If the effective rate of protection is greater than the nominal rate of protection, there must be ...

If the effective rate of protection is greater than the nominal rate of protection, there must be tariffs on intermediate products.

Indicate whether the statement is true or false

Question 2 - For China

A) there was a long period of success with the economic results of communism so it was hard to change policies.
B) reform of its economic system was rapid, with a quick dismantling of most of the controls exercised by the state and party over the economic system, but not the political system.
C) economic reforms were intended to create more wealth to distribute, not do undo the communist party.
D) there are no longer state owned enterprises.

Question 3 - Nontariff barriers to trade are less transparent than tariffs.

Indicate whether the statement is true or false

Question 4 - Which of the following is true?

A) India is the world's largest democracy.
B) India began reforming and opening its economy prior to China.
C) At the end of the twenty-first century, China will have a larger population than India.
D) India has a larger manufacturing sector than China.

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If the effective rate of protection is greater than the nominal rate of protection, there must be ...

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