Copyright Cengage Learning. Powered by Cognero.
Page 55
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:11 AM
DATE MODIFIED:
7/4/2016 7:30 AM
127. Suppose that Mexico is a small country and it imposes a tariff on imports. This results in
a.
an improving terms of trade for Mexico
b.
a worsening terms of trade for Mexico
c.
no change in the terms of trade for Mexico
d.
any of the above
ANSWER:
c
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:16 AM
DATE MODIFIED:
7/5/2016 3:21 AM
128. A country gains from international trade when its post-trade consumption point
a.
lies outside its production possibilities curve
b.
lies along its production possibilities curve
c.
lies inside its production possibilities curve
d.
any of the above
a
1
Multiple Choice
False
7/4/2016 7:20 AM
7/5/2016 3:22 AM
129. Suppose that Canada levies a tariff on imports that is a fixed percentage of the product’s price. This refers
a.
a compound tariff
b.
an ad valorem tariff
c.
a specific tariff
d.
an effective tariff
ANSWER:
b
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Page 56
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Costs of production
TOPICS:
Types of Tariffs
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:22 AM
DATE MODIFIED:
7/4/2016 7:28 AM
130. Suppose that Mexico levies a tariff on steel that is collected as a fixed amount of money per ton imported. This refers
to
a.
a compound tariff
b.
an ad valorem tariff
c.
a specific tariff
d.
an effective tariff
ANSWER:
c
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Costs of production
TOPICS:
Types of Tariffs
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:25 AM
DATE MODIFIED:
7/4/2016 7:28 AM
131. In general, tariffs tend to have
a.
only protective effects
b.
only consumption effects
c.
only revenue effects
d.
revenue effects, protective effects, and consumption effects
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 7:31 AM
DATE MODIFIED:
7/4/2016 7:33 AM
Copyright Cengage Learning. Powered by Cognero.
Page 57
132. Suppose that Germany levies a tariff on oranges, but none are grown in Germany. This tariff has
a.
only a protective effect
b.
only a revenue effect
c.
both a protective effect and revenue effect
d.
neither a protective effect nor revenue effect
ANSWER:
b
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: The role of money
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:33 AM
DATE MODIFIED:
7/4/2016 7:36 AM
133. If Brazil levies a tariff that prohibits imports of oil, the tariff has
a.
only a protective effect
b.
only a revenue effect
c.
both a revenue effect and a protective effect
d.
neither a revenue effect nor a protective effect
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:37 AM
DATE MODIFIED:
7/4/2016 7:39 AM
134. The revenue that producers receive over and above the minimum necessary for production is called
a.
deadweight loss
b.
deadweight gain
c.
producer surplus
d.
consumer surplus
ANSWER:
c
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
Copyright Cengage Learning. Powered by Cognero.
Page 58
STATE STANDARDS:
United States – PA – DISC: Productivity and growth
TOPICS:
Tariff Welfare Effects: Consumer Surplus and Producer Surplus
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 7:39 AM
DATE MODIFIED:
7/4/2016 7:42 AM
135. The difference between the maximum amount buyers are willing to pay for a given quantity of a good and the
amount actually paid is called
a.
deadweight loss
b.
deadweight gain
c.
producer surplus
d.
consumer surplus
ANSWER:
d
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: The role of money
TOPICS:
Tariff Welfare Effects: Consumer Surplus and Producer Surplus
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 7:43 AM
DATE MODIFIED:
7/5/2016 12:00 AM
136. If Ecuador is considered to be a “small” country, a tariff will ______ increase its national welfare.
a.
never
b.
always
c.
sometimes
ANSWER:
a
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:45 AM
DATE MODIFIED:
7/4/2016 8:07 AM
137. If Germany is considered to be a “large” country, a tariff will ______ increase its national welfare.
a.
never
b.
always
c.
sometimes
ANSWER:
c
POINTS:
1
Copyright Cengage Learning. Powered by Cognero.
Page 59
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Large Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:47 AM
DATE MODIFIED:
7/5/2016 12:00 AM
138. Suppose that Japan levies a 40 percent on pickup trucks and a 20 percent on engines. The effective rate of protection
on pickup trucks
a.
more than the nominal rate of protection on pickup trucks
b.
less than the nominal rate of protection on pickup trucks
c.
is equal to the nominal rate of protection on pickup trucks
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Costs of production
TOPICS:
Effective Rate of Protection
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:49 AM
DATE MODIFIED:
7/4/2016 7:51 AM
139. For industrial nations, tariffs on raw materials generally are
a.
higher than on manufactured products
b.
lower than on manufactured products
c.
equal to tariffs on manufactured products
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Costs of production
TOPICS:
Tariff Escalation
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:51 AM
DATE MODIFIED:
7/4/2016 7:54 AM
140. The U.S. constitution allows the country to levy tariffs
a.
only on exports
b.
only on imports
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Page 60
c.
on both exports and imports
d.
on neither exports nor imports
ANSWER:
b
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
The Tariff Concept
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:54 AM
DATE MODIFIED:
7/4/2016 7:56 AM
141. For developing countries, import tariffs generally are ______ than tariff levels in advanced countries
a.
higher
b.
lower
c.
the same as
ANSWER:
a
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
The Tariff Concept
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 7:56 AM
DATE MODIFIED:
7/4/2016 7:58 AM
142. For a large nation, the levying of an import tariff on steel
a.
necessarily causes the nation’s welfare to decline
b.
causes price of steel on the world market to decline
c.
causes the price of steel for domestic consumers to rise by the full amount of the tariff
d.
necessarily causes the nation’s welfare to increase
ANSWER:
b
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Large Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 7:59 AM
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Page 61
DATE MODIFIED:
7/4/2016 8:00 AM
143. When no imported inputs are used in the production of computers, the effective tariff rate on computers
a.
exceeds the nominal tariff rate on computers
b.
is less than the nominal tariff rate on computers
c.
equals the nominal tariff rate on computers
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Effective Rate of Protection
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 8:01 AM
DATE MODIFIED:
7/4/2016 8:03 AM
144. If the world price is $40, a specific tariff of $10 is equivalent to an ad valorem tariff of
a.
