6 Written Questions

1. Political Arguments
   Economic arguments
2. concerned with protecting the interests of certain groups within a nation often at the expense of other groups
3. punishing foreign firms that engage in dumping and protecting domestic produces from unfair foreign competition
4. restrict the quantity of some goos that may be imported into a country
5. taxes levied on imports that effectively raise the cost of imported products relative to domestic products
6. selling goods in a foreign market below their costs of productions, or selling goods in a foreign market below their fair market value

6 Multiple Choice Questions

1. Infant industry argument
   Strategic trade policy
   1. Political Arguments
   2. Political Arguments Examples
   3. Economic Arguments Examples
   4. Economic Argument
2. first mover advantages can be important to success
   1. Tariff rate quotas
   2. Administrative Policies
   3. Antidumping Policies
   4. Strategic trade policy
3. concerned with boosting the overall wealth of a nation
   1. Economic Argument
   2. Political Arguments
   3. Quota Rent
   4. Economic Arguments Examples
4. demand that some specific fraction of a good to be produced domestically
   1. Infant industry argument
   2. Local content requirements
   3. Political Arguments
   4. Economic Argument
5. an industry should be protected until it can develop and viable and competitive internationally
   1. Infant industry argument
   2. Economic Argument
   3. Political Arguments
   4. Quota Rent
6. a hybrid of a quota and a tariff where a lower tariff is applied to imports within the quota than to those over the quota
   1. Tariffs
   2. Quota Rent
   3. Tariff rate quotas
   4. Import Quotas

5 True/False Questions

1. Subsidies → taxes levied on imports that effectively raise the cost of imported products relative to domestic products

   True        False

2. Political Arguments Examples → Infant industry argument
   Strategic trade policy

   True        False

3. Administrative Policies → bureaucratic rules designed to make it difficult for imports to enter a country

   True        False

4. Quota Rent → selling goods in a foreign market below their costs of productions, or selling goods in a foreign market below their fair market value

   True        False

5. Voluntary Export Restraints → quotas on trade imposed by the exporting country, typically at the the request of the importing country's government

   True        False