Question
In: Economics
Suppose a country removes an import tariff. Answer the following questions and show them in one...
Suppose a country removes an import tariff. Answer the following questions and show them in one nice big diagram.
a. What is the effect on imports, exports, and net exports? Explain the reasoning with reference to your diagram.
b. What is the effect on net foreign investment and the exchange rate? Explain the reasoning with reference to your diagram.
c. What is YOUR opinion on tariffs and other restrictions to free trade? Carefully discuss.
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
Suppose a country removes an import tariff. Answer the following questions and show them in one...
Suppose a country removes an import tariff. Answer the following
questions and show them in one nice big diagram.
a. What is the effect on imports, exports, and net exports?
Explain the reasoning with reference to your diagram.
b. What is the effect on net foreign investment and the exchange
rate? Explain the reasoning with reference to your diagram.
c. What is YOUR opinion on tariffs and other restrictions to
free trade? Carefully discuss.
Suppose the price of import good is 20 dollar before tariff, and now a small country...
Suppose the price of import good is 20 dollar before tariff, and
now a small country posted a 10% tariff on this product. As the
results, the production of this product of this small country
increase from 1000 to 1200. And the import of this product
decreased from 600 to 200 units.
a. What is the change of producer's surplus?
b. What is the change of consumer's surplus?
c. What is the total tariff revenue?
d. What is the total...
Answer ALL of the questions below! Circle the right expression in the parentheses. Q1. Import tariff...
Answer ALL of the questions below!
Circle the right expression in the parentheses.
Q1. Import tariff (a. raises, b. lowers, c, keeps
constant) the domestic price and (a. always, b.
sometimes, c. never) (a. raises, b
lowers) the world price.
2. (Multiple choices.) A tariff in a large country tends to
benefit (a. domestic producers/ b. foreign producers/ c.
domestic consumers/ d. foreign consumers/ e. domestic government
revenue) and hurt (a. domestic producers/ b.
foreign producers/ c. domestic consumers/ d....
It is more efficient for the government of a small country to impose an import tariff...
It is more efficient for the government of a small country to
impose an import tariff than a production subsidy to stimulate
output because it does not have to pay the producers directly.
Comment and Explain why?
Construct a diagram showing the effect of placing a tariff on an import when the country...
Construct a diagram showing the effect of placing a tariff on an
import when the country is large. Draw your
diagram so that clearly and unambiguously the
tariff decreases national welfare. Explain your
diagram.
When does an import tariff raise welfare for the Home country, and why? What is the...
When does an import tariff raise welfare for the Home country, and
why? What is the effect of a tariff worldwide on welfare, and why?
Explain your answers in words in a short essay (3-4
paragraphs).
When does an import tariff raise welfare for the Home country, and why? What is the...
When does an import tariff raise welfare for the Home country, and
why? What is the effect of a tariff worldwide on welfare, and why?
Explain your answers in words in a short essay (3-4
paragraphs).
*** working with theory of Import tariffs Consider a large country applying a tariff t to...
*** working with theory of Import tariffs
Consider a large country applying a tariff t to imports of a
good.
(a) Draw the Home market and World market supply-demand diagram.
Clearly label the amount of import in the free trade equilibrium
and equilibrium with a tariff.
(b) How does the export supply curve in world market compare
with that in the small country case? Explain briefly why they are
different.
(c) Explain how the tariff affects the price paid by...
Directions: Answer ALL of the following questions. Show ALL calculations and present them in a neat...
Directions: Answer ALL of the following questions. Show ALL
calculations and present them in a neat and an orderly fashion.
Credit will not be given for either unsupported answers or
illegible answers. This is NOT a group assignment. Any indication
of collaboration with your classmates will earn all involved a
grade of zero (0). This assignment is due Monday, October 5, 2020.
However, you may submit it before the due date. Late assignments
are NOT accepted.
The following is information...
Suppose that the Malaysian government is considering whether to impose an import tariff or quota to...
Suppose that the Malaysian government is considering whether to
impose an import tariff or quota to protect domestic automobile
industry. As an advisor, what are your advice to the government?
Please analyse the similarities and differences between import
tariff and import quota when there is a reduction in supply for the
product. Use appropriate diagram/s to demonstrate your answers.
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