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Matching Post Quiz
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Match the correct answers below.
1


Will result in each country specializing in production of its comparative advantage good.

2


A tax levied on imports.

3


Will see their incomes fall in free trade.

4


A tariff that is so high that it forces imports to zero.

5


The recipients of the revenue from a quota.

6


Begins at the country's point of complete specialization and then runs outward at the slope that corresponds to the world price ratio.

7


A tariff that maximizes real domestic income.

8


Can lead economies to a point inside the production possibility frontier.

9


A limit on the quantity of imports.

10


The recipient of the revenue from a tariff.

11


States that each country will benefit if it specializes in the production and export of those goods that it can produce at relatively low cost.

12


The ratio of export prices to import prices.

13


Claims that startup industries need a tariff in order to give them a chance to get started without a lot of foreign competition.

14


A free trade agreement between the United States, Canada, and Mexico.

Answer choices for questions 1 through 14
A)Optimal tariff
B)Terms of trade
C)Free trade
D)Tariff
E)Comparative disadvantage industries
F)Comparative advantage
G)Market failures
H)NAFTA
I)Domestic government
J)Consumption possibility curve
K)Infant industry argument
L)Quota
M)Prohibitive tariff
N)Exporters and importers





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