Arizona State University

ECN 306

QUIZ 6.1

1)When an export duty or tariff is imposed on a domestically produced good by a large country:

2. The assumption that any feasible change in demand for an import in a country is so small that it has almost no effect on the world market for that product is called the:

3. When a tariff is imposed on an imported product, domestic consumers of that product:

4. The percentage by which the entire set of a nation's trade barriers raises the affected industry's value added per unit of output is identified as the industry's                                                                 .

5. A(n)                                                 is a money amount of tax per unit of an imported product.

6. When a tariff is imposed on an imported product:

7. If a country's share of the world market for an imported product is large enough that the country's buying can affect the world price of that product unilaterally, that country has:

8. The international organization that now oversees global rules that apply to international trade and that serves as a forum for discussing and resolving trade disputes is the:

9. What "mercantilistic logic" has been useful for countries that have tried to justify lowering import tariffs?

10. If a country's share of the world market for an imported product is large enough that the country's buying can affect the world price of that product unilaterally, that country has: