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Non-Tariff Trade Barriers

Practice MCQs under Non-Tariff Trade Barriers. 46 available Open paginated MCQ list →

Questions

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1.How does an import quota compare to a tariff in terms of restricting imports when domestic demand is rising?

It imposes fewer limitations on imports than a tariff does.It restricts imports more severely than a tariff.It restricts imports to the same extent as a tariff.It consistently leads to higher government tax income.

2.If Norway's government enforces an import quota of 800 computers to limit imports, how will the consumer surplus and producer surplus change compared to a free trade scenario? Can you determine these changes by graphing the data provided?

both consumer and producer surplus will riseconsumer surplus will rise, producer surplus will fallconsumer surplus will fall, producer surplus will riseboth consumer and producer surplus will declinenone of the above

3.What are Norway's equilibrium price and quantity when there is no trade?

$1,500 for 2,800 computers$2,000 for 1,600 computers$2,500 for 2,000 computers$3,500 for 2,000 computers

4.What is the primary purpose of imposing antidumping duties?

To compensate for the difference caused by dumpingTo penalize local buyers for purchasing costly imported productsTo deter foreign governments from providing export subsidiesTo lower the domestic government's income from tariffs

5.If both a tariff and an import quota cause the same rise in the domestic price of steel, what is the effect on production and consumption?

Only the quota causes a loss in efficiency, whereas the tariff does not.Only the tariff leads to efficiency losses, while the quota does not.Both measures produce the same effect on the quantities produced and consumed.Both policies have the same effect on the distribution of income.Neither affects production or consumption levels.

6.When a tariff and an import quota cause the same increase in the domestic steel price, what differs between the two policies?

Only the quota causes a loss in economic efficiency, while the tariff does not.Only the tariff causes a loss in economic efficiency, while the quota does not.They affect the quantities produced and consumed in distinct ways.They influence the distribution of income differently.They have identical effects on all economic outcomes.

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