1. International Trade is most likely to generate short-term unemployment in: a) Industries in which there...

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1. International Trade is most likely to generate short-term unemployment in: a) Industries in which there are neither imports nor exports b) Import-competing industries c) Industries that sell to domestic and foreign buyers. d) Industries that sell to only foreign buyers 2. Tax on imports can be treated as a. Non-tariff Barriers b. Trade Barriers 3. Which of the following is a valid argument for protectionism? a. national security c. domestic employment d. a and b b. unfair competition c. Foreign Trade d. Terms of Trade 4. The gains from trade are due primarily to the fact that a. the wealth of large, industrialized nations can be spread throughout the world b. total world output increases when each country specializes c. countries can boost their economies by increasing exports d. total world output increases when each country increases imports. 5. Which of the following is not one of benefits of open trade? a. increased government spending b. comparative advantage 6. Import quotas specify the a. minimum b. maximum a. advalorem, 5 percent b. advalorem, 10 percent c. unlimited d. small e. a, b, and c f. none of the above c. increased productivity d. increased varities of goods amounts of certain products to be imported during a given period of time. e. given 7. If the world price of steel is $500 a ton, $50 is paid when the government implements.............. tariff of......... c. specific, 5 percent d. specific, 10 percent Page 2 of 1. International Trade is most likely to generate short-term unemployment in: a) Industries in which there are neither imports nor exports b) Import-competing industries c) Industries that sell to domestic and foreign buyers. d) Industries that sell to only foreign buyers 2. Tax on imports can be treated as a. Non-tariff Barriers b. Trade Barriers 3. Which of the following is a valid argument for protectionism? a. national security c. domestic employment d. a and b b. unfair competition c. Foreign Trade d. Terms of Trade 4. The gains from trade are due primarily to the fact that a. the wealth of large, industrialized nations can be spread throughout the world b. total world output increases when each country specializes c. countries can boost their economies by increasing exports d. total world output increases when each country increases imports. 5. Which of the following is not one of benefits of open trade? a. increased government spending b. comparative advantage 6. Import quotas specify the a. minimum b. maximum a. advalorem, 5 percent b. advalorem, 10 percent c. unlimited d. small e. a, b, and c f. none of the above c. increased productivity d. increased varities of goods amounts of certain products to be imported during a given period of time. e. given 7. If the world price of steel is $500 a ton, $50 is paid when the government implements.............. tariff of......... c. specific, 5 percent d. specific, 10 percent Page 2 of

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The detailed answer for the above question is provided below 1 Option C Industries that sell to only ... View the full answer