Standards and technical regulations are an examples of:

a. Sanctions against a government.

b. Tax-like measures.

c. Government procurement policies.

d. Cost-increasing measures.

When a country imposes a tariff on imports,

a. there is a net loss for the economy.

b. there is a net gain for the economy.

c. it has no measureable impact on the economy.

d. only the government gains from it.

Which of the following is not an example of Quantitative measures:

a. Local or domestic content requirements.

b. Anti-dumping duties.

c. Import or export balancing requirements.

d. Sanctions and embargoes.

An implication of the Heckscher-Ohlin theorem is that:

a. Income distribution in a country does not change when a country is opened to trade.

b. Two countries with identical tastes can still have a basis for trade if factor endowments of the countries differ and if factor intensities of the commodities differ.

c. The relative price of a country's scarce factor of production will rise when the country is opened to trade.

d. If two countries have identical tastes, then no trade will occur between them