1. If the United States begins importing motorcycles from Tanzania, where worker
ID: 1100967 • Letter: 1
Question
1. If the United States begins importing motorcycles from Tanzania, where workers are paid 50 cents per day, which group is likely to be hurt the most?
A.Tanzanian motorcycle workers.
B.American motorcycle consumers.
C.American motorcycle producers.
D.No one is hurt; that is, everyone benefits.
Would it be C as they are not producing motorcycles anymore, hence no more jobs?
2. Which of the following results is NOT an effect of a tariff?
A.The quantity imported falls.
B.The quantity produced by domestic producers rises.
C.The price of the good paid by consumers in the importing country will fall.
D.The government collects revenue from the tariff.
Would it be A? Since there will be a tax on imported goods, they will reduce the quantity to reduce the tariff price?
3.Which of the following is an example of a quota?
A.A tax of $2 is placed on every jar of jam that is imported.
B.European manufacturers of electrical equipment must convert their production processes to meet U.S. standards.
C.A maximum of 1.5 million pairs of jeans can be imported.
D.The U.S. government pays a $1 million subsidy to an American manufacturer to allow it to compete with a foreign producer.
Is it C?
4.Which of the following is NOT a tool for restricting trade?
A.Quota.
B.Nontariff barriers.
C.International trade show.
D.Tariffs.
Is it C?
5.Which of the following statements is correct?
A.International trade will tend to lower global output of goods/services produced in the world.
B.Tariffs encourage international trade.
C.It is ALWAYS in the producers' interest to open borders to trade.
D.There are both winners and losers from international trade.
No idea.. haha
Explanation / Answer
1.C.American motorcycle producers.
2.A.The quantity imported fall
3.C.A maximum of 1.5 million pairs of jeans can be imported.
4B.Nontariff barriers.
5,C.It is ALWAYS in the producers' interest to open borders to trade.
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