A country’s policy of supporting higher domestic agricultural prices against lower world prices to ensure profitable production prices in an agricultural sector is best defined as: a. Embargo b. Export Subsidy c. Import Tariff d. Import Quota

Q: The united states is a big exporter of animals feeds, corn ,meat, fruits, vegetables and other…

A: Globalization is the distribution across national boundaries and cultures of goods, technology ,…

Q: Firms hurt by lower priced imports typically argue that restricting trade will save U.S. jobs.…

A: Free trade is an unrestricted trade policy that encourages the flow of commodities and services…

Q: What is often the goal of quotas? Question 27 options: to protect domestic producers to improve the…

A: Quota-It is restriction ,which is put on foreign trade by the Government. It controls the exports…

Q: Compared to price in a completely closed economy, a market in an open economy with an effective…

A: In a closed economy, no trade is allowed. In other words, it is a self-sufficient country that does…

Q: A country imposing a tariff can benefit in terms of social welfare if A. The terms-of-trade benefit…

A: Total economic loss or deadweight loss is the summation of the loss of producer surplus and consumer…

Q: One advantage of a tariff over a quota, from the perspective of the nation imposing it, is that a…

A: The tariff is a duty or tax imposed by the government of a country upon the traded commodity when it…

Q: Subject 3: Protectionism The supply and demand for wheat in the small country Tinyland are: Q° = P…

A: Given  Domestic supply equation: Qs=P           ... (1) Domestic demand equation: Qd=400-P…

Q: Describe the potential advantages to the economy if the government offers an export subsidy

A: A subsidy refers to benefits provided by the government to firms or households. These benefits are…

Q: A numerical limit imposed by a government on the quantity of a good that can be imported into the…

A: Government impose various methods to reduce Import of various goods which will affect the demand for…

Q: Can you answer this please? Explain the concept of a trade embargo and its effect on the country…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Manny ships wheat from the United States to Japan. Wheat is also shipped to Japan from Australia.…

A: The duty reduction by Japan for Australia exporting the wheat to Japan is because of the economic…

Q: Subject 3: Protectionism The supply and demand for wheat in the small country Tinyland are: Q° = P…

A: Given: The demand function for wheat is: Qd = 400 - P The supply function for wheat is: QS = P The…

Q: Supporters of import restrictions and protectionist policies place greater weight on producer…

A: The gain realized by the consumers when the maximum price that they are willing to pay for a product…

Q: the past, Canada has agreed to set an upper limit on the total amount of softwood lumber exported to…

A: A country will export a good in which it has abundance production. This implies if quantity supplied…

Q: Consider a small open economy country that produces cars. The world price of cars is less than the…

A: An economy engages in international trade on the basis of the principle of comparative advantage. A…

Q: A tariff on imports benefits domestic producers of the imported good because It hurts foreign…

A: The product is imported if the domestic price is higher than the world price. Any tariff on the…

Q: Exporting countries Which of the following will be true, everything else remaining constant, for a…

A: Goods and services produced in one country and sold to consumers in another are known as exports.…

Q: Many trade instruments protect domestic producers at the expense of consumers. Which of the…

A: When a government proclaims itself a rule maker or market regulator, it is expected to intervene…

Q: Critically discuss the economic rationales for Governments to intervene in international trade which…

A: INTERNATIONAL TRADE Disparities in technology, differences in resource endowments, differences in…

Q: A country that implements a voluntary exports restraint must experience a decrease in welfare.…

A: When an open economy is implementing voluntary exports restraint, it is the situation when it…

Q: If international trade is allowed and price of certain commodity internationally is below of the…

A: Producers supply more goods to consumers if the price is high and producers supply fewer goods to…

Q: What are some of the “controllable aspects” of a new market that the exporter may have control over?

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: A tariff is A. a tax imposed on imports. B. any non-subsidy used to increase trade. C. any non-tax…

A: Trade restrictive policy refers to the policies that place restrictions on the free trade, i.e…

Q: TRUE OR FALSE? EXPLAIN. To protect an industry, it is best when the Effective Rate of Protection is…

A: Answer -     Free Trade area : - It is the are where the all countries can trade freely without fear…

Q: A country imposing a tariff can benefit in terms of social welfare if A. The terms-of-trade benefit…

A: The tariff is a kind of tax barriers used by the government in order to promote or protect the…

Q: A tariffs; Select one: is a government policy that inhibits trade with methods that are not as…

A: Tariffs are levied on imported goods as taxes or duties (customs duties). The objectives are to…

Q: US places a tax on imported frozen chicken Japanese trade restriction says that only 3 million…

A: A tax on the import of goods is termed a tariff The US places a tax on imported frozen chicken -…

Q: A tariff is: a. A limit on the number of foreign goods entering a country b. A tax on imported goods…

A: Tariff A tariff is a form tax that is imposed by a government on products and services imported from…

Q: Are there import restrictions in Canada on American products? Here discuss USMCA instead of NATO.

A: In the international market, trade restrictions refers to the intervention of the government when…

Q: To protect the interest of domestic business houses and customers is the agenda of the Government of…

A: International trade refers to the exchange of goods and services between countries across the world.…

Q: A large country introduces export subsidies with free international trade and perfect competition.…

A: International trade agreements govern the exchange of goods and services between two or more…

Q: In South Korea's state-led industrialization, export subsidies allowed South Korean products (from…

A: Industrialization is the transformation of an economy from one that is predominantly agricultural to…

Q: Tariffs and import quotas would benefit the following groups, except    consumers of the product…

A: International trade is the trade that takes place beyond the national borders of a country. Tariffs…

Q: A government supporting the difference between global export market prices and higher domestic…

A: In international trade if world price is lesser than domestic price government may intervene in…

Q: world price is greater than the domestic price of corn in the U.S., then A) U.S. will import corn…

A: Equilibrium is achieved in the market where domestic quantity demand equals domestic quantity…

Q: You learned that there are some arguments in support of restricting imports. Match the right and…

A: The international trade refers to the exchange of goods and services with other country. In contrast…

Q: With multilateral negotiations, a country reduces its trade barriers without other countries also…

A: Multilateral trade negotiations make developing countries competitive and thus strengthen the global…