Suppose the government of Country A imposes a tariff on the goods and services imported from Country B. Draw two graphs to illustrate the changes in the values of Country A’s currency and Country B’s currency.

https://www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services Here’s the link for the data ^

As the balance of trade are $100 and the import of the goods are $350 find the exports of goods?

The United States has enjoyed a trade surplus during the last two decades.True or False

4. Effects of a tariff in a large nation The following graph shows the domestic market for oil in the United States, where Sp is the domestic supply curve, and Dp is the domestic demand curve. Assume the United States is considered a large nation, meaning that changes in the quantity of its imports due to a tariff influence the world price of oil. Under free trade, the United States faced a total supply schedule of Sp+w, which shows the quantity of oil that both domestic and foreign producers together offer domestic consumers. In this case, the free-trade equilibrium (black plus) occurs at a price of $240 per barrel of oil and a quantity of 9 million barrels. At this price, the United States imports 6 million barrels of oil. Suppose the U.S. government imposes a $60-per-barrel tariff on oil imports. On the following graph, use the tan line (rectangle symbol) to draw the new total supply schedule including the tariff (SD+W+T). Then use the grey point (star symbol) to indicate the new…