Protective tariffs are: maximum limits on the quantity or total value of specific products imported to a nation. excise taxes or duties placed on imported products. licensing requirements, unreasonable quality standards, and the like designed to impede imports. government payments to domestic producers to reduce the world prices of exported goods.

Protective tariffs are: maximum limits on the quantity or total value of specific products imported to a nation. excise taxes or duties placed on imported products. licensing requirements, unreasonable quality standards, and the like designed to impede imports. government payments to domestic producers to reduce the world prices of exported goods.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter35: International Trade Restrictions

Section: Chapter Questions

Problem 3E

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Similar questions

A tariff lowers the price of the imported good below the world price. lowers the price of the exported good below the world price. raises the price of the imported good above the world price. keeps the price of the exported good the same as the world price.
Which of the following is not included in the objectives of tariffs? To promote indigenous research and development To protect domestic industries from foreign competition None of the above To guard against dumping
All of the following statements about import tariffs are true except Group of answer choices they result in countries selling the product at a lower price to domestic consumers they reduce the volume of trade and the gains from trade they limit specialization and the division of labor they yield revenue for the government that levies tariffs
Tariffs and quotas are costly to consumers because the price of the imported good falls the supply of the imported good increases import competition increases for domestic goods consumers shift purchases to higher-priced domestic goods
Export marketing is the integrated marketing of goods and services that are destined for customers in international markets. What does the marketing require?
A tariff is usually considered to be better than a quota because quotas hurt domestic producers; tariffs hurt foreign producers. tariffs produce tax revenue. tariffs help domestic producers more than quotas. quotas are inflexible. it does not distort trade as much.
Methods of export promotion
Exporting countries Which of the following will be true, everything else remaining constant, for a country that exports some good? a)The greater the price elasticity of supply for the good in the exporting country, the greater the volume of exports. b) The more that consumers in the exporting country respond to a change in price, the greater will be the gains from trade. b) The smaller the price elasticity of demand and supply in the exporting country, the greater the gains from trade. c) Some domestic suppliers will lose surplus while others will gain surplus. Choose the statements that match the question and briefly explain your reasoning to understand the question better. Thankyou.
Direct investment should only be used when there is a low chance of success and the market has weak potential the market is stable and flat there is a low chance of success and the market has strong potential there is a high chance of success and the market has strong potential there is a high chance of success and the market has weak potential
Which of the following is NOT a common reason why tariffs are used despite being inefficient?
In general, tariffs restrict: special interests' privileges. manufacturers' supply sources. inflationary pressures. government control in economic matters. the number of reciprocal tariffs.
In the United States, imposing a tariff on imported vitamin D3 would: Group of answer choices increase total American consumption of vitamin D3. increase American consumption of domestically produced vitamin D3. reduce exports of vitamin D3. decrease domestic production of vitamin D3.