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Choose either True or False to each question. 1. Persons returning to the United States from most foreign countries must pass through customs. 2. One reason for placing a tariff on imports is to increase in imports. 3. According to the “infant industry” argument, nations, should levy a tariff to protect their newly developed industries 4. One purpose of a quota is to limit imports.
5. Suppose that the tariff on an item is $1 a pound. U.S. firms make
this item for sale at $10 a pound. British manufacturers can
deliver the item to the United States for sale at $7 a pound. Because of the $1 tariff, Americans would probably not buy the British-made item.
6. Suppose that the tariff on the item described in question 5 is increased to $4 a pound. Americans are now likely to buy the item
made by U.S. firms.
7. If the United States eliminated all tariffs, the price of imported
goods would soon be likely to drop.
8. If the United States restricted the amount of Swedish money that
importers could obtain, this would have no effect on our imports
from Sweden.
9. Companies that export a substantial amount of their products are
more likely to be in favor of restrictions on foreign trade than those
firms that sell most of their products domestically (at home).

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Baraq

A sentence or notion having true or false response implies that such could be a fact or fables that is, not real. Read below to determine the truth or falsity of the following assertions.

Which is true and which is false?

The following are either true or false:

  1. Persons returning to the United States from most foreign countries must pass through customs. True
  2. One reason for placing a tariff on imports is to increase in imports. False
  3. According to the “infant industry” argument, nations, should levy a tariff to protect their newly developed industries False
  4. One purpose of a quota is to limit imports. True
  5. Suppose that the tariff on an item is $1 a pound. U.S. firms make this item for sale at $10 a pound. British manufacturers can deliver the item to the United States for sale at $7 a pound. Because of the $1 tariff, Americans would probably not buy the British-made item. False
  6. Suppose that the tariff on the item described in question 5 is increased to $4 a pound. Americans are now likely to buy the item made by U.S. firms. True
  7. If the United States eliminated all tariffs, the price of imported goods would soon be likely to drop. True
  8. If the United States restricted the amount of Swedish money that importers could obtain, this would have no effect on our imports from Sweden. False
  9. Companies that export a substantial amount of their products are more likely to be in favor of restrictions on foreign trade than those firms that sell most of their products domestically (at home). True

Therefore, the correct responses or answers to the above assertions are given above.

learn more about international trade: https://brainly.com/question/15115779

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