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True or False
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1.
If quotas are allocated based on fixed favoritism, government assigns import licenses to firms without competition, applications, or negotiation.
A)TRUE
B)FALSE
2.
If import licenses are auctioned off by the government, domestic producers will get the revenue generated from the auction.
A)TRUE
B)FALSE
3.
Domestic monopolies prefer tariffs to quotas.
A)TRUE
B)FALSE
4.
Section 301 of the U.S. trade law allows the president to unilaterally use the threat of import barriers in order to pressure foreign governments to remove allegedly unfair trade policies that limit the access of U.S. exports to the foreign country's markets.
A)TRUE
B)FALSE
5.
A voluntary export restraint has the same effects on economic welfare as a tariff.
A)TRUE
B)FALSE





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