31. A nation\'s impoet import demand curve for a specific product is upsloping t

Question

31. A nation's impoet import demand curve for a specific product is upsloping the amount of the peodact it will import at prices below itu above its export supply curve for the peoduct C. lies de pends on domestic demand for the product, but not on 32. The organization cecated to oversce the peovisions of mlatorait oside putes under the intermational trade liberalization is called the ules and meet periodically to consider forther trade meet A. Intcrnational Monetary Fund (IMF) B. World Trade Organization (WTO). C. Common Market Organization (CMO) D, International Trade Commission (ITC) In a two-nation model, the equilibeium world price will cccur where. A. one nation's export supply curve intersects the other nation's import B. exports are exactly twice the level of imports. C. both nations export supply curves are horizontal D, both nations' import demand curves are vertical. demand curve. Dumping of goods abroad: A. constitutos a general case for permanent tariffs. 34. B, may be part of a firm's price discriminaticn strategy C. may be part of a nation's strategy to rectify its trade deficit D. drives up prices of the dumped goods 35. A basic assumption of the two-nation production possibilities curves that are strnight lines is that: A. opportunity costs are constant B. opportunity costs are increasing. C. each nation is operating at a point inside its production possibilities curve. D. each nation is operating at a point cutside its production possibilities curve. n excise tax that is applied to imported products which are not produccd domestically is a(n) .protective tariff B. revenhe tariff. C. import quota D, nontariff barrier

Explanation / Answer

31. b) because import demand curve tells us about the quantity imported at world prices.

32. b) World Trade organisation has a mandate as well as dispute settlement body which resolved the problems of trading parties ambically.

33.a) equilibrium occurs where demand is equals to supply.

34.b) dumping is an price discrimination policy in international trade where countries dump their cheap products into other countries .

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