Imposing Tariffs in Cases of Dumping

question 43

Multiple Choice

Imposing tariffs in cases of dumping

• A)is allowed under the WTO agreement.
• B)is not allowed under the WTO agreement.
• C)is not addressed by the WTO agreement.
• D)has never occurred, even though it is allowed under the WTO agreement.

---

Definitions:

Competitive Labor Market

A market where employers compete to hire the best, and workers compete for the best satisfying job, with wage rates determined by supply and demand.

Total Product Curve

A curve that shows the relationship between the quantity of inputs used in production and the total quantity of output produced.

Marginal Revenue Product

The additional revenue produced from using one more unit of an input.

Marginal Labor Cost

The additional cost incurred by hiring one more unit of labor.