Economics MCQs

A. Distinguishes between tariffs that are effective and those that are ineffective
B. Is the minimum level at which a tariff becomes effective in limiting imports?
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

A. A revenue effect and redistribution effect
B. Revenue effect and protection effect
C. Consumption effect and protection effect
D. Redistribution effect and consumption effect

A. Ad valorem tariff
B. Specific tariff
C. Effective tariff
D. Compound tariff

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 greater than the effective rate on the product
C. Nominal tariff rate on the final product is less than the effective tariff rate on the final product
D. None of the above

A. The purpose is to maintain protection for an indefinite time period
B. The industry is characterized by increasing returns to scale
C. The economy operates during a recession
D. The protected industry provides invaluable goods during periods of war

A. Will always
B. Will never
C. Can sometimes
D. None of the above

A. Cause foreign assemblers of computers to use more computer components that are supplied by countries other than the united states
B. Increase the price of computers to consumers in the united states
C. Increase the production of computers in the united states
D. Increase the production of computer components in the united states

A. 12,000 units
B. 20,000 units
C. 30,000 units
D. 42,000 units

A. $10,000
B. $25,000
C. $50,000
D. $75,000

A. $10
B. $15
C. $20
D. $25