The U.S.-Canada Free Trade Agreement a. restricts investments between the two co

Question

The U.S.-Canada Free Trade Agreement
a. restricts investments between the two countries
b. is an example of a multinational trade agreement
c. seeks to phase out remaining tariffs
d. does not apply to the province of Quebec


If a country engaged in free trade has an unlimited quantity of imports of a good available at a fixed price, the supply curve for that good is
a. upward sloping
b. perfectly inelastic
c. downward sloping
d. perfectly elastic

Exports from China into the U.S. have most seriously impacted the
a. automobile industry
b. furniture industry
c. travel industry
d. cosmetics industry

If a tariff is increased to a level high enough to prevent any imports from entering the country, the tariff has the same effect as
a. an export subsidy
b. a voluntary export restraint
c. dumping
d. an embargo


Which of the following countries is not a member of the Economic Monetary Union?
a. England
b. Italy
c. Spain
d. Finland

Explanation / Answer

b. is an example of a multinational trade agreement d. perfectly elastic a. automobile industry a. an export subsidy a. England

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