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True or False
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1
Protectionists want to reduce foreign competition against U.S. goods.
A)True
B)False
2
A country should strive to export more than it imports over time.
A)True
B)False
3
A country's population as a whole will benefit from import restrictions.
A)True
B)False
4
Everyone in an economy benefits equally from free trade.
A)True
B)False
5
Foreign investments in the U.S. provide foreign currencies to import goods.
A)True
B)False
6
Both tariffs and quotas result in higher prices and lower quantities for consumers.
A)True
B)False
7
NAFTA is a customs union between the U.S., Canada and Mexico.
A)True
B)False
8
Dumping occurs when producers sell abroad at a price below the cost of production.
A)True
B)False
9
The WTO prohibits member nations from imposing tariffs on other members.
A)True
B)False
10
Dumping is not ever considered an unfair trade practice.
A)True
B)False





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