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Arizona State University ECN 306 QUIZ 6
Arizona State University
ECN 306
QUIZ 6.2
1)If Japan and Australia enter into a voluntary export restraint (VER) agreement and Australia agrees to limit its exports to Japan, then we would expect that the VER's import price markup effect would accrue to:
2. A nontariff barrier that requires an importer or import distributor to buy a certain percentage of products domestically is a:
3. When an import quota is imposed and import licenses are auctioned off, the import price markup effect of the quota goes primarily to:
4. According to a study by Kee et al. in 2009, nontariff barriers are:
5. When a government's purchasing procedures are biased in favor of domestic products and against foreign products, the nontariff barrier being employed is a(n):
6. The World Trade Organization was created in 1995 to:
7. If a government allocates import licenses for free to firms or individuals without competition, application, or negotiation, the licenses are allocated on the basis of:
8. If an unfair trade complaint is filed with the WTO and a panel appointed by the WTO determines that the complaint is valid, the WTO will instruct the offending country to alter its trade policy to avoid the unfair effects that were found to exist. If the offending country fails to correct its trade policy as directed by the WTO, what can the WTO do?
9. When a country allows imports into the country at a low or zero tariff up to a specified quantity of goods and then imposes a higher tariff on imports above that specified quantity, that country is employing:
10. A(n) is a government policy of an importing country that requires importers to place some part of the value of intended imports with the government before the imports are allowed in the country.
11. The current WTO multilateral negotiations about international trade and the reduction of trade barriers is called the:
12. If a country mandates that imports meet certain requirements that necessitate unnecessarily expensive modifications be made to the imports, the country is employing:
13. Which would a domestic monopoly prefer: an import quota or an import tariff?
14. When a country imposes high import barriers to protect domestic industries from competition from imports, the protected industries:
15. A(n) is a limit on the total quantity of imports allowed into a country each year.
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