Most New And Latest Economics MCQs – Competitive Tariffs ( Economics ) MCQs
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Latest Economics MCQs
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Latest Tariffs ( Economics ) Mcqs
The most occurred mcqs of Tariffs ( Economics ) in past papers. Past papers of Tariffs ( Economics ) Mcqs. Past papers of Tariffs ( Economics ) Mcqs . Mcqs are the necessary part of any competitive / job related exams. The Mcqs having specific numbers in any written test. It is therefore everyone have to learn / remember the related Tariffs ( Economics ) Mcqs. The Important series of Tariffs ( Economics ) Mcqs are given below:
With free trade the total value of imports would equal ?
A. $600,000 units
B. $400,000 units
C. $100,000 units
D. $800,000 units
Concerning import tariffs of the United States empirical studies tend to conclude that these tariffs are ?
A. deflationary and thus result in reductions in the price of imports
B. regressive and thus bear down on the poor
C. proportional and thus bear down on all consumers in the same manner
D. Progressive and thus bear down on the wealthy
Concerning a government’s trade policy, all the following generally apply except ?
A. When domestic exporting companies are organized, policy tends to favor freer trade
B. because domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:
C. economic downturn and recession generally result in greater protectionism
D. Policy tends to favor freer trade in countries whose imports are inputs into critical industries
Suppose that the nominal tariff rate on finished computers is 12 percent and that the weighted average of the nominal tariff rates on the inputs used in producing computers is 18 percent. Thus, the effective rate of protection for the computer industry must ?
A. be less than 12 percent and can be negative
B. equal 6 percent
C. be less than 12 percent but must be greater than zero
D. exceed 30 percent
Suppose that Pakistan imposes a tariff on ballpoint pens of 25 rupees per pen plus 12 percent of the pen’s value, this is an example of a (an) ?
A. ad valorem tariff
B. specific tariff
C. compound tariff
D. effective tariff
If the world price of steel is $500 a ton a specific tariff $50 is equivalent to an ad valorem tariff of______________?
A. 15 percent
B. 10 percent
C. 5 percent
D. 20 percent
In today’s world, most countries impose tariffs ?0
A. only on imports
B. on both imports and exports
C. only on exports
D. on imports exports and nontraded goods
Domestic producers gain ________ because on the tariff?
A.$120,000
B. $75,000
C. $50,000
D. $150,000
World Economy MCQs
With the tariff the government collects?
A. $125,000
B. $100,000
C. $75,000
D. $150,000
Suppose there is no tariff on imported inputs and the ratio of the value of imported inputs the value of the final product is 0.5 If the nominal tariff rate on the final product is 10 percent, the effective tariff rate equals ?
A. 10 percent
B. 5 percent
C. 15 percent
D. 20 percent
A tariff can _______ raise a country’s welfare?
A. always
B. sometimes
C. never
D. None of these
If a nation fitting the criteria for the large nation model imposes an import tariff ?
A. The domestic price of the product will increase by the same amount as the tariff
B. the domestic price of the product will increase by more than the tariff itself
C. The domestic price of the product will increase by less than the tariff
D. None of the above
According to the _____ argument for protection, tariffs can shield new industries from import competition until they have grown strong and efficient enough to withstand the competition by foreign producers ?
A. beggar they neighbor argument
B. infant industry argument
C. scientific tariff argument
D. foreign dumping argument
A tariff that prohibits imports has only ?
A. revenue effect and protection effect
B. a revenue effect and redistribution effect
C. consumption effect and protection effect
D. redistribution effect and consumption effect
The effective rate of protection ?
A. is the minimum level at Which a tariff becomes effective in limiting imports
B. distinguishes between tariffs that are effective and those that are ineffective
C. shows how effective a tariff is in raising revenue for the government
D. shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms
Specific tariffs are collected as ?
A. fixed amount of money per unit traded
B. a percentage of the quantity of imports
C. a percentage of money per unit traded
D. All of the above
If I purchase a stereo from South Korea, I obtain the stereo and South Korea obtains the dollars But if I purchase a stereo produced in the Pakistan I obtain the stereo and the rupees remain in Pakistan, This line of reasoning is ?
A. valid for most products imported by Pakistan but not for stereos
B. valid for stereos, but nor for most products imported by Pakistan
C. deceiving since Koreans eventually spend the dollars on Pakistani goods
D. deceiving since the dollars spent on a stereo built in the Pakistan eventually wind up overseas
For advanced countries such as the United States, tariffs on imported raw materials tend to be ?
A. higher than tariffs on imported manufactured goods
B. lower than tariffs on imported manufactured goods
C. equals to tariffs on imported manufactured goods
D. The highest of all tariffs
A tax of 15 percent per imported item would be an example of a (an) ?
A. Ad valorem tariff
B. Effective tariff
C. Specific tariff
D. Compound tariff
The national security argument for protection is more likely to be valid when ?
A. The economy operates during a recession
B. The industry is characterized by increasing returns to scale
C. The purpose is to maintain protection for an indefinite time period
D. The protected industry provides invaluable goods during periods of war
If no imported inputs (hard-disk drive) go into the domestic production of a final product (desktop computer) then the ?
A. nominal tariff rate on the final product equals the effective tariff rate on the product
B. nominal tariff rate on the final product is less than the effective tariff rate on the final product
C. nominal tariff rate on the final product is greater than the effective rate on the product
D. None of the above
Budget Deficits And The Trade Balance MCQs
Suppose that the offshore assembly provisions (OAP) of the United States are granted to finished computers that are imported and produced domestically This policy will tend to ?
A. Increase the Production of computers in the United States
B. Increase the Price of computers to consumers in the United States
C. cause foreign assemblers of computers to use more computer components that are supplied by countries other than the United States
D. Increase the production of computer components in the United States
A tariff ______ increase a country overall welfare?
A. will never
B. will always
C. can sometimes
D. None of the above
If a country an imposes an import tariff, its welfare can improve if ?
A. The tariff enhances the welfare of its trading partners
B. its terms of trade improve enough
C. the country is a small country rather than a larger country
D. Its government’s tax revenue increases because of the tariff
If a small country imposes a tariff on an imported good, its terms of trade will ?
A. worsen
B. improve
C. not change
D. any of these
A tariff of ________ would be prohibitive causing imports to fall to zero?
A. $20
B. $15
C. $10
D. $25
The deadweight cost of the tariff equals ?
A. $25,000
B. $10,000
C. $50,000
D. $75,000
With the tariff, the quantity of imports falls to ?
A. 30,000 units
B. 20,000 units
C. 12,000 units
D. 42,000 units
With free trade the total quantity of imports would equal ?
A. 42,000 units
B. 40,000 units
C. 10,000 units
D. 50,000 units
In developed countries, tariffs on raw materials tend to be ?
A. higher than on manufactured goods
B. highest of all
C. equal to tariffs on manufactured goods
D. lower than on manufactured goods