you an opportunity to explore in greater depth a topic within the subject that happens to interest you. In essence, your assignment should seek to apply some of the econ ...

How do changes in interest rates inflation productivity and

How do changes in interest rates, inflation, productivity, and income affect exchange rates? Is a strong U.S. dollar always good for the U.S. and global economies? Why or why not?

1 list out agenciesfunds noticed by government of india for

1. List out agencies/funds noticed by government of India for the purpose of deemed export benefits. 2. What is the problem of International Liquidity? In what manner this problem has been solved by IMF?   3. What are th ...

International tradethis is an individual essay which

International Trade This is an individual essay, which accounts for 30% of your overall mark. The word limit is 2000 words. The submission deadline is 18:00 AEST on Monday, 3 October 2016, and submissions should be typed ...

Economics assignmentdevelop a 1750-word analysis of the

Economics Assignment Develop a 1,750-word analysis of the international economy in which you do the following: • Analyze measures of economic growth, and comparative and absolute advantage in international trade for the ...

Assignmentflying fish specializes in shipping fresh seafood

Assignment Flying Fish specializes in shipping fresh seafood up and down the coast. To improve service, the company wants to develop an in-house application called 53 (Super Shipping System). When 53 is operational, ship ...

Assignment1 describe the life-cycle of a frontal cyclone

Assignment 1. Describe the life-cycle of a frontal cyclone (also called "wave cyclone" or "midlatitude cyclone"). Draw a diagram if that helps. 2. Describe the weather characteristics (wind, precipitation, temperature) e ...

Market structurein an eight- to 10-page paper describe each

Market Structure In an eight- to 10-page paper, describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, monopoly), provide a real-life example of each market, and ...

Developing economies1 why are some countries today much

Developing Economies 1. Why are some countries today much poorer than other countries? Are today's poor countries destined to always be poorer than today's rich countries? If so, explain why. If not, explain how today's ...

Bullfollowing is the discussion topic on which your

• Following is the discussion topic on which your response needs to be reviewed. Your original response to this discussion is required to be approximately 150 words long. If you pay attention to many of the products and ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate