A customs union is different from a free-trade area, in that: the world. 1.a free-tradearea removes trade barriers  between memibercountries, whereas customs union adtopts idtentical tarifts with the rest of the world. 2..a free-tradearea allows for uniform tariffs, whereas aCustamis union does not.3. customs unionremoves trade barriers between membercountries, whereas a free-tracte areaadtopts idtentical tarifts with the rest of  the world  e. a free-trade area allows for free movement of factors, whereas a Customs union does not. i will 5 upvotes

Q: sentor Domestic Market with Trade World Price Specifically, at the world price of $60, what is the…

A: The measure that depicts various quantities of goods that are being provided by producers at…

Q: Protectionism refers to open trade. O True False

A: Protectionism refers to restrictions impose on free trade. It is mainly imposed to protect the…

Q: The two primary reasons to adopt measures to restrict trade are that   a. they help keep real wages…

A: International trade is the process of exchange of goods and services between different countries.…

Q: 5. Protectionism a. is the use of cheap labor to protect firms from paying high wages. b. is the use…

A: International trade refers to the concept wherein the countries tend to exchange goods and services…

Q: Whatt is the level of imports with and without the tariff? O With: Q³-Q²; without: Q¹-Q¹ O With:…

A: A tariff is a tax or duty imposed by a government on imported or exported goods. It is used to…

Q: Note: the answer should be typed. And

A: The question is asking about the primary economic advantage of the European Union (EU) to its member…

Q: Protectionism uses tariffs as trade barriers. O True O False

A: A trade barrier is the set of restrictions that the country’s government imposes on international…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Option A : A multilateral approach can reduce trade restrictions abroad as well as at home.…

Q: 4. Under what conditions may a tariff actually make a country better off?

A: Under certain conditions, a tariff can probably make a country better off. Right here are a few…

Q: not use ai please

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

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: A firm is more likely to access a foreign market through Foreign Direct Investment (FDI) than…

Q: Protectionist governments sometimes use tariffs to prevent imports. O True False

A: Economist promotes the free trade as free trade leads to optimal allocation of the world resources…

Q: At a price of $100, domestic consumers demand how many boxes of contacts?

A: Demand is an economic theory that refers to a consumer's desire to buy products and services as well…

Q: Most economists agree that valid reasons for protecting trade include which of the following? 1. The…

A: Economists are professionals who study and dissect economic frameworks, ways of behaving, and…

Q: The most frequent argument used to support trade barriers is that they O protect domestic jobs O…

A: Trade barriers refer to policies such as import tariffs and quotas.

Q: The concern that certain key domestic industries need to be protected with trade barriers is an…

A: please find the answer below.

Q: Suppose the free trade market price of a car is $10,000. It contains $5000 worth of steel. The…

A: The scientific study of goods, industrial-related products and services, and finance transfer is…

Q: NAFTA is a trade agreement between North American countries. O True O False

A: Free Trade Agreement(FTA) was established for a fair set of rules for trade between the agreeing…

Q: PRICE 12 11 10 6 8 7 6 5 4 3 Domestic Demand G A C D B E F Domestic Supply World Price +Tariff World…

A: Introduction A rise in imports increases the tax base while increasing tariff collection. An import…

Q: Sometimes governments use the 'national security' argument to justify protecting an industry with…

A: National security to protect industry tariffs  Answer A option Stockpiling the product is a…

Q: Consider the table below for international transactions between Zambia and the United States of…

A: Import of goods and services from foreign countries gives rise to demand for foreign currency.The…

Q: According to economic theory, if trade opens up between a rich country and a poor country, the…

A: Trade alludes to the exchange of goods and services between at least two parties, typically for…