Micro Exam 2
using the internet portal of WTO provided in class, tell the applied tariff to cereals HD code 100620 in the country israel in 2021
0%
a wine exporter from california exports bottle of wine to thailand. the price of each bottles in origin is 10 USD, the transportation and insurance costs are 2.5 USD/bottle. the % tariff applied is 23%. how much is the applied ad valorem tariff per bottle?
3.53 USD
the paper "the defense of monopoly as a determinant of the process of transformation of state-owned infrastructure sectors in poland" states that
all are correct beside this answer "in short, it has not ben to the advantage of all three interest groups to secure the monopoly status for their enterprise"
how do we know what each country should produce and what goods should be traded
all of above (differences in tastes, economies of scale, differences in resource endowments)
solve according to nash equilibrium theory
company 1 IH & company 2 IH company 1 IM & company 2 NI
this chart relates to
economies of scale
law of comparative advantage says that each country should not specialize in producing the good with the lower opportunity cost
false
the term "terms of trade" is expressed by the ratio of exports and import prices. a devaluation of the local currency of an exporter will contribute to
increase exports
this chart refers to
production possibilities frontier
Isoquant shows all technologically efficient combinations of two resources, such as labor & capital, that produce a certain rate of output
true
a monopolist can sometimes increase economic profit by charging higher prices to customers who value the product more. the practice of charging difference prices to different customers when the price differences are not justified by differences in cost is called price discrimination
true
a most favored nation (MFN) clause requires a country providing a trade concession to one trade partner to extend the same treatment to all
true
ad valorem tariff is % of the price of imports at the point of entry
true
gilejko suggets that bureaucracy, acting in its own interest, strengthens the short-term benefits of the government
true
if firms are acting as price takers in factor markets, the isocost curve is a straight line
true
patents and license's are legal barriers
true
specific tariff is a fixed fee amount, for example a tariff of $5 per barrel of oil
true
using the example of the company de beers ... we can say that "the monopolist's price equals the average revenue per diamond"
true
using the research portal presented in class and hosted by michigan state university. answer the following question: the global aeorspace and defense industry is controlled by
us with 77.9% of market share