[{"id":214177,"question":"Specific tariffs are collected as","choices":[{"text":"Fixed amount of money per unit traded","value":"A"},{"text":"a percentage of the price of the product","value":"B"},{"text":"A percentage of the quantity of imports","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214176,"question":"Ad valorem tariffs are collected as.","choices":[{"text":"Fixed amounts of money per unit traded","value":"A"},{"text":"A percentage of the price of the product","value":"B"},{"text":"A percentage of the quantity of imports","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214175,"question":"Which trade policy results in the government levying both a specific tariff and an advalorem tariff on imported goods.","choices":[{"text":"Compound tariff","value":"A"},{"text":"Nominals tariff","value":"B"},{"text":"Effective tariff","value":"C"},{"text":"Revenue tariff","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214174,"question":"A tax of 17 percent per imported item would be an example of a","choices":[{"text":"Ad valorem tariff","value":"A"},{"text":"Specific tariff","value":"B"},{"text":"effective tariff","value":"C"},{"text":"Compound tariff","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214173,"question":"A tax of 18 cents per unit of imported cheese would be an example of a.","choices":[{"text":"Compound tariff","value":"A"},{"text":"Effective tariff","value":"B"},{"text":"Ad valorem tariff","value":"C"},{"text":"Specific tariff","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214172,"question":"A product will be traded only if the pre trade price difference between the two countries","choices":[{"text":"Is less than the cost of transporting it between them","value":"A"},{"text":"is greater than the cost of transporting it between them","value":"B"},{"text":"Equals the cost of transporting it between them","value":"C"},{"text":"More information is needed to answer this question","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214171,"question":"According to the factor price equalization theorem, the ______ factor should oppose free trade policies in any given country.","choices":[{"text":"Abundant","value":"A"},{"text":"scarce","value":"B"},{"text":"Neither","value":"C"},{"text":"Can't tell without more information","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214170,"question":"The factor endowment theory was pioneered by","choices":[{"text":"Adam Smith","value":"A"},{"text":"David Richardo","value":"B"},{"text":"Wassily Leontief","value":"C"},{"text":"Ell Heckscher and Bartill Ohlim","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214169,"question":"Advocates of industrial policy maintain that government should.","choices":[{"text":"Purse free trade as a policy that leads to maximum global efficiency","value":"A"},{"text":"Grant subsides to firms offering potential comparative advantage.","value":"B"},{"text":"Provide loans to domestic workers in exporting industries.","value":"C"},{"text":"Increase interest rates on loans made to firms in import competing industries.","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214168,"question":"According to the Heckscher - Ohlin model","choices":[{"text":"<sup>Every one automatically gains from trade</sup>","value":"A"},{"text":"The gainers from trade out number the losers from trade","value":"B"},{"text":"The scarce factor necessary gains from trade","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214167,"question":"Wassily Leontief used an input output table in order to test the.","choices":[{"text":"Richardian theory of comparative advantage","value":"A"},{"text":"Heckscher Ohlin theory of comparative advantage.","value":"B"},{"text":"Linder theory of overlapping demand","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214166,"question":"If tastes are identical between countries then comparative advantage is determined by","choices":[{"text":"Supply conditions only","value":"A"},{"text":"Demand conditions only","value":"B"},{"text":"Supply and demand conditions","value":"C"},{"text":"Can't tell without more information.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214165,"question":"Industrial policies intended to foster comparative advantage for domestic industries could result in the implementation of.","choices":[{"text":"Research and development subsides.","value":"A"},{"text":"Loan guarantees","value":"B"},{"text":"Low interest rate loans","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214164,"question":"The _____ analyzes the income distribution effects of trade in the short run when resources are immobile among industries.","choices":[{"text":"Stolpher Samuelson theory","value":"A"},{"text":"Factor endowment theory.","value":"B"},{"text":"Specific factor theory","value":"C"},{"text":"Over lapping demand theory","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214163,"question":"According the Hacksher-Ohlin model the source of comparative advantage is a country's","choices":[{"text":"Technology","value":"A"},{"text":"Advertising","value":"B"},{"text":"Factor endowments","value":"C"},{"text":"both a and c","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214162,"question":"That the division of labor is limited by the size of th market best applies to which explanation of trade.","choices":[{"text":"Factor endowment theory","value":"A"},{"text":"Product like cycle theory","value":"B"},{"text":"Economics of scale theory","value":"C"},{"text":"Over lapping demand theory","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214161,"question":"Should international transpiration costs decrease the effect on international trade would include a.","choices":[{"text":"Increases in the volume of trade","value":"A"},{"text":"Smaller gain from trade","value":"B"},{"text":"Decline in the income of home producers","value":"C"},{"text":"Decrease in the level of specialization in production.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214160,"question":"The product cycle theory of trade is essentially a","choices":[{"text":"Static short run trade theory","value":"A"},{"text":"Dynamic, long run trade theory","value":"B"},{"text":"Zero sum theory of trade","value":"C"},{"text":"Negative sum theory of trade","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214159,"question":"The comparative advantage model of Ricardo was based on.","choices":[{"text":"Interindustry specialization and trade","value":"A"},{"text":"Interindustry specialization and trade","value":"B"},{"text":"Demand conditions underlying specialization and trade","value":"C"},{"text":"Income conditions underlying specialization and trade","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214158,"question":"According to the Hackscher - Ohlin model the source of comparative advantage is a country's","choices":[{"text":"Technology","value":"A"},{"text":"Advertising","value":"B"},{"text":"Factor endowments","value":"C"},{"text":"both a and c","value":"D"},{"value":"E"}],"correctAnswer":3}]