1) https://openstax.org/books/principles-macroeconomics-2e/pages/21-1-protectionism-an-indirect-subsidy-from-consumers-to-producers 2) https://openstax.org/books/principles-macroeconomics-2e/pages/21-2-international-trade-and-its-effects-on-jobs-wages-and-working-conditions 3) https://openstax.org/books/principles-macroeconomics-2e/pages/21-3-arguments-in-support-of-restricting-imports 4) https://openstax.org/books/principles-macroeconomics-2e/pages/21-4-how-governments-enact-trade-policy-globally-regionally-and-nationally 5) https://openstax.org/books/principles-macroeconomics-2e/pages/21-5-the-tradeoffs-of-trade-policy I need a short summary for these articles, please.

Q: The world price is still $2 and there is still free international trade with no government…

A: Import quotas are set to protect domestic producers from foreign competition. It is one of the trade…

Q: domestic consumption (without tariff) import (with tariff, T=10) Deadweight loss domestic production…

A: ​The impact of tariffs on a small country depends on specific circumstances, including the structure…

Q: Define the differences between the classical, country-based trade theories and the modern,…

A: The objective of this question is to understand the differences between classical, country-based…

Q: a)What was the quantity sold locally per year after tariff ? Please give your answers in two decimal…

A: Given : Quantity produced locally before tariff imposition : 15540 per year Quantity produced…

Q: That a rich country like Germany has such a small ratio of imports to GDP as compared to Belgium is…

A: Germany has the most significant gross domestic product (GDP) generated by the industry in the G7…

Q: Which of the following best explains how subsidies work as a trade restriction? A)They increase…

A: Economist argues that the world resources are optimally utilized under free trade because under free…

Q: International trade policies: International trade policies refer to measures aimed at regulating the…

A: Supply is the term used for the willingness and ability of a seller to sell the product and services…

Q: Scenario & Question 7: A country decides to impose higher tariffs on imported goods to encourage…

A: Imposing tariffs on imported goods can have a profound effect on a country's circular flow of income…

Q: Macroland produces dishes and glassware. Before trade, a set of dishes sells for $100 and a set of…

A: When a country is open to trade , the country will trade at the world price.  When world price is…

Q: The following graph shows the domestic demand for and supply of oranges in Guatemala. The world…

A: Import and export: The aggregate amount of imports that an economy made from the rest of the world…

Q: The below table shows the corn markets in Mexico and the US. What is the equilibrium world price…

A: Shortage is a condition where the quantity demanded is greater than quantity supplied at the market…

Q: Which country is an importing country? (How do I figure this out?) How much is the amount of import?…

A: A market is a place where the buyers and sellers in the economy interact with each other and the…

Q: i need help please

A: Since, you have asked more than one question, we will be answering the first one for you. If you…

Q: The book states “The pain caused by the movement toward a free trade regime is a short-term…

A: The benefits individuals or countries receive when they participate in trade with others are known…

Q: Imagine that you work for the World Bank and you have been called to Ghana to aid the new president…

A: Ghana is a developing country, tries to shift from the agriculture sector to the manufacturing…

Q: If the world price of a good is lower than its domestic equilibrium price, the country will:

A: when the domestic price of the good is higher than world price, opening of free trade will result in…

Q: If Honduras is open to international trade in oranges without any restrictions, it will import…

A: Domestic demand and supply refer to the quantity of goods and services that consumers and producers…

Q: Define the differences between the classical, country-based trade theories and the modern,…

A: The objective of the question is to understand the differences between classical, country-based…

Q: What is economic globalization? What are the factors that facilitate economic globalization?

A: Economic globalisation can be defined as the widespread international movement of goods and services…

Q: How do "comparative advantage" and "absolute advantage" influence international trade patterns, and…

A: Comparative Advantage refers to a situation where a country can produce a good at a lower…

Q: According to researcher Richard Vedder, only 21 cents of every added dollar that universities have…

A: ***Since you have posted two independent questions, according to our guidelines, only the two…

Q: (a) (b) (c) (d) (e) (f) Answer ALL parts of this question. Britain and France are countries in a…

A: Absolute Advantage is a situation where one country can produce a higher quantity of the product for…

Q: Define trade liberalization.

A: International trade refers to the exchange of goods and services across the national territory.

Q: What does Globalizing Trade mean? Explain briefly.

A: Globalization implies the speedup of developments and trades (of people, merchandise, and…

Q: Briefly define the four dimension of globalization.

A: International ties are forged in business, politics, culture, society, and the environment.…

Q: Modify Figure 10.10 to show how much would be sold in both sectors in the absence of anti-price…

A: Anti-gouging laws are the protection of prices set by the government during emergencies. It reduces…

Q: Various international crises and issues periodically raise the price of oil imports, which can send…

A: Oil is one of the widely used natural resources because of its multiple uses, such as in cooking,…

Q: In 2015, the European Commission proposed giving individual member states the right to ban imports…

A: Genetically Modified Organisms(GMO) are products that have been worked on in laboratories to…

Q: Which of the following is true of foreign trade zones? These are areas that are physically outside…

A: Foreign trade zones (FTZs), which provide firms with special benefits inside defined areas of the…

Q: After reading the article, Amadeo, K. & Boyle. M (May 18th, 2021). International trade: Pros, cons,…

A: The exchange of products and services across international borders or territory is referred to as…

Q: How do we link the concept of globalization with the economic effects resulting from the decline in…

A: The exposure of an economy with the rest of the world is referred to as globalization. Globalization…

Q: 1)…

A: Absolute advantage alludes to a circumstance where a country, individual, or element can produce a…

Q: 3.25 1.75 89 there's a price-gouging law in effect preventing gas stations from raising prices, then…

A: Price gouging laws are such laws that do not allow sellers of certain goods and services to increase…

Q: Which of the below statements does NOT reflect the ideas expressed by the author Charles Wheelan in…

A: Charles Wheelan is an American economist and professor who gave his findings on economic concept in…

Q: Consider the case of the following large country (all prices are measured in euros, and quantities…

A:

Q: Demand Supply 100 90 Triangle 80 70 60 Polygon 50 40 30 20 10 Price of Steel (Dollars per ton)

A: . Export subsidy is a government policy that encourages the export of commodities while discouraging…

Protective Tariffs

A tariff is a kind of tax that is charged on exported and imported items. It means tariff is charged on both kinds of goods i.e., exported and imported. However, some goods may be exempted from this kind of tariff. Protective Tariffs refer to the charges which a country charged on imported goods to protect its domestic market. It also protects countries Industrialists in their Production. So, that their markets remain intact and do not get dumped by outside supply.