1.Define tariff.

2.Define import quota.

3.Explain who the winners and losers are when a tariff is imposed.

4.Explain who the winners and losers are a quota is introduced

5.Explain what happens to the domestic price of a good, the quantity consumed, domestic production, and imports when tariffs are imposed on imported automobiles?

6.Explain what happens to the price and quantity consumed of a good in a nation imposing an import quota.

7.List 5 arguments for restricting international trade.

8.Explain the concept of "dumping."