Economics MCQs

A. Koreans are selling dvds in the u.s below their production cost
B. Koreans are selling dvds is the u.s above their productions cost
C. The cost of manufacturing dvds in korea is lower in korea than in the u.s since wages are lower in korea
D. The cost of manufacturing dvds in korea is higher in korea than in the u.s since wages are higher in korea

A. Always
B. Often
C. Seldom
D. Never

A. Offset the margin of dumping
B. Punish domestic consumers for buying high-priced imported goods
C. Discourage foreign governments from subsidizing their exporters
D. Reduce the tariff revenue of the domestic government

A. $1,500 and 2,800 computers
B. $2,000 and 1,600 computers
C. $2,500 and 2,000 computers
D. $3,500 and 2,000 computers

A. Increase, increase
B. Increase, decrease
C. Decrease, increase
D. Decrease, decrease

A. Is less restrictive on a country’s imports than a tariff
B. Is more restrictive on a country’s imports than a tariff
C. Has the same restrictive effect on a country’s imports as a tariff
D. Will always generate increased tax revenue for the government

A. $65 and 40 calculators
B. $55 and 20 calculators
C. $45 and 25 calculators
D. $30 and 40 calculators

A. 20 calculator, $50
B. 20 calculator, $100
C. 25 calculator, $50
D. 25 calculator, $100

A. The quota results in efficiency reductions but the tariff does not
B. The tariff results in efficiency reductions but the quota does not
C. They have different impacts on how much is produced and consumed
D. They have different impacts on how income is distributed

A. The quota results in efficiency reductions but the tariff does not
B. The tariff results in efficiency reductions but the quota does not
C. They have identical impact on how much is produced and consumed
D. They have identical impact on how income is distributed