Indicate whether each outcome in the following table is or is not an objective of economic sanctions. Outcome Objective Not an Objective Antidumping protection Combat international terrorism Protection against unfair trade Compensation for property expropriated by foreign governments Which of the following would impact the effectiveness of economic sanctions? Check all that apply. The economic growth rate in the imposing country Cultural factors in the target nation The extent of political opposition in the target nation

Indicate whether each outcome in the following table is or is not an objective of economic sanctions. Outcome Objective Not an Objective Antidumping protection Combat international terrorism Protection against unfair trade Compensation for property expropriated by foreign governments Which of the following would impact the effectiveness of economic sanctions? Check all that apply. The economic growth rate in the imposing country Cultural factors in the target nation The extent of political opposition in the target nation

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter34: Globalization And Protectionism

Section: Chapter Questions

Problem 53CTQ: Economists sometimes say that protectionism is the second-best choice for dealing with any...

See similar textbooks

Similar questions

Which of the following BEST defines maquiladoras? A. Export-assembly plants B. Taxes imposed on products that will be dumped OC. Transfer payments made directly to foreign firms D. Tariffs imposed on products imported into a country O E. Areas within a country that receive imported goods for assembly Since the 1970s, Singapore, Hong Kong, Taiwan, and South Korea have accomplished rapid economic growith by following O A. centralized economic planning B. normal trade relations c. import authorization efforts D. an export-led development model E. the Japanese miracle
Explain what world trade means. What is the role ofthe Wto and economic communities in encouragingfree trade? What is the role of the World Bank and theInternational Monetary Fund in global trade? What isprotectionism? Explain import quotas, embargoes, andtariffs
The policies are other than tariffs which restrict the volume of international trade Such policies areknown as non-tariff barriers to trade and include such practices as import quotas, orderly marketingagreements, domestic content requirements, subsidies, antidumping regulations, discriminatorygovernment procurement practices, social regulations, and sea transport and freight restrictions. It isnoted that quotas and tariffs have many of the same economic effects; however, quotas tend to bemore restrictive. Special attention is given to the revenue effect of an import quota, which may becaptured by domestic importers, foreign exporters, or the domestic government. Differentiatebetween an import subsidy and an export subsidy
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?
You just overheard your friend say the following: Poor countries like Malawi have no absolute advantages. They have poor soil, low investments in formal education and hence low-skill workers, no capital, and no natural resources to speak of. Because they have no advantage, they cannot benefit from trade. How would you respond?
What factors does Paul Krugman identity that supported expanding international trade in the 1800s?
If trade barriers hurt the average worker in an economy (due to lower wages), why does government create trade barriers?
Economists sometimes say that protectionism is the second-best choice for dealing with any particular problem. What they mean is that there is often a policy choice that is more direct or effective for dealing with the problemâ€”a choice that would still allow the benefits of trade to occur. Explain why protectionism is a second-best choice for helping workers as a group helping industries stay strong protecting the environment advancing national defense
Describe how WTO assists the way in which trade negotiations have been conducted between countries?
One of the global institutions that emerged over the past 75 years is GATT which stands for the General Agreement on Tariffs and O trade O time O targets taxes
The goal of multilateral trade agreements is usually toa. equalize the level of tariffs across nations so nonation is disadvantaged relative to others.b. use targeted tariffs to ensure that nationsproduce those goods in which they have acomparative advantage.c. reduce tariffs in various nations simultaneously toblunt political pressure for protectionism.d. ensure that tariffs are used only to promote infantindustries that will eventually become viable.
QUESTIONS : D. Would you agree if the UK imposed import protection for wheat and corn to protect domestic wheat and corn farmers? Give reasons and basis for your argument. What are the negative and positive impacts that will be faced by the UK when implementing this protection policy (Give at least 5 answers for each positive & negative impact). POINT D ANSWER : Would defeinetly not go with the idea and not accept the trade proctectionsim, as it of more harm than good. Reasons are as follow: -The restricted options of customers and paying more for products and services. A main consequence of trade protectionism would be that, as there can be limits on how much can be imported, buyers may have a restricted variety of products and services. Shoppers would have a very limited option as to the amount, standard and form of product that might otherwise be available to them without competitive protection due to these quotas. -Exchange rate caps have induced long-term inflation because…