Answer the following statements true (T) or false (F)
1. A tariff-rate quota limits the quantity of a good imported just like an import quota.
2. The US International Trade Commission is an independent agency of the U.S. government that
investigates alleged violations of U.S. trade law.
3. When a small country importer imposes an import tariff, it experiences a new welfare loss,
while the rest of the world experiences a net welfare gain.
4. A small nation importer always gains from trade diversion.
5. Both U.S. Congress and the Executive Branch share responsibility for the formulation of U.S.
trade policy.
1. FALSE
2. TRUE
3. FALSE
4. FALSE
5. TRUE
You might also like to view...
What is the ancestor of the domestic ferret?
What will be an ideal response?
Technician A says all late model multi-valve engines are interference engines. Technician B says both inline and V-block engines can be interference engines. Who is correct?
A. Technician A B. Technician B C. Both A and B D. Neither A nor B
Technician A says that a defective ground connection at the master control switch (driver's side) could cause the failure of all power windows. Technician B says that if one control wire is disconnected, all windows will fail to operate. Which technician is correct?
A) Technician A only B) Technician B only C) Both technicians A and B D) Neither technician A nor B
A vehicle being inspected under an OBD-II testing program and the MIL is ON. What will be the results of the inspection?
A) The vehicle will fail the test. B) The vehicle will receive an 80% pass rate. C) The vehicle will pass the test. D) None of these