A tax on an imported good is called a
A. quota.
B. tariff.
C. supply tax.
D. trade tax.
Assume, for China, that the domestic price of apples without international trade is higher than the world price of apples. This suggests that, in the production of apples,
A. China has a comparative advantage over other countries and China will import apples.
B. China has a comparative advantage over other countries and China will export apples.
C. other countries have a comparative advantage over China and China will import apples.
D. other countries have a comparative advantage over China and China will export apples.
Suppose India exports cars to France and imports wine from Argentina. This situation suggests
A. India has a comparative advantage relative to Argentina in producing wine, and France has a comparative advantage to India producing cars.
B. India has a comparative advantage relative to France in producing cars, and Argentina has a comparative advantage relative to India in producing wine.
C. India has an absolute advantage relative to France in producing cars, and Argentina has an absolute advantage relative to India in producing wine.
D. India has an absolute advantage relative to Argentina in producing wine, and France has an absolute advantage relative to India in producing cars.
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