question 6
The United States imposes a tariff on foreign limes. How does
the tariff affect...
question 6
The United States imposes a tariff on foreign limes. How does
the tariff affect the U.S. price of a lime and the production of
limes in the United States?
Assume a domestic market imposes a tariff on foreign goods. How
will this affect the domestic price? If the foreign market has
highly inelastic supply and the domestic market is highly elastic
demand, which nation will pay the bulk of the tax?
4) How does a tariff affect the government's revenue? How does
an import quota affect the government's revenue?
5) Discuss the reasons why we see trade restrictions. Are any
of these reasons valid?
6) Two arguments used to promote trade barriers are the
infant-industry argument and the dumping argument. Explain each of
these arguments and evaluate whether each one has any flaws.
A country imposes a tariff on imports from abroad. How does this
action change the long-run real exchange rate between the home and
foreign currencies? How is the long-run nominal exchange rate
affected? Will this import restriction necessarily improve the home
country’s trade balance in the long-run? Explain carefully.
Baby boomers constitute a large market within the United States.
How does this aging generation affect the health care industry, and
how should marketing strategies cater to this group?
In order to protect the U.S. steel industry, the United States
has levied a tariff on imports of foreign steel from many nations.
Which of the following effects would an import tariff on steel be
likely to have? (Check all that apply.)Quantity of steel imported would go downPrices paid by U.S. steel buyers would go upPrices received by U.S. steel producers would go downU.S. government revenue would go downIncome to foreign exporters of steel to the USA would go
downTo...
1.
How does a tariff affect the welfare of a consumer?
2. What is a negative externality? What is one way that
government can reduce it?
3. What is a monopolist's main objective?
4. What are the characteristics of a perfectly competitive
market?