A Country That Must Inhibit Imports Should Give Preference to

question 157

Multiple Choice

A country that must inhibit imports should give preference to

• A)quotas over tariffs because quotas are less likely to distort trade patterns between nations.
• B)tariffs over quotas because, unlike quotas, tariffs offer no special benefits to inefficient exporters.
• C)export subsidies over quotas or tariffs because export subsidies can protect a nation's domestic producers.
• D)an embargo wherever possible because an embargo can serve as a political weapon in addition to being a "trade stopper."

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Definitions:

Current Costs

The present-day costs of goods and services, not adjusted for inflation.

Logrolling

The practice of exchanging favors, especially in politics by reciprocal voting for each other's proposed legislation.

Vote Trading

The practice of exchanging votes among legislators to achieve a desired outcome on specific bills or policies.

Legislators

Individuals who are members of a legislative body, responsible for discussing and enacting laws in a particular jurisdiction.