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Trade between nations can be mutually beneficial if one country has
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- Direct investment should only be used when there is a low chance of success and the market has weak potential the market is stable and flat there is a low chance of success and the market has strong potential there is a high chance of success and the market has strong potential there is a high chance of success and the market has weak potentialA tariff is usually considered to be better than a quota because quotas hurt domestic producers; tariffs hurt foreign producers. tariffs produce tax revenue. tariffs help domestic producers more than quotas. quotas are inflexible. it does not distort trade as much.You 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.
- An import Tariff does: Increase domestic consumption Decrease domestic production Decrease domestic prices Increase government revenuePlease no written by hand and no emage Countries use a variety of ways to protect their trade. One way is to enact tariffs, which tax imports. This immediately raises the price of imported goods, making them less competitive when compared to locally produced goods. This works especially well for a country like the U.S., which imports a lot of consumer products and oil. The most famous example is the Smoot-Hawley Tariff of 1930. It was originally designed to protect farmers from agricultural imports from Europe, which was stepping up farming after the destruction of World War I. Go online and find out about the Smoot-Hawley Act. What role did the Smoot-Hawley Act play in the Great Depression? Into which ideological perspective would you classify the Smoot-Hawley Act? Explain your reasoning.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 dumping
- Which of the following led to trade with colonies becoming more profitable than trade with the Far East? a) the focus of commercial activity shifted to britain and france b) free markets took hold in spain and italy c) the suez canal was constructed to shorten trade routes with the far east d) the focus of commerical activity shifted to spain and italyAll of the following statements about import tariffs are true except Group of answer choices they result in countries selling the product at a lower price to domestic consumers they reduce the volume of trade and the gains from trade they limit specialization and the division of labor they yield revenue for the government that levies tariffsQuestions 1 and 2 refer to a big home country exporting good Q to ROW (Rest OF the World). The export supply and import demand for good Q are as follows: XS = P MD = 100 –P - Where XS, MD, and P are respectively export supply, import demand, and price Under free trade a. The equilibrium Q and Pare respectively. b. The welfare gains from free trade of the Home country and ROW are respectively. Suppose the Home country gives a subsidy of $20 per unit of exports. With the subsidy a. The equilibrium Q and Pare respectively. o. In comparison with free trade, the changes in home government expenditure, in ROW's welfare, in exporters' welfare, in Home welfare, and in world welfare are and and and and respectively.
- In South Korea's state-led industrialization, export subsidies allowed South Korean products (from Samsung, Hyundai) to be sold all over the world. Compare and contrast export subsidies to import tariffs. Which factor might lead a country to decide on one or the other?One advantage of a tariff over a quota, from the perspective of the nation imposing it, is that a tariff decreases the domestic price increases the quantity of imports decreases the quality of imports raises tax revenueShould the Trade Embargo on Cuba Be Lifted? Three years after Fidel Castro took power in Cuba and installed a Communist regime, the U.S. government initiated a trade embargo against the nation. The embargo was intended to put economic pressure on the Cuban government. Today the embargo is still in effect— one of the longest trade embargos in modern history. Opponents on each side of the issue debate its effectiveness. Who is right? As you read the selections, ask yourself: Should the trade embargo on Cuba be lifted or remain in place? PRO A HALF-CENTURY OF FAILURE For almost half a century, the U.S. government has tried to isolate Cuba economically in an effort to undermine the [Communist] regime [of Fidel Castro] and deprive it of resources. Since 1960, Americans have been barred from trading with, investing in, or traveling to Cuba. . . . As a foreign policy tool, the embargo actually enhances Castro’s standing by giving him a handy excuse for the failures of his…