Answer the following statements true (T) or false (F)
1.With a quota placed on imported sugar, increased domestic demand leads to increased sugar imports but NOT to higher sugar prices.
2.With a tariff on auto imports, increased domestic demand leads to a fall in the number of autos imported and a rise in the number of autos produced domestically.
3.An orderly marketing agreement is a market-sharing pact negotiated by trading nations, and its effect is to moderate the intensity of international competition.
4.An elimination of nontariff barriers on apples tends to increase apple imports, reduce profits of import-competing apple producers, and generate job losses for domestic apple workers.
5.The distribution of an import quota's revenue effect depends on the relative concentration of bargaining power between foreign exporters and domestic importers.
1.False
2.False
3.True
4.True
5.True
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