Test 2 Flashcards
1
Q
optimum tariff is the reciprocal of ______
A
price elasticity of supply
2
Q
biased growth
A
expansion favors producing proportionatley more of one of the products
3
Q
rybczynski thereom
A
is a two good model where product prices stay the same but one of the endowment factors of production rises while the other stays constant
4
Q
immiserizing growth leads to
A
detereration of a countries terms of trade
5
Q
stolpher samuelson theory represents
A
opening to trade splits a country into specific gainers and losers in the long run
6
Q
ad valorem tariff
A
% of estimated market value of the goods
7
Q
specific tariff
A
per unit tariff
