If an import quota is imposed on imports of shrimp into the United States, U.S. consumers ________ and the U.S. economy will ________.lose; losegain; loselose; gaingain; gaingain; be unaffected When a tariff supporter argues that foreign producers are selling their products for prices below the costs of production, which of the following is being used?save domestic jobs argumentnational security argumentdumping argumentdiversity and stability argumentinfant-industry argument A flawed argument for protection from foreign trade is thati.tariffs save domestic jobs.ii.tariffs protect the national culture.iii.quotas bring about diversity and stability.i onlyii onlyi, ii, and iiiiii onlyi and ii Suppose IBM purchases a factory in Japan. This purchase is entered into which of the balance of payments accounts?current accountofficial settlements accountcapital and financial accounttrade accountpurchases account The government's holdings of foreign currency is recorded in theofficial settlements account.capital and financial account.money account.current account.currency account. The sum of the current account plus the capital and financial account plus the official settlements account equalsgovernment expenditures.zero.100 percent.U.S. exports.U.S. official reserves.

We have to solve given question.

Answered: an import quota is imposed on imports…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 2PA

See similar textbooks

Related questions

Question

If an import quota is imposed on imports of shrimp into the United States, U.S. consumers ________ and the U.S. economy will ________.

lose; lose

gain; lose

lose; gain

gain; gain

gain; be unaffected

When a tariff supporter argues that foreign producers are selling their products for prices below the costs of production, which of the following is being used?

save domestic jobs argument

national security argument

dumping argument

diversity and stability argument

infant-industry argument

A flawed argument for protection from foreign trade is that

i.	tariffs save domestic jobs.

ii.	tariffs protect the national culture.

iii.	quotas bring about diversity and stability.

i only

ii only

i, ii, and iii

iii only

i and ii

Suppose IBM purchases a factory in Japan. This purchase is entered into which of the balance of payments accounts?

current account

official settlements account

capital and financial account

trade account

purchases account

The government's holdings of foreign currency is recorded in the

official settlements account.

capital and financial account.

money account.

current account.

currency account.

The sum of the current account plus the capital and financial account plus the official settlements account equals

government expenditures.

zero.

100 percent.

U.S. exports.

U.S. official reserves.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

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