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Economics Cerification Guide: Mock Test 15

World Price and Comparative Advantage Notes Questions with Answers PDF Download - 15

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The Quiz: If the price of coconut is higher than the domestic price, then USA will get profit by "World Price & Comparative Advantage" App (iOS, Android) with answers: selling domestically, importing, producing domestically, and exporting for online bachelor's degree in business management. Practice international trade questions and answers to improve problem solving skills to learn online certificate courses.

World Price & Comparative Advantage Quiz with Answers PDF Download: MCQs 15

MCQ: 71

If the price of coconut is higher than the domestic price, then USA will get profit by

  1. importing
  2. selling domestically
  3. exporting
  4. producing domestically
MCQ: 72

A tariff that is the mixture of ad valorem and specified rate is known as

  1. specific tariff
  2. ad valorem tariff
  3. import tariff
  4. compound tariff
MCQ: 73

The basic example of a perfectly competitive market is

  1. many buyers and sellers
  2. restrictions to entry
  3. restrictions to exit
  4. goods offered are different
MCQ: 74

A formal agreement between two or more companies or countries that agree on certain ideas and operate internationally is called as

  1. cartel
  2. inventory
  3. international cartel
  4. trade
MCQ: 75

The tax rate an individual would pay on one additional dollar of income is called as

  1. marginal tax rate
  2. average tax rate
  3. total tax rate
  4. partial tax rate

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