$10
b.
$20
c.
20 percent
d.
25 percent
ANSWER:
d
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Types of Tariffs
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 8:03 AM
DATE MODIFIED:
7/4/2016 8:06 AM
145. When a manufacturing firm uses some imported inputs in the production process, the appropriate measure of
protection is the nominal tariff.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Costs of production
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Page 62
TOPICS:
Effective Rate of Protection
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 11:05 PM
DATE MODIFIED:
7/4/2016 11:09 PM
146. Assume that Japan is a large country and levies an “optimal tariff.” Therefore, the tariff’s terms of trade effect more
than offsets the consumption and production losses and results in an overall welfare gain.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Gains from trade, speciali – DISC: Gains from trade,
specialization and trade
TOPICS:
Tariff Welfare Effects: Large Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:10 PM
DATE MODIFIED:
7/4/2016 11:13 PM
147. If Venezuela is a small country, its terms of trade will improve when it levies a tariff on imports.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:13 PM
DATE MODIFIED:
7/4/2016 11:16 PM
148. If Japan is a large country, it cannot influence the terms of trade when it imposes a tariff on imports.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
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Page 63
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Large Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:16 PM
DATE MODIFIED:
7/4/2016 11:18 PM
149. If a small country levies a tariff on imports, its overall national welfare necessarily falls.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:18 PM
DATE MODIFIED:
7/4/2016 11:20 PM
150. The placing of a tariff on imports will necessarily improve the national welfare of a large country, but it will worsen
the national welfare of a small country.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Welfare Effects: Large Nation Model
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:20 PM
DATE MODIFIED:
7/4/2016 11:22 PM
151. For a small country, free trade results in a higher level of national welfare than tariff protection.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
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Page 64
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Arguments for Trade Restrictions
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:22 PM
DATE MODIFIED:
7/4/2016 11:23 PM
152. Throughout the world, most countries tend to have about the same tariff levels.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Escalation
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:24 PM
DATE MODIFIED:
7/4/2016 11:25 PM
153. The deadweight losses of a tariff consist of the sum of the protective effect plus the consumption effect.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Costs of production
TOPICS:
Tariff Welfare Effects: Small Nation Model
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 11:26 PM
DATE MODIFIED:
7/4/2016 11:27 PM
154. For many industrial countries, import tariffs tend to increase with stages of processing and manufacturing.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
Copyright Cengage Learning. Powered by Cognero.
Page 65
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariff Escalation
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:27 PM
DATE MODIFIED:
7/4/2016 11:28 PM
155. During the Great Recession of 2007-2009, countries increased import tariffs to protect their producers damaged by
foreign competition.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Types of Tariffs
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 11:29 PM
DATE MODIFIED:
7/4/2016 11:30 PM
156. Concerning U.S. tariff policy, the offshore assembly provision (OAP) provides unfavorable treatment to products
assembled abroad from U.S. made components.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Productivity and growth
TOPICS:
Outsourcing and Offshore Assembly Provision
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 11:30 PM
DATE MODIFIED:
7/4/2016 11:32 PM
157. Tariff avoidance is the legal utilization of the tariff system to one’s own advantage in order to reduce the amount of
tariff that is payable by means that are within the law.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
Copyright Cengage Learning. Powered by Cognero.
Page 66
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: The role of government
TOPICS:
Dodging Import Tariffs: Tariff Avoidance and Tariff Evasion
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 11:32 PM
DATE MODIFIED:
7/4/2016 11:35 PM
158. Tariff evasion occurs when individuals or firms escape tariffs by illegal means such as smuggling imported goods
into a country.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: The role of government
TOPICS:
Dodging Import Tariffs: Tariff Avoidance and Tariff Evasion
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 11:36 PM
DATE MODIFIED:
7/4/2016 11:37 PM
159. A foreign-trade zone (FTZ) is an area within the United States where business can operate without the responsibility
of paying customs duties on imported products or materials for as long as they remain within this area and do not enter the
U.S. marketplace.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Postponing Import Tariffs
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 11:38 PM
DATE MODIFIED:
7/4/2016 11:39 PM
160. Empirical studies show that virtually all U.S. import tariffs are “progressive” in that they bear down harder on upper
income groups than lower income groups.
a.
True
b.
False
ANSWER:
False
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Page 67
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Tariffs and the Poor
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:40 PM
DATE MODIFIED:
7/4/2016 11:41 PM
161. Frederic Bastiat’s “Petition of the Candle Makers” was a satire that illustrated the disadvantages of free trade as
opposed to protectionism.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Arguments for Trade Restrictions
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/4/2016 11:41 PM
DATE MODIFIED:
7/4/2016 11:44 PM
162. A worker is likely to benefit from a tariff in the short run if the worker is employed in the industry that is protected
by the tariff.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Labor markets
TOPICS:
How a Tariff Burdens Exporters
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/4/2016 11:44 PM
DATE MODIFIED:
7/4/2016 11:47 PM