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- From the Work It Out Effects of Trade Barriers, you can see that a tariff raises the price of imports. What is interesting is that the price rises by less than the amount of the tariff. Who pays the rest of the tariff amount? Can you show this graphically?Trade has income distribution effects. For example, suppose that because of a government-negotiated reduction in trade barriers, trade between Germany and the Czech Republic increases. Germany sells house paint to the Czech Republic. The Czech Republic sells alarm clocks to Germany. Would you expect this pattern of trade to increase or decrease jobs and wages in the paint industry in Germany? The alarm clock industry in Germany? The paint industry in Czech Republic? The alarm clock industry in Czech Republic? What has to happen for there to be no increase in total unemployment in both countries?Explain how a tariff reduction causes an Increase in the equilibrium quantity of imports and a decrease in the equilibrium price. Hint: Consider the Work It Out Effects of Trade Barriers.
- Why might Belgium, France, Italy, and Sweden have a higher export to GDP ratio than the United States?With a 5 peso import tariff (compared to free trade) domestic producers in The Philippines gain an amount equivalent to area ACHD IAB DABE JHD P J Domestic Demand A B. 30 pesos Domestic Supply D F G H 25 pesos E 400 800 2100 2900 This graph illustrates the demand and supply curves for cell phones in The Philippines. With free trade, the retail price in the domestic market is 25 Philippine pesos. In this market, an import tariff would cause prices to go up by the full amount of the tariff. With a 5 peso import tariff (compared to free trade) domestic producers in The Philippines gain an amount equivalent to areaClipboard Image lools Shapes 100 200 300 400 500 600 700 800 900 1000 1100 The following diagram is for Country A based on the Ricardo madel. Wheat (millions) 30 Terms of Trade E 15 PPF Corn 25 30 50 (millions) Refer to the figure above. Imports of this country equal O 25 million corns O 50 million corns O 15 million wheat O eat 30 million wh +1503, 451px 1 1024 x 744px 1L 1688 × 1240px P Type here to search 1009
- Figure: Home Production and Consumption Clothing O clothing 60 chemicals 20 40 60 Chemicals __(Figure: Home Production and Consumption) The figure gives Home's international trading pattern. Point P is production with trade, and point C is consumption with trade. Which product does Home import? C O It imports both chemicals and clothing. O It imports neither chemicals nor clothing.1. Both countries agree that one tonne of steel can be exchanged for one tonne of oil. Calculate the gains after trade is allowed if Country A consumes 30 tonnes of oil domestically.19. Mention two possible situations when dealing with exports and imports.
- With reference to Table 2 below, indicate in what commodity the U.S. and the Philippines have a comparative advantage? Table 2 COMMODITY U.S. Philippines Wheat (bushels/man-hour) 7 1 Rice (sacks/man-hour) 4 3PRICE (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 tonWhen the nation of Ectenia opens itself to world tradein coffee beans. the domestic price of coffee beansfalls. Which of the following describes the situation'•· Domestic prOduction of coffee rises, and Ectenoabecomes a coffee imoorter.b. Domestic prOduction of coffee rises, and Ecten iabecomes a coffee exporter.c. Domestic prOduction of coffee falls. and Ecteniabecomes a coffee importer.rl Domestic PrOduction of coffee falls. and Ecteniabecomes a coffee exporter.