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6. Which of the following is not a non-tariff barrier?

a. A quota on sports equipment.

b. A tax equal to 10% of the value on imported crude oil.

c. A voluntary export restraint on automobiles.

d. A regulation requiring government agencies to favor domestic producers.

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Microeconomics
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Understanding Protectionism
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3 Nov 2020
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Related questions

40) The main difference between a tariff and an "equivalent" voluntary export restriction (VER) is that A) a tariff allows the government of the importing country to appropriate the extra market value of the imported good, but with a VER the extra market value accrues to the good's producers. B) a tariff allows the extra market value of the good to accrue to the supplier, but a VER allows the extra market value to be appropriated by the government of the importing country. C) a tariff restricts free trade between two countries and a VER does not. D) a tariff keeps the price in the importing country higher than it would otherwise be; a VER does not. E) none of the above.

1. A government limit on the quantity or total value of imports of a specific product is known as which of the following?

A.An import quota

B.An export subsidy

C.A protective tariff

D.An excise tax

 

2. Suppose there is a policy debate over whether the United States should impose trade restrictions on imported semiconductors:

A congresswoman from a state with several semiconductor factories explains that it is necessary to impose trade restrictions, such as a tariff, on the semiconductor industry to protect workers in the domestic semiconductor industry. The congresswoman claims that without trade protection, there will be layoffs, causing many U.S. workers in the semiconductor industry to be unemployed.

Which of the following justifications is the congresswoman using to argue for the trade restriction on semiconductors?

A.National-security argument

B.Unfair-competition argument

C.Saving-domestic-jobs argument

D.Using-protection-as-a-bargaining-chip argument

E.Infant-industry argument

The largest corporation based in the United States is:

A) General Motors.
B) ExxonMobil.
C) General Electric.
D) Microsoft.

2.

Service exports from the United States equal _____ per year.

A) less than $100 billion
B) approximately $250 billion
C) less than $350 billion
D) approximately $500 billion

3.

In addition to agricultural products and manufactured goods, the United States is also the world's largest exporter of:

A) processed and packaged foods.
B) pharmaceuticals.
C) electronics.
D) business services and retailing.

4.

Before entering a country, marketers need to determine if the country has the required _____ to support their marketing efforts.

A) moral code
B) legal system
C) infrastructure
D) trade bodies

5.

In order for a marketer to operate efficiently in a foreign country, it is crucial that a stable _____ be in place to facilitate trade.

A) free trade agreement
B) tariff
C) infrastructure
D) labor force

6.

Which of the following is not a trade barrier to an exporter?

A) Tariffs
B) Import quotas
C) Subsidies
D) Related party trade

7.

A complete ban on the import of a product is known as a(n):

A) import quota.
B) embargo.
C) revenue tariff.
D) protective tariff.

8.

Exchange control is an administrative barrier to international trade that:

A) requires companies that export to sell foreign currencies to the central bank or other foreign agency, and importers to buy foreign currencies from the same organization.
B) supports domestic industry through grants of money or research support.
C) completely bans the importation of a product.
D) sells products in a foreign market cheaper than they are sold domestically.

9.

When a group of nations agree to the free trade of goods among themselves by abolishing tariffs and trade restrictions, the nations have created a:

A) common market.
B) customs union.
C) trading block.
D) free-trade area.

10.

Which of the following is not an objective of the European Union(EU)?

A) eventually remove all trade barriers to free trade among its members.
B) standardize currencies and regulations between member nations.
C) promote the basic tenets of the WTO and GATT treaty.
D) eventually evolve into an independent political entity.

11.

An organization that provides first-time exporters with expertise in locating foreign buyers, handling paperwork, and conforming to local labeling and testing laws is called a(n):

A) export facilitator.
B) export title company.
C) trade assistance corporation.
D) export management company.

12.

McDonald

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