Author Question: If Slovenia were a large country in world trade, then if it imposes a large set of tariffs on its ... (Read 94 times)

kfurse · **on:** Jun 30, 2018

If Slovenia were a large country in world trade, then if it imposes a large set of tariffs on its imports, this must

A) decrease the internal price of imports below the world market rate.
B) cause retaliation on the part of its trade partners.
C) harm Slovenia's real income.
D) improve Slovenia's real income.
E) improve the real income of its trade partners.

Question 2

Refer to the table above. Country B has absolute advantage in

A) Good X.
B) Good Y.
C) Neither X nor Y.
D) Both X and Y.