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International Trade Policy

18. International Trade Policy. CLICKER QUESTIONS. Checkpoint 18.2. Checkpoint 18.3. Checkpoint 18.1. Question 5. Question 8. Question 1. Question 9. Question 6. Question 2. Question 10. Question 7. Question 3. Question 4. CHECKPOINT 18.1. Question 1

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International Trade Policy

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  1. 18 International Trade Policy CLICKER QUESTIONS

  2. Checkpoint 18.2 Checkpoint 18.3 Checkpoint 18.1 Question 5 Question 8 Question 1 Question 9 Question 6 Question 2 Question 10 Question 7 Question 3 Question 4

  3. CHECKPOINT 18.1 Question 1 When Italy buys a Boeing jet, it pays ____ if it produced the jet itself and the price Boeing receives is ____ than what an additional U.S. buyer is willing to pay. • a lower price than; lower • a higher price than; higher • a lower price than; higher • a higher price than; lower • the same price as; higher

  4. CHECKPOINT 18.1 Question 2 Suppose that the price of a good in a country that does not trade internationally is _____ the world price. If this country starts to trade internationally, it will _____ the good and _____ less of the good. • equal to; produce more of; import • less than; export; produce • greater than; import; consume • less than; increase production of the good; import • greater than; import; produce

  5. CHECKPOINT 18.1 Question 3 When a country exports a good, the country’s producers of the good ____, consumers of the good ____, and the country ____ from the trade. • gain; gain; gains • lose; gain; gains • gain; lose; gains • lose; lose; loses • gain; lose; loses

  6. CHECKPOINT 18.1 Question 4 When a country imports a good, the domestic ______ of the good gain, domestic ________ of the good lose, and the gains from importing the good _______ the losses. • producers; consumers; equal • producers; consumers; are less than • consumers; producers; exceed • consumers; producers; exceed • producers; consumers; exceed

  7. CHECKPOINT 18.2 Question 5 When a tariff is imposed on an imported good, the ____ of that good increases. • domestic quantity purchased • domestic quantity produced • quantity imported • quantity exported • world price

  8. CHECKPOINT 18.2 Question 6 When a tariff is imposed on a good, domestic consumers of the good ____ and domestic producers of the good ____. • win; lose • lose; lose • win; win • lose; win • lose; neither win nor lose

  9. CHECKPOINT 18.2 Question 7 Which of the following parties benefits from an import quota but not from a tariff? • the domestic government • domestic producers • domestic consumers • domestic importers of the good • the foreign government

  10. CHECKPOINT 18.3 Question 8 The United States _________ cheap labor. • needs tariffs so that it can compete with countries that have • should not trade with countries that have • will not gain from trade with countries with • does not need tariffs to be able to compete with • avoids trading with countries that have

  11. CHECKPOINT 18.3 Question 9 What is a major reason international trade is restricted in developed countries? • rent seeking • to allow competition with cheap foreign labor • to save jobs • to prevent dumping • for national security

  12. CHECKPOINT 18.3 Question 10 The major reason most less-developed nations impose tariffs is because _______. • the government gains revenue from the tariff • low-paid domestic workers are protected from high- paid foreign workers. • the tariff increases the nation’s total income • the tariff improves its national security • the tariff helps to diversify the domestic economy

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