From an economic perspective, the costs of trade barriers Multiple Choice are outweighed by the reduction in foreign competition provided by the barriers. are lower than benefits for domestic producers and workers. are about equal to the benefits. far exceed their benefits for society.
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- Name and describe at least one international organization or trade agreement which has sought to lower the barriers against trade between nations.Analyze the Economic Effects of Tariffs and Quotas. Give examples.What is the rationale for international trade? Provide a critical assessment of traditional and modern theories of international trade in promoting international trade. Why would a country promote protectionism?
- Explain three barriers to international trade.Explain how government use administrative trade to boost export and restrict imports. Provide an example of an administrative trade policy.Countries take measures to protect their local industries from foreign competition. In terms of this statement evaluate tariffs and quotas as instruments that can be used to regulate international trade.
- Describe as many types of tariffs and non- tariff barriers (NTBs) that are imposed on products and the reasons for their use. Examples are useful.Explain how and why the GATT was created and what its historical role in international trade is.What are the major impacts of immigrants/ immigration on international trade?