A tax on imports equal to a percentage of the cost of those imports is known as
a. a specific tariff
b. an ad valorem tariff
c. a tax on luxury goods only
d. an effective quota
e. an ad valorem quota
QUESTION 2Unions sometimes try to ensure that employers hire more union labor than they might otherwise prefer by
a. collective bargaining
b. featherbedding
c. work enlargement
d. restricting the supply of labor
e. increasing the demand for union-made products
QUESTION 3A lump-sum tax per unit on imports is known as
a. a specific tariff
b. an effective tariff
c. a specific quota
d. an effective quota
e. an ad valorem quota
QUESTION 4The United Auto Workers has fought for curbs on imports of foreign-made cars in order to cause
a. a rightward shift in the supply of U.S. cars
b. a leftward shift in the supply of U.S. cars
c. movement to the left along the supply curve for U.S. cars
d. movement to the right along the supply curve for U.S. cars
e. a rightward shift of the demand curve for U.S. cars
QUESTION 5A tariff is
a. a tax on financial transactions
b. a tax on either imports or exports
c. the result of a treaty
d. a penalty imposed on importers of capital
e. an agreement between countries to limit trade
QUESTION 6An appeal to consumers to purchase union-made products represents an attempt to
a. increase the supply of union labor
b. increase the demand for union labor
c. decrease the supply of union labor
d. decrease the quantity demanded of union labor
e. decrease the demand for union labor
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