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Economics Mcqs 4423 MCQs [All-Courses]

Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

The strongest political pressure for a trade policy that results in higher protectionism comes from?

A domestic workers lobbying for import restriction

B domestic workers lobbying for export restrictions

C domestic consumers lobbying for export restrictions

D domestic consumers lobbying for import restrictions

Review Detailed Answer

Correct Answer: domestic consumers lobbying for import restrictions

In 1980 the U.S imposed export quotas on grain sold to the Soviet Union in response to its armed invasion of Afghanistan if other nations do not increase grain exports to the soviets all the following would likely occur except?

A Grain prices would rise in the Soviet union

B Consumer surplus would decrease for the soviets

C Grains prices would rise in the united States

D Export revenues would decrease for U.S producers

Review Detailed Answer

Correct Answer: Grains prices would rise in the united States

The theory of suggests that government can assist domestic companies in capturing economic profits from foreign competitors ?

A international dumping

B countervailing duties

C Strategic trade policy

D export promotion policy

Review Detailed Answer

Correct Answer: Strategic trade policy

The effect of the most favored nation (normal trade relations) clause is to ?

A eliminate all tariffs between countries

B increase all tariffs between countries

C maintain a nondiscriminatory structure of tariffs

D maintain a discriminatory structure of tariffs

Review Detailed Answer

Correct Answer: maintain a nondiscriminatory structure of tariffs

The result of antidumping tariffs is to ?

A increase consumer surplus in the importing country

B decrease producer surplus in the importing country

C impose a price floor on foreign prices in the importing country

D impose a price ceiling on foreign price in the importing country

Review Detailed Answer

Correct Answer: impose a price floor on foreign prices in the importing country

Concerning dumping, which of the following is true ?

A predatory dumping represents the most common form of dumping by U.S firms

B U.S firms can obtain protection from foreign dumping, even though this protection tends to harm overall U.S welfare

C dumping can never be a profit-maximizing strategy for U.S firms to pursue

D U.S firms rarely if ever, engage in distress dumping or persistent dumping

Review Detailed Answer

Correct Answer: U.S firms can obtain protection from foreign dumping, even though this protection tends to harm overall U.S welfare

________ protection such as the escape clause, provide temporary protection to domestic industries facing competition from fairly traded foreign goods?

A generalized system of preference

B countervailing duty

C domestic content

D safeguards

Review Detailed Answer

Correct Answer: safeguards

Antidumping duties applied to imported goods ?

A are abolished by the World Trade Organization

B result in decreases in consumer surplus for domestic households

C are imposed by industrial countries but not developing countries

D result in lower-priced goods for domestic consumers

Review Detailed Answer

Correct Answer: result in decreases in consumer surplus for domestic households

The World Trade Organization is sometimes criticized for all of the following reasons except?

A it reduces the sovereignty of member countries

B favors free trade over the quality of the environment

C it has no way to solve trade disputes among member countries

D it is a puppet of multinational corporations

Review Detailed Answer

Correct Answer: it has no way to solve trade disputes among member countries

Compared to what occurred under free trade, Mexico’s producer surplus and consumer surplus as a result of the subsidy Use the figure that you have plotted to calculate the amounts ?

A decreases, decreases

B decreases, increases

C increases, decreases

D increases, increases

Review Detailed Answer

Correct Answer: decreases, increases

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

The strongest political pressure for a trade policy that results in higher protectionism comes from?

In 1980 the U.S imposed export quotas on grain sold to the Soviet Union in response to its armed invasion of Afghanistan if other nations do not increase grain exports to the soviets all the following would likely occur except?

The theory of suggests that government can assist domestic companies in capturing economic profits from foreign competitors ?

The effect of the most favored nation (normal trade relations) clause is to ?

The result of antidumping tariffs is to ?

Concerning dumping, which of the following is true ?

________ protection such as the escape clause, provide temporary protection to domestic industries facing competition from fairly traded foreign goods?

Antidumping duties applied to imported goods ?

The World Trade Organization is sometimes criticized for all of the following reasons except?

Compared to what occurred under free trade, Mexico’s producer surplus and consumer surplus as a result of the subsidy Use the figure that you have plotted to calculate the amounts ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

The strongest political pressure for a trade policy that results in higher protectionism comes from?

In 1980 the U.S imposed export quotas on grain sold to the Soviet Union in response to its armed invasion of Afghanistan if other nations do not increase grain exports to the soviets all the following would likely occur except?

The theory of suggests that government can assist domestic companies in capturing economic profits from foreign competitors ?

The effect of the most favored nation (normal trade relations) clause is to ?

The result of antidumping tariffs is to ?

Concerning dumping, which of the following is true ?

________ protection such as the escape clause, provide temporary protection to domestic industries facing competition from fairly traded foreign goods?

Antidumping duties applied to imported goods ?

The World Trade Organization is sometimes criticized for all of the following reasons except?

Compared to what occurred under free trade, Mexico’s producer surplus ____ and consumer surplus ____ as a result of the subsidy Use the figure that you have plotted to calculate the amounts ?

Compared to what occurred under free trade, Mexico’s producer surplus and consumer surplus as a result of the subsidy Use the figure that you have plotted to calculate the amounts ?