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1- list some examples of tariff barriers associated with international trade?
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- 4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for soybeans in Zambia. The world price (Pw) of soybeans is $530 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 980 Domestic Demand Domestic Supply 930 880 830 780 730 680 630 580 P. 530 480 50 100 150 200 250 300 350 400 450 500 QUANTITY (Tons of soybeans) PRICE (Dollars per ton)The accompanying table provides data regarding domestic demand and domestic supply of apples in the United States. Price Quantity supplied domestically Quantity demanded domestically (per apple) (millions of pounds per year) (millions of pounds per year) 0.15 6,290 9,730 0.25 7,150 8,870 0.35 8,010 8,010 0.45 8,870 7,150 0.55 9,730 6,290 a. Based on the information provided in the table, move the points to plot the domestic demand and domestic supply curves in the graph. Market for apples 80 75 Consumer surplu... Domestic demar 70 65 Producer surplu... Domestic suppl 60 55 50Analyze and explain when a firm should consider expanding from strictly domestic trade to international trade. What should it consider when becoming further involved in international trade?
- 6. The arguments for restricting trade Suppose there is a policy proposal to increase trade restrictions on imported microprocessors to the United States. Read the following scenario and answer the question that follows. The president of the United States argues that the United States should threaten to impose a tariff on Chinese microprocessors in order to induce the Chinese to remove its tariff on American cars. Which of the following justifications is the president using to support their argument in favor of the trade restriction on microprocessors? Unfair-competition argument Infant-industry argument Jobs argument Using-protection-as-a-bargaining-chip argument National-security argument4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for maize in Guatemala. The world price (PW) of maize is $250 per tonne and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for maize in Panama. The world price (Pw) of maize is $260 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. (? 500 Domestic Demand Domestic Supply 470 440 410 380 350 320 290 P 260 230 200 20 40 60 80 100 120 140 180 180 200 QUANTITY (Tons of maize) If Panama is open to international trade in maize without any restrictions, it will import tons of maize. Suppose the Panamanian government wants to reduce imports to exactly 40 tons of maize to help domestic producers. A tariff of $ per ton PRICE (Dollars per ton)
- Cars imported into the United States must have certain safety features to be allowed on highways and roads. Which of the following trade barriers does this situation describe? A. quota B. embargo C. standards D. tariff6. The arguments for restricting trade Suppose there is a policy debate regarding the United States' Imposing trade restrictions on Imported semiconductors. Read the following scenario and answer the question that follows. A senator from a state with several semiconductor factories argues that the United States should threaten to impose a tariff on Chinese semiconductors in order to induce the Chinese to remove its tariff on American cars. Which of the following justifications is the senator using to argue for the trade restriction on semiconductors? O Jobs argument O National-security argument O Unfair-competition argument O Using-protection-as-a-bargaining-chip argument O Infant-industry argumentConsider the market for coffee in the small, isolated country of Krakozhia. Within Krakozhia, the domestic demand for coffee is: Q = 500-2p and the domestic supply of coffee is: Q* = -150+ 3p
- Price of Carnations $14 $400 $100 $500 $200 12- 10- 8 6 4 2 Domestic Supply Tariff World Price Domestic Demand 100 200 300 400 500 600 Quantity of Carnations (in dozens) Refer to the figure above. What is the amount of deadweight loss caused by the tariff?3. Using the graph to the right, suppose the country opens up to international trade, the world price is $40, and the government institutes a $10 tariff on each unit imported. What is the quantity demanded, quantity produced domestically, quantity imported from abroad, consumer surplus, producer surplus, tariff revenue, and deadweight loss? Price 0 10 20 30 40 50 60 70 80 90 100 0 50 Comestic Supply Domestic Demand 100 150 200 250 300 350 400 450 Quantity 500The island country of Mauritius is small but has lowered its barriers for international trading partners. Is Location in the Indian ocean is close to Madagascar in the African continent. Mauritius trade between countries close by, and larger countries such as India. How does Mauritius benefit from lowering its trading barriers?