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91Which of the following taxes is easiest to collect?

income taxes

wealth taxes

tariffs

value-added taxes

92Lower-income countries have reduced their dependence upon _____________ over the past 20 to 30 years.

income taxes

wealth taxes

tariffs

value-added taxes

it discourages domestic production.

it reduces the benefits for domestic producers.

it is a source of revenue for the government.

it will encourage domestic consumers to buy foreign goods.

94Tariffs are used to:

collect government revenue.

manipulate world prices.

encourage domestic production.

collect government revenue, manipulate world prices, and encourage domestic production.

95Why should small nations impose tariffs, even though they reduce national welfare?

Small, mostly poor, nations have no reliable means for collecting taxes to run their governments.

Politicians like to build favor with industrial interests, especially during political campaigns.

Congressional raises often hinge on whether or not enough tariff  revenue is collected by the treasury department.  

Small, mostly poor, nations have no reliable means for collecting taxes to run their governments and politicians like to build favor with industrial interests, especially during political campaigns.

96Why didn't U.S. tire producers support the recently enacted tariff on imported Chinese tires?

Many of them manufacture tires in China.

They were already earning monopoly profits.

Since the union supported the tariff, they naturally had to oppose  it.

They wanted the government to impose an import quota rather than an import tariff.

97The politics behind tariff protection suggests that, other things equal, tariffs are more likely to be imposed when the:

benefits to consumers and producers are concentrated on specific firms and states.

benefits to producers and their labor forces are concentrated on specific firms and states.

benefits to producers and their labor forces are spread nationwide

losses to consumers are concentrated on specific firms and states.

98In 2002 the United States relied upon the GATT's ________ to impose tariffs on imported steel.

escape clause

antidumping clause

countervailing duty clause

most favored nation clause

99Section 421 of the amended Trade Act of 1974 allows tariffs to be applied against:

rising imports from China that cause ?market disruption? in a U.S.industry.

any imports that cause market disruption in a U.S.industry.

subsidized Chinese imports.

any imports from Canada or Mexico that violate NAFTA provisions.

100When the United States imposed tariffs of 30% on many steel imports in March 2002, the estimated total cost to the United

States over the period of March 2002 to December 2003 was:

$1 million.

$3.32 for each job saved—certainly worth it.

$185 million.

too small to measure.

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