Duties imposed by the U.S. government on imported Chinese frozen and canned shrimp are an example of:
A. voluntary restrictions.
B. tariffs.
C. quotas.
D. regulatory trade restrictions.
Answer: B
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China has used its current account surplus to:
A. buy stocks on the New York Stock Exchange. B. make loans to foreigners. C. buy U.S. government and agency securities. D. buy German government and agency securities.
Economic activity moves from a period of expansion to a ________ and then moves into a period of ________ until it reaches a ________.
A. peak; recession; trough B. trough; expansion; peak C. peak; expansion; trough D. trough; recession; peak
Which of the following phenomena cannot be explained by the simple comparative advantage theory?
A. A country with a lot of skilled labor tends to export highly technical goods. B. A country that does not have much farmland tends to import agricultural goods. C. A country imports and exports the same goods. D. A country tends to export the goods that it can produce at a lower opportunity cost.
Technological advancements have led to lower prices and an increase in the sale of color laser printers. How does this affect the market for traditional inkjet printers?
A) The demand curve for inkjet printers shifts to the right. B) The quantity of inkjet printers demanded decreases. C) The demand curve for inkjet printers shifts to the left. D) The quantity of inkjet printers demanded increases.