International Economics Test

Jun 17th, 2015
Studypool Tutor
Price: $15 USD

Tutor description

International Economics Test, MCQ

Word Count: 1649
Showing Page: 1/14
QUESTION 31Refer to Scenario 8.1. The consumption effect of the tariff on wine is worth$250,000.$500,000.$3.5 million.$2.75 million.4.09836 points QUESTION 32A domestic monopoly producing a close substitute of an imported product would prefer to be protected by a quota than a tariff that results in the same amount of imports because:the deadweight loss will be smaller with a quota.after the imposition of the tariff the price of the imported good declines in the domestic market.unlike a tariff, a quota does not generate revenue for the government.a quota allows the firm to charge a higher price.4.09836 points QUESTION 33Which of the following is true of an economic union?Free movement of resources, but restricted movement of goods among the member countriesThe members have a common set of tariffs among themselves but the external tariff rates are determined independentlyFree movement of goods, but restricted movement of resources across the member countriesHarmonization of all economic policies in the member countries4.09836 points QUESTION 34Suppose manufacturing of paper results in substantial ground water pollution. One possible policy that can be used to fix this externality is:to subsidize the production of paper by the domestic impose tax on the production of raise tariff barriers on paper provide tax benefits to the firms exporting pape

Review from student

Studypool Student
" Excellent work as usual "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1831 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors