Economics MCQs

A. Selling goods to foreigners at a price below that charged domestic consumers
B. Selling goods to foreigners at a price below the cost of production
C. Antidumping duties being levied on the imported, dumped goods
D. All of the above

A. U.s oil companies and workers deserved higher incomes
B. U.s oil was of superior quality and merited higher prices
C. One should not be too dependent on foreign suppliers of crucial resources
D. The u.s government needed the quota revenue to balance its budget

A. Prices
B. Quantity
C. Revenue
D. Costs

A. Higher prices and reduced imports
B. Increased government revenue
C. Increased consumer surplus
D. Decrease producer surplus

A. Quota license
B. Quota rents
C. Quota prices
D. None of the above

A. Lower the welfare of all pakistanis
B. Lead to increases in pakistani consumer surplus
C. Encourage pakistan’s production of competing goods
D. Encourage pakistani workers to demand higher wages

A. Domestic subsidy
B. Export subsidy
C. Import quota
D. Export quota

A. Is a limit on the number of tariffs that a country can place on imports?
B. Uses a single tariff along with import quotas to restrict import
C. Is designed to avoid the the price increases caused by simple tariffs
D. Is a two-tier tariff system intended to restrict imports?

A. Capture the entire subsidy in the form of higher profits
B. Increase their level of production
C. Reduce wages paid to domestic workers
D. Consider the subsidy as a increase in production cost

A. An import tariffs
B. A tariff rate quota
C. A selective quota
D. A global quota