If an import quota is imposed on imports of shrimp into the United States, U.S. consumers ________ and the U.S. economy will ________.lose; losegain; loselose; gaingain; gaingain; be unaffected When a tariff supporter argues that foreign producers are selling their products for prices below the costs of production, which of the following is being used?save domestic jobs argumentnational security argumentdumping argumentdiversity and stability argumentinfant-industry argument A flawed argument for protection from foreign trade is thati.tariffs save domestic jobs.ii.tariffs protect the national culture.iii.quotas bring about diversity and stability.i onlyii onlyi, ii, and iiiiii onlyi and ii Suppose IBM purchases a factory in Japan. This purchase is entered into which of the balance of payments accounts?current accountofficial settlements accountcapital and financial accounttrade accountpurchases account The government's holdings of foreign currency is recorded in theofficial settlements account.capital and financial account.money account.current account.currency account. The sum of the current account plus the capital and financial account plus the official settlements account equalsgovernment expenditures.zero.100 percent.U.S. exports.U.S. official reserves.

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Answered: an import quota is imposed on imports…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If an import quota is imposed on imports of shrimp into the United States, U.S. consumers ________ and the U.S. economy will ________.

lose; lose

gain; lose

lose; gain

gain; gain

gain; be unaffected

When a tariff supporter argues that foreign producers are selling their products for prices below the costs of production, which of the following is being used?

save domestic jobs argument

national security argument

dumping argument

diversity and stability argument

infant-industry argument

A flawed argument for protection from foreign trade is that

i.	tariffs save domestic jobs.

ii.	tariffs protect the national culture.

iii.	quotas bring about diversity and stability.

i only

ii only

i, ii, and iii

iii only

i and ii

Suppose IBM purchases a factory in Japan. This purchase is entered into which of the balance of payments accounts?

current account

official settlements account

capital and financial account

trade account

purchases account

The government's holdings of foreign currency is recorded in the

official settlements account.

capital and financial account.

money account.

current account.

currency account.

The sum of the current account plus the capital and financial account plus the official settlements account equals

government expenditures.

zero.

100 percent.

U.S. exports.

U.S. official reserves.

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