59. Both import quotas and VERs benefit _____ by limiting import competition, but they result
in higher prices, which hurt _____.
60. A(n) _____ requires that some specific fraction of a good must be produced
domestically.
61. Local content regulations provide protection for a domestic producer of parts in much the
same way a(n) _____ does, by limiting foreign competition.
62. Animax Limited got an order to sell 50000 Central Processing Units (CPUs) to Palladia,
but the Palladian government stipulated that 15 percent of the component parts of those CPUs
must be produced in Palladia. This stipulation by the Palladian government would be example of
a(n):
63. The _____ in the United States specifies that government agencies must give preference
to U.S. products when putting contracts for equipment out to bid unless the foreign products
have a significant price advantage.
64. _____ are bureaucratic rules designed to make it difficult for imports to enter a country.
65. The Palladian government required that all imported products that came from Lovaskiya
be checked by Palladian customs inspectors. The inspection was done at a container freight
station that was both remote and poorly staffed. This delayed the Lovaskiyan consignment from
reaching the consumers in Palladia. The inspection strategy adopted by the customs officers in
Palladia is an example of a(n):
66. In the context of international trade, _____ is defined as selling goods in a foreign market
at a price below their costs of production or as selling goods in a foreign market at below their
“fair” market price.
67. If Argonia exports vast quantities of cheap toys to Cadmia, selling them at below their
costs of production, it would constitute:
68. Dumping involves foreign producers:
69. Which of the following best indicates the motive for foreign firms to engage in dumping?
70. _____ are specific duties representing a special tariff which is imposed for punishing
foreign firms for engaging in dumping and these tend to be fairly substantial and stay in place for
up to five years.
71. Which of the following policies protect domestic producers from unfair foreign
competition?
72. The two US agencies that deal with antidumping complaints are:
73. Which of the following is considered to be the ultimate objective of antidumping
policies?
74. Antidumping duties are often called _____ duties.
75. Which of the following indicates the two paths of arguments for government intervention
in international trade?
76. Which of the following is the most common political argument for government
intervention in international trade?
77. Which of the following industries is most likely to come under the purview of national
security?
78. A country Cadmia, which is a leading producer of bauxite, had to impose trade sanctions
on Cerian soda cans in order to get the government of Ceria to enforce export restrains. This
imposition by Cadmian government was undertaken to protect domestic producers of soda cans.
Which of the following government intervention is being used by Cadmia?