Norvada Is a Small Nation That Has Followed Protectionist Policies

question 142

Multiple Choice

Norvada is a small nation that has followed protectionist policies for many years.Which of the following would be an example of a nontariff barrier established by Norvada?

• A)Establishment of a tax levied on imported goods so that foreign products are more expensive than competing domestic goods.
• B)Establishment of a tax levied on imported goods designed primarily to raise money for the government.
• C)Establishment of restrictive quality standards requiring foreign firms to make expensive modifications to their products before they could be exported to Norvada.
• D)Participation in the Uruguay Round of GATT negotiations.

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Definitions:

Significance Level

A threshold within statistical hypothesis testing that measures the probability of rejecting a true null hypothesis, typically denoted by alpha (α).

Location

Refers to the specific position or area where something is situated or occurs.

Critical Value

A point on the test distribution that is compared to the test statistic to determine whether to reject the null hypothesis in hypothesis testing.

Wilcoxon Signed Rank Test

A statistical test that does not assume a specific distribution, designed to compare two related samples, matched pairs, or repeated measurements from the same sample.