Question 1

Which of the following statements is true of tariffs?

Accepted Answer

A)  They are the major source of government revenue in developed nations.
B)  They increase products' appeal to buyers.
C)  They lower the effective prices of imports.
D)  They protect domestic producers.E) A) and D)
F) B) and C)

Question 2

Explain why governments impose restrictions on free trade.

Accepted Answer

Governments impose restrictions on free ...

Question 3

Tariffs tend to exact a cost on countries as a whole because they lessen citizens' gains from trade.

Accepted Answer

A) True 
 B)False

Question 4

An additional tariff placed on an imported product that a nation believes is receiving an unfair subsidy is called a(n) ________.

Accepted Answer

A)  countervailing duty
B)  ad valorem tariff
C)  antidumping duty
D)  compound tariffE) B) and C)
F) A) and D)

Question 5

Rice imports to a nation under a quota limit of 8,500 tons are charged a tariff of 15 percent.Imports of rice above the quota limit are charged a tariff of 60 percent.This is an example of a(n) ________.

Accepted Answer

A)  export quota
B)  voluntary export restraint
C)  ad valorem tariff
D)  tariff-quotaE) All of the above
F) None of the above

Question 6

Konesia Joins the World
Konesia,a former totalitarian economy and pariah state,is taking steps toward a free market economy.The government wants to encourage trade but also wants to find a balance so that local businesses and industries are not harmed.
-Konesia has created a hybrid form of trade restriction-a lower tariff rate for a certain quantity of imports and a higher rate for quantities that exceed the quota.This is an example of a(n) ________.

Accepted Answer

A)  compound tariff
B)  export quota
C)  ad valorem tariff
D)  tariff-quotaE) A) and C)
F) None of the above

Question 7

The ________ altered the U.S.trade policy from a stance of free trade to one of protectionism in the 1930s.

Accepted Answer

A)  Norris-LaGuardia Act
B)  Smoot-Hawley Act
C)  Wheeler-Lea Act
D)  Taft-Hartley ActE) None of the above
F) A) and B)

Question 8

The pattern of imports and exports that would result in lesser trade barriers is called free trade.

Accepted Answer

A) True 
 B)False

Question 9

________ refers to the unwanted cultural influence in a nation that can cause great distress and lead governments to block imports it believes to be harmful.

Accepted Answer

A)  Cultural imperialism
B)  Cultural protectionism
C)  Dumping
D)  CapitalismE) B) and C)
F) All of the above

Question 10

Which of the following statements is true about cultural influences?

Accepted Answer

A)  Culture and trade are independent of each other.
B)  Unwanted cultural influence in a nation can cause governments to block imports that it believes are harmful.
C)  The cultures of countries are independent of the effects of exposure to the people and products of other cultures.
D)  The culture of the United States is readily adapted into the local culture of countries all over the world.E) All of the above
F) B) and C)

Question 11

Receiving financing from government agencies is often crucial to the success of small businesses just beginning to export.

Accepted Answer

A) True 
 B)False

Question 12

Consumers are benefitted when a government imposes import quotas on products.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is an instrument that governments use to promote trade?

Accepted Answer

A)  embargoes
B)  tariffs
C)  export financing
D)  administrative delaysE) A) and D)
F) A) and B)

Question 14

Unwanted cultural influence in a nation can cause governments to block imports that it believes are harmful.

Accepted Answer

A) True 
 B)False

Question 15

Financial assistance given to domestic producers in the form of cash payments is an example of a(n) ________.

Accepted Answer

A)  ad valorem tariff
B)  quota
C)  subsidy
D)  export tariffE) A) and B)
F) A) and C)

Question 16

Which of the following is the main cultural motive behind government intervention in trade?

Accepted Answer

A)  promotion of strategic trade policies
B)  protection of jobs
C)  protection of national identity
D)  protection of young industries from competitionE) A) and D)
F) A) and C)

Question 17

A tariff levied by the government of a country that is selling goods abroad is called a(n) ________.

Accepted Answer

A)  export tariff
B)  ad valorem tariff
C)  compound tariff
D)  specific tariffE) B) and C)
F) A) and D)

Question 18

Not-So-Free Freeland
Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy.The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition.
-The belief that Freeland's emerging industries need protection from international competition during their development phase is an example of ________.

Accepted Answer

A)  a local content requirement
B)  a normal trade relation
C)  the infant industry argument
D)  the political motive of FreelandE) None of the above
F) B) and C)

Question 19

Describe the role of special government agencies in promoting exports and imports.

Accepted Answer

The governments of most nations have spe...

Question 20

Government trade promotion agencies ________.

