International Trade Theory and Policy
by Steven M. Suranovic

Trade 90

Trade 90

Trade Problem Set 90 J-1

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?"

  1. the price that equalizes domestic supply with domestic demand.
  2. a quota set higher than the free trade level of imports.
  3. used to measure welfare of consumers in a partial equilibrium analysis.
  4. the product of the specific tariff rate and the quantity of imports.
  5. term used to describe a country in which domestic policy changes can influence prices in international markets.
  6. the kind of power a country is said to have when its exports are a significant share of the world market.
  7. the direction of change of the domestic price after an import tariff is implemented by a domestic country.
  8. the direction of change of the foreign price after an import tariff is implemented by a large domestic country.
  9. the direction of change of the foreign price when an export tax is implemented by a domestic country.
  10. the direction of change of domestic producer surplus when an import quota is implemented by a domestic country.

 

International Trade Theory and Policy - Chapter 90: Last Updated on 1/06/08