58 A tariff isO any non-tax action used to restrict trade.a tax imposed on incomes of consumers ofimported goodsnone of the abovea subsidy granted to imports.any non-subsidy used to increase trade.

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

A tariff is O any non-tax action used to restrict trade. O a tax imposed on incomes of consumers of imported goods O none of the above O a subsidy granted to imports. O any non-subsidy used to increase trade.

A tariff is O any non-tax action used to restrict trade. O a tax imposed on incomes of consumers of imported goods O none of the above O a subsidy granted to imports. O any non-subsidy used to increase trade.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 6PA

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Question

A tariff is
O any non-tax action used to restrict trade.
a tax imposed on incomes of consumers of
imported goods
none of the above
a subsidy granted to imports.
any non-subsidy used to increase trade.

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price supply domestic price- $35 import price + tarif $20 demand 100 300 500 650 850 quantity Based on the graph above, if there is a tariff of $15 per unit imposed on imports in this market: A. 750 units will be imported and tariff revenue to the government will be $11.250 B. 650 units will be imported and tariff revenue to the government will be $9,75O C. 350 units will be imported and tariff revenue to the government will be $5.250 D. 300 units will be imported and tariff revenue to the government will be $4,500
government prefers to reduce imports with a tariff instead of a quota depends on whetherA. imports are completely eliminatedB. consumer demand is elastic.c. the demand curve is downward slopingD. barriers prevent new firms from enteringE. production costs are.constant
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The figure below illustrates the impact of an export subsidy as imposed by a large country. No imports are permitted. Price Domestic price with subsidy World price World price with subsidy Di So Quantity The consumption effect of the export subsidy is shown by area(s) d. Ob. O (d +i+ j). O (b +f+ g).
Answer all part please I will give good review
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part a The effect of a tariff on the quantity demanded of an imported commodity: a will be higher the greater the elasticity of its demand. b will be lower the greater the elasticity of its demand. c does not depend on its elasticity of demand. d will only depend on its elasticity of supply. part b: In a market supplied by both domestic and foreign producers the government establishes a quota on imports at a level below current imports. The quantity sold by domestic producers will ______________ and the equilibrium quantity in the market overall will ______________. a not change; not change b increase; decrease c decrease; decrease d decrease; not change Part C: The picture attached
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