Under Many Trade Agreements Signed Between Countries, Countries Are Allowed

question 115

Multiple Choice

Under many trade agreements signed between countries, countries are allowed to impose tariffs on imports if foreign firms are selling products below their production cost.This is exactly what occurred when the United States raised the tariff on wire hangers imported from China.This tariff

• A)increased wages in the Chinese wire hanger industry and increased imports of Chinese wire hangers to the United States.
• B)decreased imports of chinese wire hangers to the United States and increased exports of U.S. wire hangers to China.
• C)saved some jobs in the U.S. wire hanger industry, but increased costs and possibly cost jobs in the U.S. dry cleaning industry.
• D)increased costs in the Chinese wire hanger industry and decreased costs in the U.S. wire hanger industry.

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Definitions:

Reverse Flows

The process of moving goods from their typical final destination for return, repair, remanufacturing, or recycling.

Telemetry Data

This entails the collection and wireless transmission of data from remote or inaccessible sources to an IT system for monitoring and analysis.

Active Sensors

Sensors that require an external power source to operate and can actively gather data about the environment.

Supply Chain Reaction Times

The time it takes for the elements within a supply chain to respond to changes in demand, supply, or other external factors.