Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
thumb_up100%
Chapter 34, Problem 48CTQ
Why might a tax on domestic consumption of resources critical for national security be a more efficient approach than barriers to imports?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Why might a tax on domestic consumption of resources critical for national security be a more efficient approach than barriers to imports?
Summarize the arguments in support of restricting imports.
List and briefly describe the principal restrictions that may be applied to a nation’s imports.
Chapter 34 Solutions
Principles of Economics 2e
Ch. 34 - Explain how a tariff reduction causes an Increase...Ch. 34 - Explain how a subsidy on agricultural goods like...Ch. 34 - Explain how trade barriers save jobs in protected...Ch. 34 - Explain how trade barriers raise wages in...Ch. 34 - How does international trade affect working...Ch. 34 - Do the jobs for workers in low-income countries...Ch. 34 - How do trade barriers affect the average Income...Ch. 34 - How does the cost of saving jobs in protected...Ch. 34 - Explain how predatory pricing could be a...Ch. 34 - Why do low-income countries like Brazil, Egypt, or...
Ch. 34 - Explain the logic behind the race to the bottom...Ch. 34 - What are the conditions under which a country may...Ch. 34 - Why is the national security argument not...Ch. 34 - Assume a perfectly competitive market and the...Ch. 34 - What is the difference between a free trade...Ch. 34 - Why would countries promote protectionist laws,...Ch. 34 - What might account for the dramatic increase in...Ch. 34 - How does competition, whether domestic or foreign,...Ch. 34 - What are the gains from competition?Ch. 34 - Who does protectionism protect? From what does it...Ch. 34 - Name and define three policy tools for enacting...Ch. 34 - How does protectionism affect the price of the...Ch. 34 - Does international trade, taken as a whole,...Ch. 34 - Is international trade likely to have roughly the...Ch. 34 - How is international trade, taken as a whole,...Ch. 34 - Is international trade likely to have about the...Ch. 34 - What are main reasons for protecting infant...Ch. 34 - What is dumping? Why does prohibiting it often...Ch. 34 - What is the race to the bottom scenario?Ch. 34 - Do the rules of international trade require that...Ch. 34 - What is the national interest argument for...Ch. 34 - Name several of the international treaties where...Ch. 34 - What is the general trend of trade barriers over...Ch. 34 - If opening up to free trade would benefit a...Ch. 34 - Who gains and who loses from trade?Ch. 34 - Why is trade a good thing if some people lose?Ch. 34 - What are some ways that governments can help...Ch. 34 - Show graphically that for any tariff, there is an...Ch. 34 - From the Work It Out Effects of Trade Barriers,...Ch. 34 - If trade barriers hurt the average worker in an...Ch. 34 - Why do you think labor standards and working...Ch. 34 - How would direct subsidies to key industries be...Ch. 34 - How can governments identify good candidates for...Ch. 34 - Microeconomic theory argues that it is...Ch. 34 - How do you think Americans would feel if other...Ch. 34 - Is it legitimate to impose higher safety standards...Ch. 34 - Why might the unsafe consumer products argument be...Ch. 34 - Why might a tax on domestic consumption of...Ch. 34 - Why do you think that the GAIT rounds and, more...Ch. 34 - An economic union requires giving up some...Ch. 34 - What are some examples of innovative products that...Ch. 34 - In principle, the benefits of international trade...Ch. 34 - Economists sometimes say that protectionism is the...Ch. 34 - Trade has income distribution effects. For...Ch. 34 - Assume two countries, Thailand (T) and Japan (J),...Ch. 34 - You have just been put in charge of trade policy...Ch. 34 - The country of Pepperland exports steel to the...
Additional Business Textbook Solutions
Find more solutions based on key concepts
What does a mission statement explain about a firm that a vision statement does not?
Principles of Management
When calculating a ratio with numbers from the balance sheet and income statement, why must you use the balance...
Construction Accounting And Financial Management (4th Edition)
What are the four elements of the budgeting cycle?
Horngren's Cost Accounting: A Managerial Emphasis (16th Edition)
Source documents ________. A. are input devices B. are output devices C. do not have to be on paper D. cannot b...
Principles of Accounting Volume 1
Prepare a production cost report and journal entries (Learning Objectives 4 5) Vintage Accessories manufacture...
Managerial Accounting (5th Edition)
S4–14 Calculating the current ratio
Learning Objective 6
End of Line Montana Registration has these account b...
Horngren's Accounting (12th Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- What measures do governments take to promote exports and restrict imports? Who benefifits and who loses from protectionist policies? What is the net outcome for society?arrow_forwardWhat measures do governments take to promote exports and restrict imports? Who benefits and who loses from protectionist policies? What is the net outcome for society?arrow_forwardWhat does it mean by imports that threaten national security when pertaining to regulating import competition and unfair trade in international law?arrow_forward
- What is dumping? Why is this done?arrow_forwardWhat are some of the “controllable aspects” of a new market that the exporter may have control over? What are some of the standards and requirements a Canadian importer must consider to ensure goods are suitable for the domestic market? What three governments will have an interest in an international transaction?arrow_forwardExplain why the arguments for tariffs may be valid in the cases of dumping and infant industries.arrow_forward
- Would consumers benefit more from a tariff or a quota on importsarrow_forwardArgue the case for and against the imposition of a general tariff on all imports.arrow_forwardSuppose the government of the U.S. wants to protect the domestic sugar industry by restricting sugar imports. Suppose the U.S. produces sugar domestically according to the supply curve QS = P, and suppose the domestic demand for sugar is QD = 8 – P. The world price of sugar is $2. For price of sugar, the units are $/lb., and for quantity of sugar, the units are 1,000,000 Ibs./year.arrow_forward
- Please help.arrow_forwardThe following table shows the product market in a small country. Quantity Demanded Domestically 0 30 90 120 150 180 Multiple Choice $400 If the world price of the product is $80 and a tariff of $10 per unit is applied to imports of the product, then the tariff would generate government revenues of $800. $700 Price $120 110 100 90 80 70 $10 Quantity Supplied Domestically 110 100 90 80 70 60arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc