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. TRUE
2. FALSE
3. TRUE
4. FALSE
5. TRUE
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Indicate whether the statement is true or false
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A. Mr. Ed B. Eddie C. Garfield D. The Investor
Technician A says that full hybrid electric vehicles need to be plugged into a standard AC electrical outlet to charge. Technician B says that the high voltage battery in an HEV uses a generator driven by the internal combustion engine for recharging. Which technician is correct?
A) Technician A only B) Technician B only C) Both technicians A and B D) Neither technician A nor B