Which of the following is NOT a common reason why tariffs are used despite being inefficient?

Q: Identify the area(s) of the net gain to the domestic producer when a tariff is imposed on imported…

A: The area U represents the net advantage to the domestic producer when a tariff is applied on…

Q: Briefly define and explain import quotas

A: In an economy, imports are the economic activities in which a country purchase commodities and…

Q: Pertaining to the information given above, Ghana's parliament is debating how to undertake ISI. The…

A: A quota is a trade restriction put in place by the government that restricts how many or how much…

Q: Would tariffs on imported wine be a price floor?

A: Imports are restricted via tariffs. Simply expressed, they raise the price of imported products and…

Q: how can tariff be a source of government revenue?

A: All of the government's earnings from taxes and other sources are referred to as government revenue.…

Q: Give an outline of the following trade restrictions: Tariffs, Quotas, Export Subsidies and VERs.

A: Trade Restrictions is defined as the restrictions that are imposed on the trade of goods and…

Q: Why would an importing country use a tariff rather than a quota?

A: Tariff is a tax that is imposed on the goods that are produced outside the country and sold…

Q: In how many categories, imports have been classified?

A: Imports have been classified into categories:

Q: What are the government’s effects on trade ? Why ? Explain them briefly.

A: Profit is the total income earned after deducting the expenses from the total revenues.

Q: Using a diagram carefully explain the economic cost of tariffs.

A: When a tariff is imposed, the price of a commodity rises. Here, from P1 to P2, so the tariff imposed…

Q: True or false: Internal trade depends on comparative advantages?

A: Internal trade refers to the trade which occurs within the country. There are hardly any…

Q: What is a subsidy we have in the United States and how is that related to protectionism?

A: A subsidy, sometimes known as a government incentive, is a type of financial help or support given…

Q: A primary reason why nations conduct international trade is because

A: The primary reason that why nations conduct international trade is because the resources are not…

Q: Q. 2 Suppose that the government does not intervene in the market. Compute country B’s welfare under…

A: Macroeconomics is a part of economics that deals with production, decision and allocation concerning…

Q: Chart 1 below illustrates the tennis shoe market in Canada. 5-1- If Canada did not trade with other…

A: In the production process, the conditions and fluctuations that happen between demand and also the…

Q: graph shows the effect of a tariff on textile imports. Price of Textiles G D I 8 E I I 902 Quantity…

A: The demand curve will shift downward by an amount equal to the consumption tax in the presence of a…

Q: If there is a net loss to society from tariffs, why do tariffs exist?

A: A tariff refers to the tax imposed by the government on goods imported into the country.

Q: not use ai please

A: Quotas and tariffsThere are two types of protection; Tariffs, which are taxes, or duties, on…

Q: What is the General Agreement on Customs Tariffs and Trade? For what purpose do countries use the…

A: Countries that engage in trade are called open economies. Trade has been a potential weapon in these…

Q: You are watching the nightly news. A political candidate being interviewed says, "I'm for free…

A: When a foreign country Subsidizes the production of an amazing exported to America, it could have…

Q: Is the following statement TRUE or FALSE? Briefly explain why. "If the OPEC countries decide to…

A: OPEC is an organization enabling the co-operation of leading oil-producing countries in order to…

Q: Is international trade likely to have roughly the same effect on the number of jobs in each…

A: The degree and the direction of International Trade which a nation performs with the rest of the…

Q: Explain how tariffs can serve as a barrier to trade and identify at least two benefits of reducing…

A: A tariff is a tax that has to be paid on goods coming into a country from other countries. It is a…

Q: How exactly does a tariff work to restrict free trade? Who benefits from the tariff? Who is worse…

A: Answer to the question is as follows:

Q: if it is no trade, what is the equilibrium price and quantity of sugar in Sri Lanka?

A: No-trade equilibrium price:- The no-trade principle in economics asserts that if marketplaces seem…

Q: Suppose the nation of Isoland is an importer of textiles and is looking for a way to raise…

A: Part 1:Under Tariff|                            | Before Tariff or Tax | After Tariff | Change |…

Q: Which of the following is NOT a reason why countries impose tariffs on imports? Protect domestic…

A: Tariff A tariff refers to the tax which is imposed by the Government of a nation on the importation…

Q: Explain what are the general effects of import restrictions on trade

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

Q: why is the implementation of rice tariffication law in the Philippines not good?

A: The implementation of the Rice Tariffication Law (RTL) in the Philippines has been controversial.…

Q: Use a graph of your choice to briefly illustrate the overall welfare effects of introducing an…

A: Import tariffs are one type of trade restriction that a govt imposes on its economy. It is usually…

Q: List three reasons (along with a thorough explanations) that trade can be beneficial to the…

A: 1) Trade can have both positive and adverse consequences on the environment  Monetary development…

Q: The United States imports a lot of cars, despite having its own auto industry. Each of the following…

A: The foreign markets are dumping/offloading their cheap cars in the USA so the country should use…