Explain why a quota may result in lower total surplus in the home country than a tariff, even if they have the same effect on imports and the domestic price.

Q: Tariffs and quotas are costly to consumers because    the price of the imported good falls the…

A: A tariff is the tax that is levied on the imported product and import quota refers to the…

Q: Explain the possible welfare impact of restoring the import tariff for surgical masks. Should the…

A: Welfare impact: It refers to the impact of the government policy on the economy. It takes into…

Q: Having rejected a tariff on textiles (a tax on imports), the president of Isoland is now considering…

A: The charge that is being levied by the government on goods and services that serves as the main…

Q: A numerical limit imposed by a government on the quantity of a good that can be imported into the…

A: Government impose various methods to reduce Import of various goods which will affect the demand for…

Q: protective measure, a quota is more effective than a tariff. B. A tariff seeks to discourage

A: To find : Whether the statement is true or false.

Q: Statistical evidence shows that the enactment of a tariff by a large country would enhance domestic…

A: Tariff is the amount charged by the government of one country on the imports of goods and services.…

Q: Which of the following policies permits a specific quantity of goods to be imported at one tariff…

A: A country will import the good if there is a shortage of that good, it implies as quantity demanded…

Q: The WTO discourages the use of quotas because they are:

A: World trade organization is the international organization which deals with the rules and…

Q: Although both tariffs and quotas are tools used to restrict or reduce trade, which of the statements…

A: The tariff is a kind of international trade restrictions imposed by the government to protect the…

Q: A country that implements a voluntary exports restraint must experience a decrease in welfare.…

A: When an open economy is implementing voluntary exports restraint, it is the situation when it…

Q: A country imposing a tariff can benefit in terms of social welfare if The terms-of-trade benefit…

A: Tariff refers to the tax that imposed by the government on the imported goods in order to restrict…

Q: A tariff is A. a tax imposed on imports. B. any non-subsidy used to increase trade. C. any non-tax…

A: Trade restrictive policy refers to the policies that place restrictions on the free trade, i.e…

Q: If the world price is $5 and an import quota of 600 is imposed, the loss to the United States is, in…

A: Import quota is a regulation that specifies the maximum amount of a good or service that may be…

Q: Which of the following is NOT a reason why countries impose tariffs on imports? Protect domestic…

A: Tariff A tariff refers to the tax which is imposed by the Government of a nation on the importation…

Q: A country imposing a tariff can benefit in terms of social welfare if The terms-of-trade benefit…

A: Tariffs are the taxes that are imposed by the government on the commodities that are imported from…

Q: Describe what a tariff is and its economic effects

A: Tariff is a duty or a tax imposed on the foreign commodity by the domestic government to restrict…

Q: Explain how lifting an import quota on other countries will affect an exporting country that had…

A: An import quota is an administration forced exchange limitation that restricts the number or…

Q: If the United States adopts a law that every good imported from another country must be visually…

A: A government bureaucracy is developed to implement, administer, and control the authority's laws.…

Q: Evidence indicates that tariffs and quotas are

A:

Q: Import demand is given by A   by the difference between the demand for a good and the supply of a…

A: International trade agreements govern the exchange of goods and services between two or more…

Q: Which of the following is likely to occur if a tariff is imposed on the market? (Assume that the…

A: Imports refers to the difference between quantity supplied and quantity demanded. Imports occur when…

Q: Tariffs and import quotas would benefit the following groups, except    consumers of the product…

A: International trade is the trade that takes place beyond the national borders of a country. Tariffs…

Q: Under what conditions could an import quota and a tariff have exactly the same effect on price and…

A: Government tries to protect the domestic industries from foreign competition with the help of…

Q: In what way are tariff revenues and quota rents similar?

A: Tariffs are the duties or types of taxes imposed on goods for income and protective purposes when…

Q: What are the similarities and differences between an important quota and an important tariff

A: Tariffs are taxes imposed on imported goods. The main purpose of tariff is to increase revenue and…

Q: Which of the following refer to duties and taxes imposed by the government on the goods imported…

A: Tariff barriers Option 3rd is correct. Tariff barriers refer to the tax imposed by the government on…

Q: International trade benefits the exporter at all times and sometimes also the importer. both the…

A: since you have posted multiple subparts we can solve only the first 3 subparts only

Q: Whatever can be done by a tariff can be done by a quota.

A: Whatever can be done by a tariff can be done by a quota  I disagree with statement  Tariff is the…

Q: The figure shows a country’s domestic supply and demand curves for a good, as well as the world…

A: Export subsidy or the imposition of tariffs by the government distorts the competitive equilibrium…

Q: Under what conditions could an import quota and a tariff have have exactly the same effect on price…

A: A trade barrier is a regulation imposed on free trade by the government of an economy to reduce the…

Q: A tariff is a tax on imports. Such a tax can be replicated by applying simultaneously two domestic…

A: Tariffs are imposed by governments to increase income, safeguard native businesses, or exercise…