Trade barrier and theory of trade.

Question

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Answer 1

Question

Chapter 19, Problem 1FT

To determine

Trade barrier and theory of trade.

Expert Solution & Answer

Explanation of Solution

By removing the trade barriers, Japanese consumers would be better off, whereas the Japanese rice farmers would be worse off. The net gain would be positive according to the theory of trade; Japanese consumers would be better off than Japanese producers (who would be worse off). By the theory of politics, Japanese rice farmers would be lobbying against the reduction in trade barriers than consumers who would be favoring the reduction in barriers. The gains received per consumer are comparatively lower than the losses to producers. Thus, the producers will have a greater incentive to lobby against reductions in trade barriers.

Economics Concept Introduction

Concept introduction:

Trade barrier: Trade barriers refer to the government-induced restrictions imposed usually on international trade.

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Answer 2

Question

Chapter 19, Problem 1FT

To determine

Trade barrier and theory of trade.

Expert Solution & Answer

Explanation of Solution

By removing the trade barriers, Japanese consumers would be better off, whereas the Japanese rice farmers would be worse off. The net gain would be positive according to the theory of trade; Japanese consumers would be better off than Japanese producers (who would be worse off). By the theory of politics, Japanese rice farmers would be lobbying against the reduction in trade barriers than consumers who would be favoring the reduction in barriers. The gains received per consumer are comparatively lower than the losses to producers. Thus, the producers will have a greater incentive to lobby against reductions in trade barriers.

Economics Concept Introduction

Concept introduction:

Trade barrier: Trade barriers refer to the government-induced restrictions imposed usually on international trade.

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Answer 3

Question

Chapter 19, Problem 1FT

To determine

Trade barrier and theory of trade.

Expert Solution & Answer

Explanation of Solution

By removing the trade barriers, Japanese consumers would be better off, whereas the Japanese rice farmers would be worse off. The net gain would be positive according to the theory of trade; Japanese consumers would be better off than Japanese producers (who would be worse off). By the theory of politics, Japanese rice farmers would be lobbying against the reduction in trade barriers than consumers who would be favoring the reduction in barriers. The gains received per consumer are comparatively lower than the losses to producers. Thus, the producers will have a greater incentive to lobby against reductions in trade barriers.

Economics Concept Introduction

Concept introduction:

Trade barrier: Trade barriers refer to the government-induced restrictions imposed usually on international trade.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 19, Problem 1FT

To determine

Trade barrier and theory of trade.

Expert Solution & Answer

Explanation of Solution

By removing the trade barriers, Japanese consumers would be better off, whereas the Japanese rice farmers would be worse off. The net gain would be positive according to the theory of trade; Japanese consumers would be better off than Japanese producers (who would be worse off). By the theory of politics, Japanese rice farmers would be lobbying against the reduction in trade barriers than consumers who would be favoring the reduction in barriers. The gains received per consumer are comparatively lower than the losses to producers. Thus, the producers will have a greater incentive to lobby against reductions in trade barriers.

Economics Concept Introduction

Concept introduction:

Trade barrier: Trade barriers refer to the government-induced restrictions imposed usually on international trade.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 19, Problem 1FT

To determine

Trade barrier and theory of trade.

Expert Solution & Answer

Explanation of Solution

By removing the trade barriers, Japanese consumers would be better off, whereas the Japanese rice farmers would be worse off. The net gain would be positive according to the theory of trade; Japanese consumers would be better off than Japanese producers (who would be worse off). By the theory of politics, Japanese rice farmers would be lobbying against the reduction in trade barriers than consumers who would be favoring the reduction in barriers. The gains received per consumer are comparatively lower than the losses to producers. Thus, the producers will have a greater incentive to lobby against reductions in trade barriers.

Economics Concept Introduction

Concept introduction:

Trade barrier: Trade barriers refer to the government-induced restrictions imposed usually on international trade.

Answer 6

Chapter 19, Problem 1FT

To determine

Trade barrier and theory of trade.

Expert Solution & Answer

Explanation of Solution

By removing the trade barriers, Japanese consumers would be better off, whereas the Japanese rice farmers would be worse off. The net gain would be positive according to the theory of trade; Japanese consumers would be better off than Japanese producers (who would be worse off). By the theory of politics, Japanese rice farmers would be lobbying against the reduction in trade barriers than consumers who would be favoring the reduction in barriers. The gains received per consumer are comparatively lower than the losses to producers. Thus, the producers will have a greater incentive to lobby against reductions in trade barriers.

Economics Concept Introduction

Concept introduction:

Trade barrier: Trade barriers refer to the government-induced restrictions imposed usually on international trade.

Answer 7

Chapter 19, Problem 1FT

To determine

Trade barrier and theory of trade.

Answer 8

Expert Solution & Answer

Explanation of Solution

By removing the trade barriers, Japanese consumers would be better off, whereas the Japanese rice farmers would be worse off. The net gain would be positive according to the theory of trade; Japanese consumers would be better off than Japanese producers (who would be worse off). By the theory of politics, Japanese rice farmers would be lobbying against the reduction in trade barriers than consumers who would be favoring the reduction in barriers. The gains received per consumer are comparatively lower than the losses to producers. Thus, the producers will have a greater incentive to lobby against reductions in trade barriers.