Japan imposes a $2,800+/ton tariff on rice imports above 682,000 tons. Because the tariff makes imported rice too expensive, no country exports more than 682,000 tons of rice to Japan per year. Which trade barrier does this represent? A.Import licenses B. Dumping C.Quotas D. Subsidies

Japan imposes a $2,800+/ton tariff on rice imports above 682,000 tons. Because the tariff makes imported rice too expensive, no country exports more than 682,000 tons of rice to Japan per year. Which trade barrier does this represent? A.Import licenses B. Dumping C.Quotas D. Subsidies

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: What administrative trade policies are in place in Australia that make it difficult for imports to…

A: Here is an overview of some administrative trade rules that were in Australia:-

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: 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: Define Tariff, export subsidies, quota and dumping.

A: Tariff: The tax imposed on export and import of the country is known as tariff. Export subsidies:…

Q: How does a tariff on the import good affect a small country’s volume of trade, terms of trade and…

A: In the import market, an import tax reduces consumer excess while increasing producer surplus. A…

Q: An outright ban on the export of a commodity to a particular country is known as: A. Trade Deficit…

A: Non-tariff barriers to trade are trade barriers that restrict import or export of goods or services…

Q: Explain how imposing tariffs on imports ultimately harm US consumers. Elaborate on how producer and…

A: Tariff refers to the restrictive import behavior where the domestic government imposes the tax on…

Q: Why would an importing country use a tariff rather than a quota?

A: Tariff is a tax that is imposed on the goods that are produced outside the country and sold…

Q: Consider a small open economy country that produces cars. The world price of cars is less than the…

A: In an economy, if the world price is less than the autarky price, consumers have an incentive to…

Q: Depict on graph and briefly explain economic consequences of export tariff: for domestic exporters;…

A: A tariff on goods exported from a country is known as an export tariff. Tariffs are used by…

Q: Suppose before tariff, the price of imported avocado from Mexico to United States is $1.15 and 792…

A: Answer; Tariff collected is 172.59

Q: PRICE (Dollars per ton) 980 Domestic Demand 930 880 830 780 730 680 630 580 530 480 + 1 Domestic…

A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…

Q: Solve this economicExplain how tariff revenue can be considered an element of the importing…

A: Answer - Tariff :- It is tax which impose by a domestic country on the imported goods. The tarriff…

Q: Price P3 P2 P₁ A C Q₂ After the imposition of the tar exports Q1 to Q4 Oexports Q2 to Q3 imports Q1…

A: The world price is less than the domestic price. Thus there will be a import of good from rest of…

Q: Explain why costs to consumers of a tariff or quota are greater than the net welfare costs to…

A: Hey, Thank you for the question. According to our policy, we can only answer 1 question per session.…

Q: Assume this represents the supply and demand of Vodka Goose in USA before the country opens up…

A: The buyers and sellers exchange goods across the international borders is known as international…

Q: QUESTION 3 Figure 9-15 Price per Saddle P₂ P₁ G a. с 1 I Q₁ Q₂ B E Q3 Q4 Domestic Supply Tariff…

A: Tarrif is a financial instrument which is imposed by government in terms of tax or duty to regulate…

Q: Homework: International Trade and Comparative Advantage 440 Supply 340 315 K 290 265 Demand PRICE…

A: We have been given the market for wheat in New Zealand. The world price is lower than the New…

Q: Evaluate the effects of an import tariff by the government of a small country. Explain in detail the…

A: An import tariff will boost the domestic price while leaving the foreign price unchanged in the case…

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: Explain how the cost of a country’s tariffs is calculated as a percentage of gross domestic product…

A: Tariff refers to the tax that is imposed by the government of a nation on the imported goods and…

Q: With the help of graphs, a. Show the welfare effects of an import tariff b. Show the welfare effects…

A: A government-imposed restriction on the movement of commodities or services across borders is known…

Q: jeans from China at $20 each. With the 100% tarif the domestic price in Australia is $40. The cost…

A: The net gain or loss of a company includes income received from the sale of goods subtracted by how…

Q: The United States is the fifth largest sugar consumer and the fifth largest sugar producer in the…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: What are the pros and cons of tariff

A: The tariff is an important monetary barrier used to control the international trade. Tariff is the…

Q: Discuss with relevant examples 2 reasons of how tariffs protect domesticsm producers.

A: In an open economy, tariffs refer to the taxes imposed on imported goods by the government to…

Q: Which of the following policies permits a specific quantity of goods to be imported at one tariff…

A: A country will import the good if there is a shortage of that good, it implies as quantity demanded…

Q: what is tariff and how does it effect the economy

A: Tariff is a type of trade barrier that has several forms. Tariff benefits few domestic sectors if…

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

A: In an economy, export subsidy refers to the government support to the producers to supply more…

Q: Explain the difference between tariffs and quotas from the perspective of a business exporting to…

A: When talking about tariffs and quotas from the perspective of a firm exporting goods and services to…

Q: Price of Carnations $14- 12 10- 00 6 2 Ta Domestic Supply World Price Domestic Demend 100 200 300…

