FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 6: Trade Regulations and Industrial Policies

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 51

True/False

Review LaterAdd Note

Review Later

Under the provisions of the World Trade Organization, Canada would have the right to impose countervailing duties on imports of South Korean steel when the South Korean government provides export subsidies to its steelmakers.

A) True
B) False

Correct Answer

verified

Show Answer

Question 52

Multiple Choice

Review LaterAdd Note

Review Later

______________ attempt to produce a fair and free-trading environment in which there exists a level playing field.

A) Trade-remedy laws
B) Industrial policies
C) Strategic trade policies
D) Economic sanctions

E) B) and C)
F) A) and D)

Correct Answer

verified

Show Answer

Question 53

Multiple Choice

Review LaterAdd Note

During the 1780s-1790s, the largest source of revenue for the U.S.government came from

The ______________ provides a forum for multinational trade negotiations, intended on reducing barriers to trade.

Delta Airlines and Southwest Airlines have been critics of the U.S.Export-Import Bank.They maintain that, because they are American companies, they cannot benefit from the Bank's export subsidies.However, their foreign rivals do benefit from the Bank's export subsidies.

Unlike the Tokyo Round of multilateral trade negotiations, the Uruguay Round addressed the issues of intellectual property protection, trade barriers in services, and agricultural subsidies.

In 1990, the United States and its allies imposed trade embargoes on exports/imports to/from Iraq in response to its invasion of Kuwait.The embargoes would induce smaller losses in Iraq's consumer surplus the

______________ generally result(s) in greater economic pressure on the target nation.

According to the fast-track provision of U.S.trade law, once the president has completed trade negotiations, their outcome is subject to a vote (without amendment) in Congress within 90 legislative days of submission.

In 1980, the United States announced an embargo on grain exports to the Soviet Union in response to the Soviet armed invasion of Afghanistan.The embargo was mainly resisted by

For the United States in the early 1800s

The World Trade Organization primarily involves bilateral trade negotiations between two countries, say, the United States and China.

The primary objective of the World Trade Organization is to

The main focus of the Uruguay Round of multilateral trade negotiations was on tariff barriers rather than nontariff trade barriers.

What is the basis for trade adjustment assistance?

Which major economy spends the most in helping retrain workers and getting them reemployed?

Which is one type of trade liberalization favored by the World Trade Organization?

Assume Boeing Inc. (of the United States) and Airbus Industries (of Europe) rival for monopoly profits in the Canadian aircraft market. Suppose the two firms face identical cost and demand conditions, as seen in Figure 6.1. Figure 6.1. Strategic Trade Policy: Boeing versus Airbus -Referring to Figure 6.1, the Airbus subsidy leads to a (an) increase/decrease in Canadian consumer surplus of $______________, as compared to the consumer surplus that existed in the absence of a subsidy.

An antidumping duty levied on imports of foreign-produced steel leads to an increase in consumer surplus in the home country.

Compared with other displaced workers, ______________ workers tend to face ______________ adjustment costs as they must endure longer ______________ spells and larger wage losses once reemployed.