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what are the advantages and disadvantages of Rice Tariffication Law to the rice farmers.
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- Discuss at least 3 barriers affecting the Philippine international trade.Republic Act 11203 or the Rice Tariffication Law was passed in the Philippines last 2019. With the concepts of trade barriers, examine the positive and negative effects of theimposition of this law.What would be the effective rate of protection on bicycles in China if China places a 45 percent tariff on bicycles, which have a world price of $210, and no tariff on bike components, which together have a world price of $110? The effective rate of protection (ERP) is percent. (Round your answer to two decimal places.)
- Discuss "THE NORTHWEST PASSAGE" discovery and its significance to international trade.Compare the effects of a $10 tariff in a small country and a large country by answering the question below. Assume that the countries you are comparing have the same domestic supply and demand curves and face the same initial world price. does the Quantity imported falls in the large country by the same amount as in the small country? does The domestic price rises in the large country by more than in the small country? does tariff revenue rises in the large country by less than in the small country?A tariff on imported widgets would __________ domestic widget consumers, __________ domestic widget producers, and __________ foreign widget producers.
- From this data, we should expect internationally traded commodities to be more expensive in Norway than in the USA. is it true or falseT F Quotas may be set on worldwide imports or onimports from a specific countryCountry Demand curve (P = S$) Supply curve (P = S$) Singapore P = 76 - 2Q P = 52 + 2Q Thailand P = 68 – 2Q P = 44 + 2Q (Assume that only two countries above involve in Product A in an international market) a) Compute the world equilibrium price and trade quantity for Product A. b) If Singapore government impose tariff of S$4 per unit of Product A, draw a diagram to illustrate the costs and benefits of tariff for Singapore. c) Based on the diagram in part (b) above, compute the following: (i) Producer gain (ii) Consumer loss (iii) Government revenue gain
