Chap07 Quiz

The US restricting the export of semiconductor chips to Chinese organizations is an example of:

• Export ban

• Export tariff

• Import quotas

• Subsidedies

When tariffs are levied as a fixed charge for each unit of a good imported, they are called

• Specific tariffs

• Ad valorem tariffs

• Tariff rate quotas

• Transit tariffs

A ________ demands that some specific fraction of a good be produced domestically

• subsidy

• quota rent

• voluntary export requirement

• local content requirement

Which of the following is not a political argument for

government intervention?

• protecting jobs

• protecting infant industries

• protecting industries deemed important for national security

• protecting consumers from “dangerous” products

What is the most common political reason for trade

barriers?

• To protect infant industries

• Strategic trade policy

• To protect jobs

• To protect industries that are important for national security

Which theory suggests that in cases where there may

be important first mover advantages, governments

can help firms from their countries attain these

advantages?

• The infant industry argument

• Strategic trade theory

• Comparative advantage theory

• The Leontief paradox

All of the following except _____ are key issues

on the table at the Doha Round.

• Anti-dumping policies

• Protectionism in agriculture

• Intellectual property rights

• Infant industry protection

Governments do NOT attempt to restrict what citizens can buy from another country or what they can sell to another country

is called:

• Export ban

• Import tariff

• Import quotas

• Free trade

President Trump has enacted tariffs against China and a lot of people worried that China might retaliate and enact tariffs against the U.S. What is this event called?

• A trade war

• A misallocation of recources

• A national security issue

• A loss of domestic jobs

What is NOT the reason for the government to pursue the infant industry argument

• Protect domestic industry

• Economic Development

• Balance trade

• Generate steady profits