Discuss carefully how import tariffs, import quotas, and VERs
affect consumers, producers and government revenue in the importing
country? Which import barriers is less distorting and why?
What is a multinational? Please provide an example. What are
tariffs? Import quotas, and embargo? What is the relationship
between them? What is the WTO? What is their purpose? Why was NAFTA
created? What is one benefit, and one drawback? Name 3 ways to
manage a business ethically.
A government can reduce the welfare inefficiencies caused by a
monopoly by
imposing tariffs.
setting the price to the Average Total Cost.
taxing the monopoly.
All of the above.
Argue
for or against the U.S. enacting barriers to imports (such as
tariffs and quotas). In what situation(s) do you think barriers
help to develop our national export power, and in what situation(s)
do you think it harms our international trade relationships?
Provide at least one example from the Internet to support your
argument.
What is "the welfare triangle" method of measuring the welfare
costs of monopolies and tariffs? Why does Tullock say that this
method underestimates the welfare costs of tariffs and monopolies
(and what are the costs that are not measured in the welfare
triangle method)?