Answered: If the external value of its currency…

If the external value of its currency decreases in a country, what does it affect? a) Volume of imports b) Volume of exports c) General price level d) All of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Tariff O people who favor few or no trade restrictions O people who favor trade barriers that…

A: Tariffs are one of the tax forms that government imposes on goods and services.

Q: If Zambia is open to international trade in limes without any restrictions, it will import tons of…

A: Domestic demand may be defined as the total amount of the money That the government companies and…

Q: A tariff or quota that limits the entry of foreign goods to the U.S. market will benefit domestic…

A: A tariff is a per unit tax imposed on importing good in the domestic economy, which raises its price…

Q: Which of the following can exported to help stabilize the North African and Southwest Asia economy?…

A: The economies of North Africa and the southwest region of Asia confront many kinds of difficulties,…

Q: What can government do to limit imports

A: Import limits are a set of tariff and non-tariff barriers introduced by an importing country to…

Q: Discuss the role of transport in facilitating global trade

A: The objective of this question is to understand the role of transport in facilitating global trade.…

Q: Namibia import most of its goods, and to encourage local production it can levy a tariff on imports.…

A: Tariffs: These are the indirect taxes that are being imposed by the governments around the world on…

Q: Risk and Benefits of Exporting

A: Risk:- 1 High packaging transportation(additional cost)and insurance cost 2 Exporting is not…

Q: he imposition of an import tariff by a small nation: (Explain the right answer as well as the wrong…

A: A tax which is being imposed by a government on imports or exports of goods of a supranational union…

Q: The following table shows the product market in a small country. Quantity Demanded Domestically…

Q: Which one of the following is not a reason why import tariffs (duties or taxes) are imposed on…

A: Barriers to trade encompass multiple governmental regulations and procedures that restrict or hinder…

Q: Analyse how protectionism can affect consumers in a country

A: Meaning of Trade: The term trade refers to the situation under which the products and goods are…

Q: List out the beneficiaries of both import and export with their benefits.

A: Import of goods and services refers to buying goods and services from a region that lies outside the…

Q: Assume the nominal tariff rate on the imported input is 0.16 and the nominal tariff rate on an…

A: Given Nominal tariff rate on imported input ti = 0.16 Nominal tariff rate on imported final product…

Q: What does it mean by imports that threaten national security when pertaining to regulating import…

A: When talking about opening of an economy to make international trade, it can be seen that there is…

Q: What does Mexico export?

A: Mexico is a country that is constantly growing and raising its GDP. International rade plays a…

Q: how did the policies or laws relating to importation of oil and petroleum of countries affect their…

A: In the United States, there is concern over conflict in the realm because it not only is destructive…

Q: import and export?

A: Imports are the goods and services, purchased from the rest of the world by a country, rather than…

Q: The supply of wheat in a small open economy is given by S= -100+10p and its imports demand function…

A: Supply function of the economy is S = - 100 + 10p The import function is M = 750 - 15p Where S is…

Q: PRICE (Dollars per ton) 980 Domestic Demand 930 880 830 780 730 680 630 580 530 480 + 1 Domestic…

A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…

Q: give a detailed examples of cross border supply, consumption abroad, commercial presence and…

A: Cross-border:- Explanation:- This mode of supply can be explained as the services provided from one…

Q: True/ False International trade can leads to a enhancement in the product available for the…

A: International trade refers to the exchange of goods and services across borders or between…

Q: Discuss about European Economic Community (Common Market)

A: European Economic Community (Common Market) Previously (from 1957 to November 1, 1993), the European…

Q: What are the opportunities and threats when Malaysia chooses to grow and produce their own coffee…

A: The firms get engaged in international trade for a similar reason they take part in domestic…

Q: What are Special Economic Zones. What value do they offer companies in entering an international…

A: A special economic zone is a region in a nation that is put through different economic regulation…

Q: __________ acts as the guardian of the EU treaties by enforcing EU law.

A: EU law, often known as European Union law, is a legal system unique to the European Union's 28…

Q: Find an Article about EU Fruit and vegetables reform.

