US places a tax on imported frozen chicken Japanese trade restriction says that only 3 million American cars can be sold in Japan per year Canada's government pays aid to dairy farmers that produce milk American business are not allowed to trade with Cuba : embargo : quota : tariff :: subsidy I II

Q: Would tariffs on imported wine be a price floor?

A: Imports are restricted via tariffs. Simply expressed, they raise the price of imported products and…

Q: Please give a critical explanation that Adam Smith and David Ricardo  founded the theory of…

A: Detailed explanation:Adam Smith (1723-1790):Advocated for free trade and specialization in his book…

Q: Use the table to answer the question.    Apples Bananas Country A 500 1,500 Country B 800 1,600 If…

A: Opportunity cost is the cost of producing one good in terms of other.  The opportunity cost shows…

Q: 3. Gains from trade Suppose there exist two imaginary countries, Everglades and Yosemite. Their…

A: "Opportunity cost is the next best alternative". Opportunity cost shows the forgone units of one…

Q: Name and describe at least one international organization or trade agreement which has sought to…

A: International trade is described as the exchange of commodities, services, and capital across…

Q: Identify four major crude oil traders in the world and the percentage of the market share.

A: Oil corporations deliver billions of barrels of oil products daily to fuel transportation and…

Q: An example of a predatory trade practice is: tariffs, duties and quotas subsidies trade and…

A: Predatory trade practices are strategies used by countries to distort the market in favor of their…

Q: Please use the theory of comparative advantage to explain how international trade between two…

A: The comparative advantage refers to the advantage of production of goods and and service at a lower…

Q: used (or are often used

A: Numerous economists support free trade. Be that as it may, in certain conditions, there are…

Q: Trade makes both consumers and producers better off. Explain this in detail with all appropriate…

A: Trade refers to the exchange of goods, services, or assets between individuals, businesses, or…

Q: Give an example of how free trade does not always produce “winners.”

A: Free trade refers to when there are no tariffs, quotas, or other restrictions when items and…

Q: A small island nation of Gondwana can produce either 40 Apple iPhones (Apple for short) or 80…

A: When a country is able to produce a certain good or to provide a service at a lower opportunity cost…

Q: Historical evidence suggests that, when technology matures and industrial production moves to…

A: When technology matures and industrial production moves to counties with lower costs, Products which…

Q: Discuss the pros and cons of free trade.

A: Although free trade and the effects of tariffs on the global economy are hotly debated topics, they…