Can you please help me with these questions?
Imports are goods produced abroad and sold domestically. True False QUESTION 5 Tariffs are different from quotas because they a. place all the burden on foreigners. b. increase government revenue. c. increase the quantity traded. d. increase profits. QUESTION 6 If nations begin to specialize in production for the purpose of trade, a. total world output will increase, but well-being from consumption will not. b. the utility from consumption will increase, but not the total output. c. total world output will increase, as well as well-being from consumption. d. neither total output nor well-being from consumption will change. e. the impact on total output and well-being cannot be predicted. QUESTION 7 The danger of using the national defense argument to protect domestic industries necessary to wage war is that a. it is unrelated to the United States' ability to wage war. b. other nations will retaliate with tariffs against U.S. producers of war material. c. industries with only the most peripheral relationship to defense are likely to invoke this argument on their behalf. d. it has no validity on noneconomic grounds. QUESTION 8 The effect of a tariff or a quota is to a. raise the price of a commodity in the exporting country above the price in an importing country. b. lower the price of the commodity in all countries. c. raise the price of a commodity in an importing country above the price in the exporting country. d. raise the price of the commodity in all countries. QUESTION 9 If one country has an absolute advantage in every commodity, there is no reason for it to trade. True False QUESTION 10 When can a country gain a price advantage on imports by imposing a tariff? a. When it can do so without other countries retaliating with tariffs b. When it is the largest country with absolute advantage in all goods c. When trade agreements prohibit quotas but permit tariff's d. When it has a comparative advantage in the production of all goods Click Save and Submit to save and submit. Click Save All Answers to save all answers