Answer the following statements true (T) or false (F)
1.The purpose of international dumping is to decrease a firm's costs and increase its profits, compared to what would be realized in the absence of dumping.
2.A firm granting lifetime employment to its workers has the incentive to engage in international dumping during periods of business recession and excess production capacity.
3.A firm suffering idle plant capacity would minimize losses by selling its product abroad at a lower price than at home, provided that the foreign price more than covers average variable cost.
4.Under U.S. antidumping law, an antidumping duty can be levied when the U.S. Commerce Department determines that a foreign product is being sold in the United States at less than fair value and the U.S. International Trade Commission determines that the dumped product is causing economic harm to domestic producers.
5.The margin of dumping equals the amount by which the foreign price is greater than the domestic price, or the amount by which the foreign price exceeds the cost of production.
1.False
2.True
3.True
4.True
5.False
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