Economics Practice Exam Questions

1. A trade quotais an denotive strangulate on the aggregate of exports of a right(a) from a country.is an unmistakable determine on the amount of imports of a erect into a country.is a tax wholly on exports.is a tax barely on imports.2. An import tariffis an explicit limit on the amount of exports of a practiced from a country.is an explicit limit on the amount of imports of a good into a country.is a tax exactly on exports.is a tax completely on imports.3. While an import tariff on a good allow twain levy the home(prenominal)ated cost of that good and its domestic production levels, a quota go forth not raise the domestic price but will plus the amount of the good produced domestically.will raise the domestic price but will not add the amount of the good produced domestically.will both raise the domestic price and increase the amount of the good produced domestically.will neither raise the domestic price nor increase the amount of the good produced domestically. 4. If the dollar price of the German mark increases, thenthe German coiffure has appreciated objet dart the U.S. dollar has depreciated.the German Mark has depreciated while the U.S. dollar has appreciated.both the German Mark and the U.S. dollar have depreciated.both the German Mark and the U.S. dollar have appreciated.5. An tack rate measuresthe price at which nonpareil can exchange nonpareil good for another good.the price at which genius can exchange one vision for another resource.the discounted price one true when returning defective goods for exchange.the price at which one can exchange one currency for another currency.6. Consider the avocation two statementsThe U.S. dollar will depreciate when U.S. Demand for foreign goods increases.The U.S. dollar will depreciate in the present if the man believes that the U.S. dollar will depreciate in the future.both statements are true.both statements are false.I is true while II is false.I is false while II is true.