Answered: A tariff is O a tax on financial…

A tariff is O a tax on financial transactions O a tax on either imports or exports O the result of a treaty O a penalty imposed on importers of capital an agreement between countries to limit trade

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 16RQ: Are the gains from international trade more likely to be relatively more important to large or small...

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PRICE (Dollars per ton) 865 Domestic Demand 830 795 760 725 690 655 620 585 550 515 7 0 40 80 Domestic Supply PW 120 160 200 240 280 320 360 400 QUANTITY (Tons of oranges) If Honduras is open to international trade in oranges without any restrictions, it will import A tariff set at this level would raise $ Suppose the Honduran government wants to reduce imports to exactly 160 tons of oranges to help domestic producers. A tariff of $ will achieve this. tons of oranges. in revenue for the Honduran government. per ton
Question 3 A tariff on imports benefits domestic producers of the imported good because O It hurts foreign consumers. O It raises the price for which they can sell their product on the domestic market. They get the tariff revenue. O It prevents imports from risng above a specified quantity.
PRICE (Dollars per ton) 980 Domestic Demand 930 880 830 780 730 680 630 580 530 480 0 50 Domestic Supply Pw 100 150 200 250 300 350 400 450 500 QUANTITY (Tons of oranges) If Zambia is open to international trade in oranges without any restrictions, it will import A tariff set at this level would raise $ ? Suppose the Zambian government wants to reduce imports to exactly 200 tons of oranges to help domestic producers. A tariff of $ will achieve this. tons of oranges. in revenue for the Zambian government. per ton
Is it legitimate to impose higher safety standards on imported goods that exist in the foreign country where the goods were produced?
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