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Tariff is a tax levied on a particular foreign product
entering a country.True or False
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- Quotas may be set on worldwide imports or on imports from a specific country.True or FalseYou have just been put in charge of trade policy for Malawi. Coffee is a recent crop that is growing well and the Malawian export market is developing. As such,Malawi coffee is aninfant industry.Malawi coffee producers come to you and ask for tariff protection from cheap Tanzanian coffee. What sorts of policies will you enact? Explain.Methods of export promotion
- The United States is known worldwide as being a low-tariff nation. True FalseRisk and Benefits of ExportingA tariff or quota that limits the entry of foreign goods to the U.S. market will benefit domestic producers in the protected industries and harm domestic consumers increase the nation's real income by protecting domestic jobs from foreign competition reduce the demand for U.S. export goods, lowering employment in export industries do both a and c
- A tariff lowers the price of the imported good below the world price. lowers the price of the exported good below the world price. raises the price of the imported good above the world price. keeps the price of the exported good the same as the world price.Which of the following is not included in the objectives of tariffs? To promote indigenous research and development To protect domestic industries from foreign competition None of the above To guard against dumpingWhat does Mexico export?