In which of the following conditions, the domestic price a product will be equal to the world price in a country? [A] trade restrictions are imposed on the product in that country [B] the country chooses to import, but not export, the product [C] the country chooses to export, but not import, the product [D] the country allows free trade

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if the world price is 5 dollars and import quota 300. The price after the quota will be ?   I dont understand how to read this graph and make real sense the data and how it is affected by the tax.   I struggle with the formulas needed to make conclusions about the information

"Whatever can be done by a tariff can be done by a Quota". Agree or Disagree and why?

Consider the market for coffee in the small, isolated country of Krakozhia. Within Krakozhia, the domestic demand for coffee is: Q = 500-2p and the domestic supply of coffee is: Q* = -150+ 3p

What was the General Agreement on Tariffs and Trade (GATT)? List its main accomplishments.

When a government imposes a tariff on a product, the domestic price will equal the world price. a. True b. False

1. You have just been put in charge of trade policy for Jamaica. Coffee is a recent crop that is growing well, and the Jamaican export market is developing, that is, Jamaica coffee is an infant industry. Jamaica coffee producers come to you and ask for tariff protection from cheap Brazilian coffee. What sorts of policies will you enact? Explain. 2.  Does international trade, taken as a whole, increase the total number of jobs, decrease the total number of jobs, or leave the total number of jobs about the same? Hint: Provide your answer (with reasoning) based on what you expect under the partial equilibrium model for the exporting country, the importing country, and the net overall effect on the world.

When a trade restriction is imposed on an imported good: a. the nation imposing the trade restriction suffers a net economic loss b. a loss is imposed on foreign producers c. Both of the above d. Neither of the above

12. If the free trade price is lIP and this country imposes a trade tariff of $3, what will be the resulting net welfare loss to the economy? a)$3 b)$27 C)$13.5 d)$40.5 e)$9 13. if the free trade price is IP and this country imposes an import quota of 6 units, what will be the welfare loss to this economy?    a)$3 b)$27 c)$13.5 d)$40.5 e)$18