Answer the following statements true (T) or false (F)
1.A tariff quota is a combination of a specific tariff and an ad valorem tariff.
2.A specific tariff is expressed as a fixed percentage of the total value of an imported product.
3.The protective effect of a tariff occurs to the extent that less efficient domestic production is substituted for more efficient foreign production.
4.A tariff can increase the welfare of a "large" country if the favorable terms-of-trade effect is greater than the unfavorable protective effect and consumption effect.
5.If the world price of steel is $600 per ton, a specific tariff of $120 per ton is equivalent to an ad valorem tariff of 25 percent.
1.False
2.False
3.True
4.True
5.False
You might also like to view...
A corporation's residual equity is its
A) preferred stock. B) retained earnings. C) common stock. D) cash.
Sonya and other employees of TransGlobal Inc maintain a password-protected social media page on which they post comments on work-related issues. The posts range from positive to negative, supporting the page's purpose to "vent about work." When TransGlobal learns of the page, the company intimidates Sonya into revealing the password,and after reviewing the posts, fires her and the other participants. Which federal law discussed in this chapter most likely applies to this situation?
Has this law been violated? Discuss.
Which of the following funds are classified as governmental funds?
A. The general and special revenue funds. B. Internal service and capital projects funds. C. Enterprise and agency funds. D. Internal service and debt service funds.
The BCG matrix evaluates an organization's various businesses to identify which ones offer high potential and which ones drain organizational resources.
Answer the following statement true (T) or false (F)