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7. The difference between an import tariff imposed by a small country and a large country is that, for a large importing country, A. government
7. The difference between an import tariff imposed by a small country and a large country is that, for a large importing country, A. government revenue from the tariff is paid entirely by foreigners. B. nation welfare always increases because of the tariff. C. national welfare of the exporting country is reduced. D. there is no loss in consumer surplus as a result of the tariff. 8. The argument that protection increases total employment A. is true because protection would be the best way to promote domestic production. B. is true because foreign producers hire workers at lower wages. C. is true because we then keep the products and the payments for the products in the domestic market. D. is false because a rise in employment and output in protected industries can only come at the cost of efficient production in other industries. 9. Dumping occurs when a firm A. sells too much of a good in a foreign country. B. sells in a foreign country at prices that are below normal value. C. sells in its home market at prices that are below the average price charged by its competitors. D. sells in a foreign market at prices that are below the prices charged by firms based in the foreign market
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