A: Introduction The European Union is one of the major players in world horticulture. The fruit and…

Q: dumping is done with the goal of driving domestic firms out of business.

A: Dumping is done by the foreign companies to drive out the domestic firms. These firms charge price…

Q: T F Quotas may be set on worldwide imports or onimports from a specific country

A: Quotas on import are limits implemented by the government of a country inorder to manage the…

Q: What are some potential approaches to achieving global food security

A: Food availability for all people will be guaranteed through global food security. Global food…

Q: Analyze current economic situations with particular emphasis on tariffs, and how these affect the…

A: 1. Tariffs are taxes that are placed on imported goods. They are designed to make imported goods…

Q: A big country with a good's demand described by P= 150 - 3Q and a good's supply described by P= 40 +…

A: Answer a) Demand P = 150 - 3QSupply P = 40 + 2Q 150 - 3Q = 40 + 2Q 110 = 5Q Q = 22…

Q: Which of the following is NOT a possible positive outcome related to tariffs? A Improved national…

A: Tariff refers to the government protection to domestic producers from foreign competitors as it is…

Q: Which of the following is an objective of dumping?

A: The basic objective of dumping is to increase the market share in a foreign market by driving out…

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: 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: Import Policies of Trinidad and Tobago (2021)

A: Today, no country can generate everything it needs to be fully self-sufficient. Import trade is the…

Q: It is appropriate for a country to impose trade restrictions on exports that might endanger its…

A: Trade restrictions refer to government policies that limit or regulate the flow of goods and…

Question

If the external value of its currency decreases in a country, what does it affect?
a) Volume of imports
b) Volume of exports
c) General price level
d) All of the above

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

(a) You have read all the time that trade brings net benefits to nations open to it. But are there any costs or drawbacks that come with open global trade? (b) Consider a country that is open to trade, but is using protectionist policies like tariffs and quotas. Why do you think that most consumers do not vigorously oppose these protectionist policies? (c) Suppose the country in (b) imports and exports goods and services from more than 80 different nations, but the bulk of its imports and exports tend to come from the same five nations. What might be the reasons that the majority of its imports and exports come from only five different nations as opposed to being more evenly spread across the 80 different nations that it trades with?
What do you call the Taxes imposed on goods exported from or imported to a country? (Please provide just a short explanation, thank you)
Under free trade, the quantity of smartphones produced by local producers in Country A is 15950 per year and the quantity of smartphones bought in Country A is 98619 per year. After the imposition of an import quota of X units per year, the quantity of smartphones produced by local producers in the aforementioned country is 43803 per year and the quantity of smartphones bought in the aforementioned country is 70085 per year. What is the value of X?
Under free trade, the quantity of smartphones produced by local producers in Country A is 20040 per year and the quantity of smartphones bought in Country A is 82279 per year. After the imposition of an import quota of X units per year, the quantity of smartphones produced by local producers in the aforementioned country is 45727 per year and the quantity of smartphones bought in the aforementioned country is 62641 per year. What is the value of X?
Tariffs redistribute income from consumers to domestic producers. True False
If the United States adopts a law that every good imported from another country must be visually inspected by government inspectors, then this law might be considered as ______________. Group of answer choices a government bureaucracy a non-tariff barrier an import quota a quota
Do you tariffs also reduce the volume of exports
what were the effects of tariffs on the EU-US political relations and the general effects on the consumer markets?
1._______ The total value of a nation’s exports minus thetotal value of its imports over some period of time
PRICE (Dollars per ton) 865 Domestic Demand 830 795 760 725 690 655 620 585 550 515 7 0 40 80 Domestic Supply PW 120 160 200 240 280 320 360 400 QUANTITY (Tons of oranges) If Honduras is open to international trade in oranges without any restrictions, it will import A tariff set at this level would raise $ Suppose the Honduran government wants to reduce imports to exactly 160 tons of oranges to help domestic producers. A tariff of $ will achieve this. tons of oranges. in revenue for the Honduran government. per ton
Who benefits from tariffs? Government or domestic industries?
What should be done to address the current issue regarding tourism?