Q1. Trade agreements like the North American Free Trade Agreement (NAFTA) and the General Agreement on Tariffs and Trade (GATT) that lower trade barriers are least likely to: A) increase competition worldwide. B) cause a recession in the United States. C) lead to economic growth.
Q2. Prior to the beginning of the baseball season, the United States government places a tariff on imported bubble gum. Assume for this example that this tariff has a significant impact on the supply of bubble gum. Which of the following statements about the impact of this tariff is least valid? The tariff:
A) will protect the jobs of domestic bubble gum industry workers in the long run. B) will prohibit foreign firms from dumping bubble gum on the U.S. market at below cost. C) is not necessary to maintain the high wages of the U.S. bubble gum industry workers.
Q3. "Import quotas will create jobs, increasing the employment level of a nation." Economic analysis indicates that this statement is incorrect in: A) the long run only. B) the short run only. C) both the long and short run.
Q4. The anti-dumping argument in favor of trade restrictions is the argument that restrictions should be imposed to: A) discourage foreign firms from engaging in price competition. B) prevent foreign firms from selling their product below cost. C) prevent foreign firms from dumping unwanted products in domestic markets.
Q5. Which of the following is a reason why trade with low-wage countries does NOT depress wage rates in high-wage countries? A) When each country produces goods for which it has a comparative advantage, both countries benefit. B) High hourly wage rates mean high per unit labor costs. C) High-wage countries have an advantage in labor-intensive goods.
| 
发表于 2009-1-13 11:05
| 
