What is often the goal of quotas? Question 27 options: to protect domestic producers to improve the efficiency of domestic production to encourage resellers to import more goods to increase imports of foreign goods

What is often the goal of quotas? Question 27 options: to protect domestic producers to improve the efficiency of domestic production to encourage resellers to import more goods to increase imports of foreign goods

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter33: International Trade

Section: Chapter Questions

Problem 6QP

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How would direct subsidies to key industries be preferable to tariffs or quotas?
Explain how a subsidy on agricultural goods like sugar adversely affects the income of foreign producers of imported sugar.
government prefers to reduce imports with a tariff instead of a quota depends on whetherA. imports are completely eliminatedB. consumer demand is elastic.c. the demand curve is downward slopingD. barriers prevent new firms from enteringE. production costs are.constant
The analysis of a quota implies that .... please select one or more : a) The effect of a quota on trade is the same as a tariff. b) A quota will cause the same deadweight losses as a tariff. c) States should prefer quota instead of tariff. d) A quota increases imports if it is associated with high price elasticity of demand. e) When a quota is applied, the consumer surplus decreases but the producer surplus does not increase because only the state benefits from the quota.
In the past, Canada has agreed to set an upper limit on the total amount of softwood lumber exported to the United States. This is an example of a(n): Group of answer choices export subsidy voluntary export restriction import quota protective tariff
Which of the following is different from others? a) orderly marketing agreement B) absolute quotas C) a voluntary export agreement D) export quotas
No written by hand solution Which of the following is among the ways a quota can be rationed by a government? A. Government gives the quota licenses free to domestic importers/producers. B. Voluntary Export Restraint - the government gives the quota licenses for free to foreigners. C. All of the answers are possible ways quotas can be rationed D. Government auctions the quota licenses.
Refer to above Figure. Suppose the free-trade price is $85. Also, assume an export subsidy of $10. Calculate the total cost to the government for the export subsidy. $10,000 $14,000 $5,000 $19,000.