O c. The price that consumers pay decreases When a large country imposes a tariff on imports: Select one: O a. All of the above b. There is no dead-weight loss
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A: Answer -
Q: An export subsidy always makes a country worse off on net. True False
A: An export subsidy always makes a country worse off on net - TRUE.
![When a large country imposes a tariff on imports:
Select one:
O a. All of the above
O b. There is no dead-weight loss
Oc.
The price that consumers pay decreases
d.
The tariff's overall (net) effect for the large country's welfare might be positive](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4b065fbc-2c2f-4ee5-bf7e-9558a1635a72%2F83efbfbc-b069-40b8-b113-3707a8689f42%2Flkz913_processed.jpeg&w=3840&q=75)
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- The graphs below show domestic supply and demand curves for a good in two countries, with prices measured in the same currency. If these are the only two countries in the world and if they open to free international trade, O. Demanders of the good in Country A will benefit from trade. O. Suppliers of the good in Country A will benefit from trade. O. The welfare of Country A as a whole will fall. O. The quantity of the good demanded in Country B will become larger. O. The price of the good in both countries will be the one labeled PB.Price per Saddle Domeslic Supply A B. P2 World Price Tariff P1 G Domestic Demand Q1 Q2 Q3 Q4 Quantity of Saddles Before the tariff is implemented, what is the size of consumer surplus? O A OA + B OA+B+ C + D + E + F OG+CThe graph below shows the domestic supply and demand and the world price for an exporting country. Price of $100 shoes in 90 U.S. dollars C B D + B 80 D D Pworld 60 50 40 30 20 10 B A K O 1 Exporting country supply and demand graph 2 3 Schoos Exports = 2.5 million Identify the area on the graph that represents the consumer surplus for domestic consumers if the country exports its product. Dshoes 4 5 Millions of pairs of shoos
- The textile industry in your country persuades the legislature to put a tariff on imported textiles. Who does not gain from this law? Select one: O a. Domestic textile producers. O b. Your government. O c. Workers in the domestic textile industry. O d. Domestic consumers. Check Next page s page Unit 6 Jump to... HW Unit 6 DUE March 17 ► logged in as Ashli-Amari Bent (Log out) 00/1-2021/SPRING/DAY MacBook Pro Search or type URL $ & 4 6 7 8.5. Both foreign (Sf) and domestic steel (Sd) producers supply the US market (Sdtf is the combined supply curve). US Steel Market without Tariff US Steel Market with Tariff 10 O 10 20 30 40 s0 60 70 80 90 100 Quanity in millions of tons per year D 10 20 30 40 50 60 70 80 90 100 Quantity in millions of tons per Year 0 d st Sdet D -Sd St -Sdef a. After the imposition of the tariff, what is the approximate price of steel? Answer: b. How much of the $200 per ton tariff is paid by domestic consumers of steel? Answer: C. How is the quantity of steel consumed in the US affected? Answer: d. Who benefits and who is harmed by the tariff? Answer. asn soot u uo ad aous Price per Ton in 100s US0Economists argue for free trade in import markets because importing goods decreases total surplus. no one is made worse off by importing goods. all consumers and producers benefit from importing goods. O the gains to the U.S. producers outweigh the losses to the U.S. consumers the gains to the U.S. consumers outweigh the losses to the U.S. producers
- Price $36 $30 $26 I I Home market S D 20 40 80 100 Quantity Price 40 World market I 80 X* + t ·X* Imports The graphs show the case for a tariff imposed by a large country. According to these graphs, if the world price of the product is given as $30 and a $10 tariff is imposed, then the new price after the tariff is $36. So the terms-of-trade gain is 40 80 10 160Consider the market below for a large country. Focus on the equilibrium when the country imposes a tariff. How large is the tariff? Price $25 $20 $15 10 20 30 40 Quantity Select one: O a. $20 O b. $25 O c. $10 O d. $152 Using the graph, assume that the government imposes a $1 tariff on solar panels. Answer the following questions given this information. Price $13 65 8 Domestic Supply $1.00 Tariff World Price Domestic Demand о 30 40 60 84 96 Quantity a. What is the domestic price and quantity demanded of solar panels after the tariff is imposed? b. What is the quantity of solar panels imported before the tariff? c. What is the quantity of solar panels imported after the tariff? d. What would be the amount of consumer surplus before the tariff? e. What would be the amount of consumer surplus after the tariff? f. What would be the amount of producer surplus before the tariff? g. What would be the amount of producer surplus after the tariff? h. What would be the amount of government revenue because of the tariff? i. What would be the total amount of deadweight loss due to the tariff?
- This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good. 215 175 130 100 M A B D H 250 $19,500. O $27,000. $37,500. C O $34,500. 500 F G J 815 K S World Price + tariff World Price 1150 1500 According to the graph shown, if the economy decides to impose a tariff, the government can expect to raise how much in government revenues? D QThe following graph shows the supply and demand curves of gloves for Portugal. Germany and France supply gloves to Portugal at a price of $2 and $3, respectively. The green line indicates a 100% nondiscriminatory tariff on Portugal's glove imports. PRICE (Dollars per pair of gloves) 10 9 O 8 2 1 0 ☐ 0 □ 2 ☐ 4 O ☐ O ☐ O 6 ☐ O ☐ O 8 10 12 14 QUANTITY (Pairs of gloves) Suppose Portugal forms a customs union with France. □ C 16 The customs union results in the trade creation effect of $ 0 Stariff SE F SG O 18 20 (?) and the trade diversion effect of $ If, instead, Portugal forms a customs union with Germany, the result will be a by an amount equal to a effect of $ The overall welfare of Portugal customs union. The welfare of Portugal willIn the figure to the right, the importing country imposes a tariff that raises the domestic price from $8 to $12 but lowers the foreign export price from $8 to $4. The net welfare gain from this tariff for the importing country is OA. $18. OB. $4. OC. $34. O D. $16. 24- 22- 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 0- C Price, P 1 2 3 5 6 S d 8 D 9 10 11 12 Quantity, Q
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