What does import quotas and local content requirement mean for importing economies? What does it mean for exporting countries?

Q: If demand for a country's export good rises, other things being equal, will both the commodity terms…

A: If demand for country export goods rises this will lead to an increase in the Price index=Px/Pi or…

Q: a)What was the quantity sold locally per year after tariff ? Please give your answers in two decimal…

A: Given : Quantity produced locally before tariff imposition : 15540 per year Quantity produced…

Q: Who are the winners and who are the losers when tariffs or quotas are implemented?

A: The tariffs are the unitary tax imposed by the government over the commodity which is being imported…

Q: Namibia import most of its goods, and to encourage local production it can levy a tariff on imports.…

A: Tariffs: These are the indirect taxes that are being imposed by the governments around the world on…

Q: What does it mean by imports that threaten national security when pertaining to regulating import…

A: When talking about opening of an economy to make international trade, it can be seen that there is…

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: Explain why a quota may result in lower total surplus in the home country than a tariff, even if…

A: A tariff is a percentage of the product's worth that the importer is required to pay. A quota is a…

Q: What is a subsidy we have in the United States and how is that related to protectionism?

A: A subsidy, sometimes known as a government incentive, is a type of financial help or support given…

Q: What does it mean by subsidies and nonmarket economy countries when pertaining to regulating import…

A: Many governments take action against dumping and unfair trade practices in the international market…

Q: Limits on the quantity or total value of specific products imported into a nation are a) export…

A: The quota is imposed by a government that restricts the quantity of a commodity that a country can…

Q: Why Japan is dependent on food import?

A: Definition: An import is a decent or administration purchased in one country that was delivered in…

Q: With the help of a graph, explain how imposition of an import tariff affects the tariff-levying…

A: Tariff: Tariff is a non-quantity barrier. It is a tax which is imposed on the import as well as on…

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: Is it legitimate to impose higher safety standards on imported goods that exist in the foreign…

A: Imposing higher safety standards on imported goods in favour of unsafe consumer products argument…

Q: better for consumers?

A: Answer Import substitution industrialization is associated economic conception that's typically…

Q: What are the difference of Tariff and non-tariff restrictions?

A: Tariff restrictions are the tax restrictions and non-tariff restrictions are the non-tax…

Q: 4) How does an increase in the number of product varieties benefit an importing country?

A: (4) (i) The exports and imports define the financial transactions of trade and are being limited by…

Q: Explain what are the general effects of import restrictions on trade

A: Meaning of Trade: The term trade refers to the situation under which the products and goods are…

Q: Highlight the basis for trade between two countries with identical demands and different production…

A: Production possibility curve States the tradeoff which are related to resources being allocated in…

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: In 2015, the European Commission proposed giving individual member states the right to ban imports…

A: Genetically Modified Organisms(GMO) are products that have been worked on in laboratories to…

Q: A German worker takes 400 hours to produce a carand 2 hours to produce a case of wine. A…

A: a. Gains from trade are based on the comparative advantage, which is based on opportunity cost. To…

Q: Summarize the arguments in support of restricting imports.

A: A country is said to be an open economy when it trades with other country. Free trade occurs when…

Q: which of the following is not a reason for restricting trade? a. Saving domestic jobs b. Preventing…

A: Trade is restricted to save domestic jobs,because imports decrease sales of domestic industries.…

Q: What is the main argument against international trade restrictions?

A: International trade restrictions create problems for the exporting countries.

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: Producing socks is labor-intensive, while producing satellites is capital-intensive. If India…

A: When two countries involve in trade, one country ‘export’ that good in which it has ‘comparative…

Q: Openness of an economy is: (a) the extent to which a country is involved in international trade and…

A: An economy is characterized as open or close according to its functioning and ability to make…

Q: evaluate the benefits if increasing trade between africa and china for africa

A: Ans in step 2

Q: If a smaller country imports a good (electronics) from a larger country, is it beneficial for the…

A: International trade is essentially the buying and selling of goods and services between countries. A…

Q: What measures do governments take to promote exports and restrict imports? Who benefifits and who…

A: There are various measures taken by the government to control imports and promote exports, which…