1. During the postwar period,

1. Nontariff trade barriers (NTBs) and tariffs have both increased in importance and use.
2. NTBs and tariffs have both decreased in importance and use.
3. NTBs have increased and tariffs have decreased in importance and use.
4. NTBs have decreased and tariffs have increased in importance and use.

Answer: Page: 226

2. When a small country experiences an upward shift in the demand curve, a given import quota would result in ___ and ___.

A) higher domestic price, more imports

B) higher domestic price, same imports

C) same domestic price, more imports

D) same domestic price, same imports

Answer: Page: 227-229

3. When a small country experiences an upward shift in the demand curve, a given import tariff would result in ___ and ___.

A) higher domestic price, more imports

B) higher domestic price, same imports

C) same domestic price, more imports

D) same domestic price, same imports

Answer: Page: 227-229

4. Which of the following statements is true about the voluntary export restraints (VERs)?

A) WTO members are not allowed to impose new VERs.

B) Government of the importing country captures the revenue effect of VERs.

C) VERs were mostly negotiated by developing countries to curb exports from industrial nations.

D) All of the above

Answer: Page: 229-230

5. According to Case Study 9-2, ______ got worse off as a result of the voluntary export restraints on the Japanese automobile exports to the US negotiated in 1981.

1. US automobile manufactures
2. US consumers
3. Japanese automobile manufactures
4. Labor in the US automobile industry

Answer: Page: 230

6. If Japan ____, then Japan is guilty of dumping cars into the US market.

1. sells cars in the US for a price above production costs
2. sells cars in the US for a price below production costs
3. produces cars at a lower cost than the US can produce them
4. produces cars at a higher cost than the US can produce them

Answer: Page: 232

7. With which type of dumping do domestic consumers get better off in the short run but worse off in the long run?

A) Persistent dumping

B) Predatory dumping

C) Sporadic dumping

D) All of above

Answer: Page: class discussion

8. The US government introduced the trigger-price mechanism in 1978 in response to dumping in what industry?

1. Steel
2. Cotton
3. Automobiles
4. Consumer Electronics

Answer: Page: 232

9. Which of the following countries was the #1 initiator of antidumping investigations in the period of 2011-2017?

A) China

B) US

C) EU

D) India

Answer: Page: lecture notes

10. Which of the following is a form of export subsidies?

1. Tax relief to (potential) exporters
2. Subsidized loans to (potential) exporters
3. Low-interest loans to foreign buyers of the nation's exports
4. All of the above

Answer: Page:234