Predatory dumping Refers to temporarily reducing the price of a good in a foreig

Question

Predatory dumping Refers to temporarily reducing the price of a good in a foreign market in order to drive out foreign competition is illegal under the WTO is empirically impossible in the long-run all of the above Tariffs are applied at a greater rate (level) on luxury items than on basic items. Tariffs are regressive. True false Tariffs create overall gains for a nation true false Tariffs harm exports true false Tariffs have a much stronger impact on trade than quotas do true false Tariffs in large nations can impact global prices true false Tariffs only transfer surplus and create no deadweight losses for an economy true false

Explanation / Answer

Answer: is empirically impossible in long run

It is not illegal under WTO although indiviual countries have different laws about dumping.

Market price is lowered by foreign companies to take out domestic competition not foreign competition.

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