the following next question. Quantity Demanded Domestically 1,400 1,600 1,800 2,000 2,200 2,400 Quantity Supplied Domestically 2,200 2,000 1,800 1,600 1,400 1,200 Price $10 9. Assume the small-country model is applicable. If the world price of the product is $6 and a tariff of $1 per unit is applied to imports of the product, then the tariff would generate government revenues of O A) $600. B) $1,200. C) $800. D) $400.

A country decides to impose higher tariffs on imported goods to encourage domestic production. This policy change impacts the circular flow of income and expenditure by altering the dynamics of international trade. In this scenario, the imposition of tariffs on imports primarily:A) Acts as a leakage in the circular flowB) Functions as an injection into the circular flowC) Has no significant impact on the circular flowD) Reduces government expenditure in the circular flow   Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate.

Which of the following arguments might be legitimate reasons for limiting imports?     a) Imports destroy jobs in the import-copeting industry so we should protect this industry to save jobs.     b) We need to impose tariffs fo stop our industries moving their operations and jobs to lob wage countries     c) if the cost of shifting resources from import-competing industries are high enough so that together with the other transaction costs they exceed the gains from trade, we should slow down the imports.     d) Low income countries' ability to buy our goods is so much less that our ability to buy theirs, that in order to have balanced trade, we should impose some restrictions of imports from such low income countries.     e) Some countries     f) Some foreign producers sell below their costs in order to monopolize the market so they can raise prices to monopoly levels and fleece our cosumers, so we should impose restrictions specific to such…

1. Explain in  detail a) What is the welfare impact of quotas compared to tariffs? b) Which one of the two (quotas or tarrifs) is a more flexible tool to use?

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

Consider a smopec in the market for bread. The domestic equilibrium price without trade would be above the world market price. If the country imposes a tariff on imports, this would lead to O No changes, because the world price would go above the domestic equilibrium price O Consumer gaining surplus O Producers gaining surplus O An increase in total welfare

[India is the world’s largest consumer of sugar. Assume the world price for sugar is $750 per ton.] [Assume India currently has a tariff of $50 per ton on sugar and imports 7 million tons of sugar. Show this situation in a graph. Label the quantity demanded and the quantity supplied domestically and imports clearly on a graph. Explain your graph in 3-4 sentences. How to draw the graph?

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Which Americans benefit from the tariff? Why?    Describe why the imposition of a tariff creates a deadweight loss.

The US decides to impose a tariff on Avocados of $0.75 each Under Free Trade you have the following information: $1 per Unit World and US Price: Domestic Consumption 25 Billion Units 1 Billion Units Domestic Production: Under a Tariff you have the following information: New US Price: $1.75 per Unit Domestic Consumption: Domestic Production: 21 Billion Units 5 Billion Units (a) How much does the government gain in tariff revenue? (b) How much do domestic producers gain? (c) How much do consumers lose? (d) What is net national or "dead weight" loss?