Accepted Answer

A)  enable imports at discounts
B)  set up foreign trade zones across the country
C)  advertise in other countries to promote the nation's exports
D)  place voluntary export restraints on companies that fail to export adequatelyE) B) and C)
F) A) and D)

Exam 6: Political Economy of Trade

The pattern of imports and exports that would result in lesser trade barriers is called free trade.

Correct Answer
verified

Correct Answer
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Government trade promotion agencies ________.

Correct Answer
verified

Correct Answer
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________ refers to the unwanted cultural influence in a nation that can cause great distress and lead governments to block imports it believes to be harmful.

Correct Answer
verified

Which of the following statements is true of tariffs?

Correct Answer
verified

Unwanted cultural influence in a nation can cause governments to block imports that it believes are harmful.

Correct Answer
verified

Consumers are benefitted when a government imposes import quotas on products.

Correct Answer
verified

Which of the following is an instrument that governments use to promote trade?

Correct Answer
verified

Explain why governments impose restrictions on free trade.

Correct Answer
verified
Governments impose restrictions on free ...
View Answer

Describe the role of special government agencies in promoting exports and imports.

Correct Answer
verified
The governments of most nations have spe...
View Answer

Which of the following is the main cultural motive behind government intervention in trade?

Correct Answer
verified

An additional tariff placed on an imported product that a nation believes is receiving an unfair subsidy is called a(n) ________.

Correct Answer
verified

The ________ altered the U.S.trade policy from a stance of free trade to one of protectionism in the 1930s.

Correct Answer
verified

Which of the following statements is true about cultural influences?

Correct Answer
verified

Tariffs tend to exact a cost on countries as a whole because they lessen citizens' gains from trade.

Correct Answer
verified

A tariff levied by the government of a country that is selling goods abroad is called a(n) ________.

Correct Answer
verified

Receiving financing from government agencies is often crucial to the success of small businesses just beginning to export.

Correct Answer
verified

Financial assistance given to domestic producers in the form of cash payments is an example of a(n) ________.

Correct Answer
verified

Rice imports to a nation under a quota limit of 8,500 tons are charged a tariff of 15 percent.Imports of rice above the quota limit are charged a tariff of 60 percent.This is an example of a(n) ________.

Correct Answer
verified

Exam 6: Political Economy of Trade

The pattern of imports and exports that would result in lesser trade barriers is called free trade.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Government trade promotion agencies ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

________ refers to the unwanted cultural influence in a nation that can cause great distress and lead governments to block imports it believes to be harmful.

Correct AnswerverifiedShow Answer

Which of the following statements is true of tariffs?

Correct AnswerverifiedShow Answer

Unwanted cultural influence in a nation can cause governments to block imports that it believes are harmful.

Correct AnswerverifiedShow Answer

Consumers are benefitted when a government imposes import quotas on products.

Correct AnswerverifiedShow Answer

Which of the following is an instrument that governments use to promote trade?

Correct AnswerverifiedShow Answer

Explain why governments impose restrictions on free trade.

Correct AnswerverifiedGovernments impose restrictions on free ...View AnswerShow Answer

Describe the role of special government agencies in promoting exports and imports.

Correct AnswerverifiedThe governments of most nations have spe...View AnswerShow Answer

Which of the following is the main cultural motive behind government intervention in trade?

Correct AnswerverifiedShow Answer

An additional tariff placed on an imported product that a nation believes is receiving an unfair subsidy is called a(n) ________.

Correct AnswerverifiedShow Answer

The ________ altered the U.S.trade policy from a stance of free trade to one of protectionism in the 1930s.

Correct AnswerverifiedShow Answer

Which of the following statements is true about cultural influences?

Correct AnswerverifiedShow Answer

Tariffs tend to exact a cost on countries as a whole because they lessen citizens' gains from trade.

Correct AnswerverifiedShow Answer

A tariff levied by the government of a country that is selling goods abroad is called a(n) ________.

Correct AnswerverifiedShow Answer

Receiving financing from government agencies is often crucial to the success of small businesses just beginning to export.

Correct AnswerverifiedShow Answer

Financial assistance given to domestic producers in the form of cash payments is an example of a(n) ________.

Correct AnswerverifiedShow Answer

Rice imports to a nation under a quota limit of 8,500 tons are charged a tariff of 15 percent.Imports of rice above the quota limit are charged a tariff of 60 percent.This is an example of a(n) ________.

Correct AnswerverifiedShow Answer

Correct Answer
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Governments impose restrictions on free ...
View Answer

Correct Answer
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The governments of most nations have spe...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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