As a result of imposition of tariff the
Price of imported goods goes up
Domestic consumption of imported goods goes down
Domestic production of import competing goods increases
All the above
A duty according to the value of the commodity?
Specific tariff
Import duty
Quota
Ad valorem tariff
Comparative cost theory was re-stated as opportunity cost by
F.W. Taussing
Adamsmith
David Ricardo
Haberler
Protectionist policies are sometimes called __________
Expenditure changing policies
Expenditure switching policies
Monetary policy
None of these
The economist who based the comparative cost doctrine the relative factor endowments of the several countries involved was
J.S. Mill
Adam Smith
Bertil Ohlin
Trade permits countries to ________ in products and commodities which they can produce relatively efficiently.
Specialise
Complete equilisation of factor prices
Partial equalisation of factor prices
None of the above
