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- 59. Import penetration has increased for the following reasons, except: Select one: O a. Domestic currencies may be undervalued b. Growth in consumer spending is often supported largely by imports O c. Imports may have become more than domestic substitutes d. Foreign currencies may be undervaluedmework Ch33 Question 12, *18.1-10 If a country has a trade surplus of $60 billion, which of the following can be true? OA. The country's exports are $160 billion, and its imports are $60 billion. OB. The country's exports are $120 billion, and its imports are $180 billion. OC. The country's exports are $110 billion, and its imports are $190 billion. OD. The country's exports are $180 billion, and its imports are $120 billion..In 1932, U.S. manufacturers, which used to enjoy steady relationships with their foreign distributors and export nearly 60% of their output, realized that their exports had fallen to only 20% of total output. Which of the following is the most likely reason for this decrease in exports? O The low quality of U.S. products O war between the United States and Canada O Retaliatory tariffs by trading partners The signing of the General Agreement on Tariffs and Trade (GATT) in 1947 resulted in the adoption of several new trade policies. In the following table, indicate if each of the policies listed was a result of GATT. Then, complete the last column by identifying the means by which each GATT policy was implemented. Policy GATT Policy Implementation Promotion of protectionism Clear and public trade rules Promotion of lower trade barriers Yes v Institution of the WTO Promotion of trade transparency Settling trade disputes In the 1960s, multilateral negotiations called the Uruguay Round…
- 7. A high tariff on imported good X might reduce domestic employment in industry Y if A. X is an inferior good. B. Y is an inferior good. C. X is an input used domestically in producing Y. OD. X and Y are substitute goods.Compared to price in a completely closed economy, a market in an open economy with an effective quota imposed will result in a. higher prices due to increased demand for the good. b. lower prices due to decreased domestic demand. c. increased total supply and lower prices. d. increase in prices due to decreased foreign supply. e. domestic demand increases leading to lower prices.Back to Assignment Attempts Average /1 2. Comparing tariffs, quotas, and subsidies Which of the following statements correctly identify the difference in the revenue effect created by an import quota versus that of a tariff? Check all that apply. O Quotas always generate revenue for the government, whereas the tariff's revenue is uncertain. O Tariffs always generate revenue for the govermment, whereas a quota's revenue is uncertain. O The revenue effect of an import quota is essentially the same as that of an equivalent tariff. D Unlike tariffs, quotas do not generate government revenue unless importers are charged a licensing fee.
- If the ratio of the dollar price of a U.S. toy to the dollar price of the same toy sold in China is greater than 1, U.S. toys are ________ than Chinese toys and retailers in the United States should ________. cheaper; buy the toys from American suppliers cheaper; buy the toys from Chinese suppliers more expensive; buy the toys from American suppliers more expensive; buy the toys from Chinese suppliersCan you answer the questions, please? I do not need an explanation, I need only a correct answer. 45) Assume that Outland specialises in producing skateboards and Inland specialises in producing surfboards. After trade, Outland exports 500 skateboards and imports 100 surfboards. The rate of exchange A) is 1/5:1 skateboards to surfboards. B) is 5:1 skateboards to surfboards. C) is 1:5 skateboards to surfboards. D) cannot be determined from this information 46) It costs a computer manufacturer £2000 to produce a personal computer. This manufacturers sells these computers abroad for £1800. This is an example of A) a trade-related economy of scale. B) export subsidy. C) dumping. D) a negative tariff.18. What quantity will Country A supply to the rest of the world at P=$17? 19. What quantity will Country A supply to the rest of the world at P=$13? 20. What quantity will Country A demand from the rest of the world at P=$7? 21. What quantity will Country B demand from the rest of the world at P=$15?
- If the United States is currently importing 14 million barrels per day at a world price of $4.00 per unit (the entire amount consumed), what is the effect on imports of a tax equal to $8.00 per unit? Quantity of Barrels Supplied (Millions) Quantity of Barrels Demanded (Millions) 0 2 4 6 8 10 12 The amount of imports after the $8.00 per-unit tax is responses as a whole number.) ges Price per Barrel Get more help. $4 8 Using the table above, after the imposition of the $8.00 per-unit tax, the new quantity supplied is 4 million barrels and the new quantity demanded is 12 million barrels. (Enter your responses as a whole number.) 12 16 20 24 28 14 13 12 11 10 9 8 million barrels per day. Before the tax, domestic producers supplied 0 barrels of crude oil. They now supply million barrels Clear all (Enter your more less Check answer (e)10 In today's world markets, China tends to rely primarily on exports of () A. agricultural products. B. primary products. C. mineral products. D. manufactured products.Consider the domestic demand for rice to be given by Qd 25-0.5Pand that rice can be imported at an international price of $40 per sack. If the government perceives this price too high and decides to subsidize imports by $20 per sack. This policy will increase imports of rice by and create a deadweight loss of Select one: s units, $20. 20 units, $800 15 units, $50. 10 units, $100.