DIRECTIONS: As in the popular TV game show, you are given an answer to a question and you must respond with the question. For example, if the answer is, "a tax on imports", then the correct question is, "What is a tariff?"
- term used to describe a tariff that will raise national welfare to the greatest extent for a large importing country.
- term used to describe a country's counter trade actions in response to it's trading partner's increase in tariffs.
- term used to decribe the choices economic game players are able to make.
- name given to a non-cooperative solution to an economic game.
- term used to describe an economic game equilibium which maximizes the sum of the payoffs to all players.
- an arrangement in which a group of countries agree to eliminate tariffs between themselves, but maintain their own external tariff on imports from the rest of the world.
- term used to describe a change in the pattern of trade, in response to trade liberalization, in which a country begins to import from a less efficient supplier.
- term used to describe a change in the pattern of trade, in response to trade liberalization, in which a country begins to import from a more efficient supplier.
- a tariff used to offset the injurious effects of a foreign government export subsidy.
- name of the US government agency that determines the size of a foreign government export subsidy.