
Global Economy Midterm Multiple Choice Final version
Authored by Bakhtiiar Igamberdiev
Geography
University
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50 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a specific tariff?
A tax based on the value of an imported good.
A tax based on the quantity of an imported good.
A subsidy given to domestic producers.
A tax levied on exports.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an ad valorem tariff?
A fixed charge per unit of imported goods.
A tax based on the value of imported goods.
A price ceiling imposed by governments.
A quota on the number of imports.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of a tariff historically?
To generate government revenue.
To encourage imports.
To increase the price of domestic goods.
To promote competition among domestic industries.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does a tariff typically affect domestic prices?
Domestic prices rise by the full amount of the tariff.
Domestic prices fall due to decreased competition.
Domestic prices remain unaffected.
Domestic prices rise, but by less than the tariff amount.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the effect of a tariff on consumer surplus?
It increases consumer surplus.
It has no effect on consumer surplus.
It decreases consumer surplus.
It only affects producer surplus.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Voluntary Export Restraints (VERs) are:
Limits imposed by the importing country on the quantity of imports.
Agreements where the exporting country limits the quantity of exports.
Taxes on exports to foreign markets.
Subsidies provided to exporters.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Import quotas:
Increase government revenue.
Limit the number of imports but do not generate government revenue.
Lower prices for domestic consumers.
Have no effect on domestic market prices.
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