A: This idea refers to the transfer of funds, goods, and services between two or more independent…

Q: Calculate the loss in mexico consumer surplus due to the tariff. A) $225 B) $265 C) $285 D) $325

A: Consumer surplus represents the difference between what consumers are willing to pay for a good or…

Q: Consider a small open economy country that produces cars. The world price of cars less than the…

A: Tariffs are imposed on the cheaper imports from the rest of world. The tariffs raise the price level…

Q: If higher tariffs, such as those enacted by the Smoot-Hawley trade bill, reduce the imports of the…

A: Higher tariffs, often used as a protective measure to shield domestic industries from foreign…

Q: 3. Import quotas Kazakhstan is a grape producer, as well as an importer of grapes. Suppose the…

A: Deadweight loss signifies the welfare loss experienced by the economy due to the inefficient…

Q: In the figure to the right, the importing country imposes a tariff that raises the domestic price…

A: Tariffs(t) raise the cost(C) of imported goods. This leads to higher prices(P) for consumers.Higher…

Q: Quantify the effects of a country’s tariff on sugar Situation with import tariff…

A: The objective of this question is to understand the impact of removing a tariff on sugar in a…

Q: Under free trade, the quantity of smartphones produced by local producers in Country A is 15950 per…

A: An import quota is a limit on the amount of imports that can be brought into a particular country

Q: Under free trade, the quantity of smartphones produced by local producers in Country A is 20040 per…

A: An import quota is the maximum amount of imports in a country.

Q: The following graph shows the domestic supply of and demand for soybeans in Guatemala. The world…

A: In an open economy, consumers and producers have an incentive to gain more from making economic…

Q: Write a brief explanation of each of the following terms:< a. specific tariff b. intra-industry…

A: A tariff refers to the imposition of the tax by one nation on the goods and services offered over…

Question

A.Import licenses

B. Dumping

C.Quotas

D. Subsidies

AI-Generated Solution

AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.

Unlock instant AI solutions

Tap the button
to generate a solution

Click the button to generate
a solution

SEE SOLUTION

Similar questions

What would happen to U.S. economic welfare if the U.S. eliminated tariffs on solar panel imports? A. U.S. economic welfare would increase because of the social gains from increased U.S. consumption of solar panels B. U.S. economic welfare would decrease because the social gains from increased U.S. production of solar panels would be less than the social costs associated with increased U.S. consumption of solar panels C. U.S. economic welfare would decrease because the social gains from increased U.S. consumption of solar panels would be less than the social costs inflicted on U.S. solar panel producers D. U.S. economic welfare would increase because the social gains from increased U.S. production of solar panels would exceed the social costs associated with increased U.S. consumption of solar panels
Using a domestic-market demand- and supply-curve graph, a. show the impact of tariff on a small country's import price, domestic demand, domestic supply, import quantity, consumer surplus, producer surplus, government revenue, and total welfare; b. Is the country unambiguously worse off as a result of the tariff? c. In the same graph, show how to achieve the same import quantity with an import quota; d. When would the tariff and the import quota lead to the same amount of welfare change? e. How would the answers to (a) and (b) change for a large country?
1) If the country of Pika Pika taxes all pili nuts imported from The Philippines, Pika Pika has impased a(n)_. A. quota B. tariff C. embargo D. foreign content requirement E. subsidy
Price per Saddle Domeslic Supply A P2 Tariff World Price C P1 Domestic Demand Q1 Q2 Quantity of Saddles Q3 Q4 With the tariff in place, the new quantity of imports equals Q4 - Q1 Q2 Q3 O Q3- Q2
An import Tariff does: Increase domestic consumption Decrease domestic production Decrease domestic prices Increase government revenue
Which of the following trade policies limits specific quantity of goods to be imported at one tariff rate? a. Specific tariff b. Import tariff c. Quota d. All of the above
If a nation that imports a good imposes a tariff, it willincreasea. the domestic quantity demanded.b. the domestic quantity supplied.c. the quantity imported from abroad.d. all of the above.
Quota O people who favor trade barriers that protect domestic industries O tax placed on imports to increase their price in the domestic market O limit placed on the quantities of a product that can be imported O people who favor few or no trade restrictions
How does the imposition of an import tariff by a country affect its domestic market for the imported goods? A. It increases the domestic supply, leading. to lower prices. B. It decreases the domestic supply, leading to higher prices. C. It increases the domestic demand, leading to higher prices. D. It decreases the domestic demand, leading to lower prices.
The figure below shows the US domestic supply and demand for CD-ROM drives. The world price is $15 (per million CD-ROM drives). Price ($) 25 15 0 $25 b. $15 $10 3 a. U.S. market C. d. $0 6 9 SU.S. 12 Millions of CD-ROM drives Suppose the US implements a tariff on imports of CD-ROM drives. After the tariff is implemented, the US imports 3 million CD- ROM drives. What is the amount of the tariff? DU.S. Hint: What does it mean/ look like on the graph for the US to import 3 million units? Q
1. What do the welfare effects of an import quota differ from those of import tariff?
Please explain/show steps as to how you arrived at your answer. Thank you.