If the world price of textiles is lower than Vietnam’s domestic price of textiles without trade, then Vietnam Group of answer choices should refrain altogether from producing textiles. has a comparative advantage in textiles. should produce just enough textiles to meet its domestic demand. should import textiles.

Q: Tariff O people who favor few or no trade restrictions O people who favor trade barriers that…

A: Tariffs are one of the tax forms that government imposes on goods and services.

Q: A country will import a good if the world price is lower than the domestic price without trade.…

A: A nation engages in international trade on the basis of its comparative advantage. A nation…

Q: For large countries an import tariff will deteriorate the terms of trade with other countries.…

A: A tariff refers to a tax that one nation levies on products and services imported from…

Q: tes. Unlike Motherland, the United States is a large industrial country Motherland imports…

A: The gravity model suggests that relative economic size tends to attract the countries in order to…

Q: Explain why a quota may result in lower total surplus in the home country than a tariff, even if…

A: A tariff is a percentage of the product's worth that the importer is required to pay. A quota is a…

Q: True/False  International trade leads to a increase in the competition in the market.

A: The trading of products and services across international borders is referred to as international…

Q: An important difference between tariffs and quotas is that tariffs Select one: a. help domestic…

A: In an economy, tariffs and quotas, both are the ways to reduce imports of the country.

Q: Direct investment should only be used when

A: Direct investment is a long-term investment that involves taking control of a business in another…

Q: When a country allows trade and becomes an importer of a good, which of the following is NOT a…

A: An importer is an individual or organization that brings goods or services into a country from one…

Q: For each of the following statements, indicate whether it is true or false for a country that opens…

A: The elasticity of demand refers to the degree of responsiveness in demand when there is a change in…

Q: Which of the following is NOT a possible positive outcome related to tariffs? A Improved national…

A: Tariff refers to the government protection to domestic producers from foreign competitors as it is…

Q: A country that implements a voluntary exports restraint must experience a decrease in welfare.…

A: When an open economy is implementing voluntary exports restraint, it is the situation when it…

Q: While import tariffs and import quotas can both be used to protect domestic producers, the import…

A: Import tariffs and import quota are two ways to restrict imports of the country.

Q: Tariffs and quotas are costly to consumers because   the price of the imported good falls the supply…

A: Hi, thank you for the question. As per the guidelines, we are allowed to attempt only first…

Q: It is appropriate for a country to impose trade restrictions on exports that might endanger its…

A: Trade restrictions refer to government policies that limit or regulate the flow of goods and…

Q: Trade policy that protects domestic industry, such as export subsidies, will always decrease welfare…

A: A subsidy is defined as a benefit given by the government to businesses or institutions to increase…

Q: An import Tariff does: Increase domestic consumption Decrease domestic production Decrease domestic…

A: The import tariff is the tax imposed by a government on imported goods or services. The primary…

Q: A tariff lowers the price of the imported good below the world price. lowers the price of the…

A: Tariff is a tax imposed on imported goods to earn revenue. Tariffs are imposed to protect the…

Q: trade specialize in production based on:     A)  relative inflation rates.   B)  relative…

A: *Answer:

Q: If a country's domestic price of lumber is below the world price of lumber, the country will likely:…

A: Outflow of goods and services from one country to rest of world, is known as the export.

Q: Trade between the United States and Honduras         is a losing proposal for the U.S. because…

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Q: Economists generally agree that trade restrictions are detrimental to trade and reduce government…

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Q: emand for intry is given by f a camera. Supply by domestic camera producers is S = 4000 + 10P.…

A: The equilibrium is set up where the demand and supply forces are equal. A country will export if…

Q: Assume that you have been hired by an International Organization to be consulted on various issues…

A: The exchange of goods and services between countries is known as international trade. Consumers and…

Q: All of the following statements about import tariffs are true except Group of answer choices…

A: Import tariffs means the taxes that are levied on the imported goods. The basic aim behind imposing…

Q: Which of the following is not included in the objectives of tariffs? To promote indigenous research…

A: A duty or tax that is being paid for a certain type of exports and imports is known as tariffs.

Q: The primary gain from trade is: more goods than would be attainable through domestic production…

A: The voluntary exchange of commodities or services between various economic entities is referred to…

Q: Export subsidy can be welfare improving trade policy for a domestic country if a) it cannot be…

A: Export subsidy is a government policy that encourages the export of commodities while discouraging…

Q: Which organization meets regularly to establish rules and settle disputes related to international…

A: "Since you have asked multiple question we will solve only the first question for you. If you want…