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A. increase imports and raise prices for consumers<br />
B. reduce imports and prices for consumers<br />
C. reduce imports and raise prices for consumers<br />
D. increase imports and reduce prices for<br />
consumers<br />
Question 10 of<br />
20<br />
0.0/ 5.0 Points<br />
Suppose Belgium produces only two goods, chocolate and lace. If Belgium has a comparative advantage in<br />
lace, a move toward free trade will __________ .<br />
A. benefit chocolate workers, harm lace workers in the short run, but benefit the nation as a<br />
whole<br />
B. harm chocolate workers in the short run, benefit lace workers, but benefit the nation as a<br />
whole<br />
C. harm chocolate workers in the short run, harm lace workers, but benefit the nation as a whole<br />
D. benefit chocolate workers, harm lace workers in the short run, but harm the nation as a whole<br />
Question 11 of<br />
20<br />
5.0/ 5.0 Points<br />
A(n. __________ is a trade policy by which a nation agrees to limit its exports of a good in order to avoid more<br />
restrictive trade policies.<br />
A. tariff<br />
B. voluntary export<br />
restraint<br />
C. import quota<br />
D. import ban<br />
Question 12 of<br />
20<br />
5.0/ 5.0 Points<br />
A(n. __________ is a tax on an imported good.
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