Which of the Following Methods of Import Protection Leads to the Largest

question 22

Multiple Choice

Which of the following methods of import protection leads to the largest deadweight loss for the importing country?

• A)quota
• B)countervailing duty
• C)tariff
• D)import duty
• E)dumping

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Definitions:

Toady

A person who flatters or defers to others for a self-serving purpose; essentially, a sycophant.

Injunction

A court order compelling a party to do or to refrain from doing a specified act.

Liquidated Damages

A pre-determined amount of money agreed upon in a contract, paid as compensation for failure to perform certain obligations by the stipulated deadline.

Earthquake

A sudden and violent shaking of the ground, sometimes causing great destruction, as a result of movements within the earth's crust or volcanic action.