When a country opens for trade and becomes an exporter of a good, which of the following is a consequence? The gains of domestic consumers of the good exceed the losses of domestic producers of the good. The price received by domestic producers of the good decreases. The gains of domestic producers of the good exceed the losses of domestic consumers of the good. The price paid by domestic consumers of the good decreases.

Q: In trade policy a balance must be stricken between Select all that apply: importers and exporters…

A: The answer is -  Option 2. domestic business special interests and domestic consumer interests.…

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: For large countries an import tariff will deteriorate the terms of trade with other countries.…

A: A tariff refers to a tax that one nation levies on products and services imported from…

Q: Evaluate the effectiveness of artificial trade barriers, such as tariffs and import quotas, as a way…

A: Trade barriers on import will lead individuals in partially substituting domestically produced goods…

Q: What is a tariff? A tax imposed on exported products that lowers the domestic price below the world…

A: Correct : D. A tax imposed on imported products that raises the domestic price above the world…

Q: Distinguished between domestic and international trade

A: In terms of trade, domestic refers to within the country where as international refers to outside…

Q: Discuss the advantages and disadvantages in participating in international trade

A: International trade takes place when the countries interact with each other and transport goods and…

Q: When a market begins to engage in international trade: consumers of the imported good may be…

A: International trade helps countries expand their markets and obtain goods and services that are…

Q: Please mark the following statements True or False and explain why in one or two sentences. 1. A…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: The U.S. will no longer import goods or services from other countries. It will instead focus on…

A: The international trade would result in the production of the various goods and services . The…

Q: When China's clothing industry expands, the increase in world supply lowers the world price of…

A: When two countries trade with each other without any barriers, the countries are said to be free…

Q: International trade causes the loss of jobs in industries where a country has Select the correct…

A: When there is free trade, parties involved gains from trade by trading with each other.

Q: When tariffs are imposed on an imported good, Group of answer choices 1.jobs are saved, but at a…

A: A nation's engagement in a more open international trade increases the total well-being of an…

Q: Why is a quota more detrimental to an economy than a tariff that results in the same level of…

A: "Since you have asked multiple questions, we will answer only first question for you. If you have…

Q: A country's level of trade is measured by exports as a percentage of GDP.

A: The level of commerce in a country may appear to be similar to the balance of trade at first glance,…

Q: Which of the following is not a true statement about gains from trade? Select the correct answer…

A: Here , we have to find which option is not a true statement about gains from trade.

Q: The below 3 graphs show net losses to the economy of the country that imposed tariffs or quotas on…

A: The government of a country tries to protect its domestic industries from cheaper imports and high…

Q: Country A is increasing tariffs on steel imports to protect country A's local steel industries. How…

A: Exchange strategy is the arrangement of arrangements, guidelines, and practices by an administration…

Q: "Imports destroy jobs; exports create them.  The average American is hurt by imports and helped by…

A: The availability of a broader range of goods for home customers and lower prices for those items due…

Q: The world price of good X is $15. Under a policy of free trade the US production of good X would be?

A: Free Trade Agreement A free trade agreement can be defined as an arrangement between multiple…

Q: Predict what each of the following events would do to the terms of trade of the importing country…

A:

Q: Trade policy that protects domestic industry, such as export subsidies, will always decrease welfare…

A: A subsidy is defined as a benefit given by the government to businesses or institutions to increase…

Q: Two countries are willing to trade and they have the following information: Country A produces 1000…

A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity…

Q: nduras allows interrational trade in the market for soybeans, it will import tons of soybeans.…

A: Equilibrium is achieved at the output level where Qs equals Qd

Q: When a country allows trade and becomes an exporter of a good, which of the following is NOT a…

A: When an economy allows trade and exports, then the price received by sellers in the domestic market…

Q: Which one of the following policy tools does not place barriers to international trade or finance?

A: Tariffs are the taxes on imports and exports if good and services Trade quotas means the capping of…

Q: Which of the following has not been a facilitating factor in world trade? general declines in…

A: Foreign Trade refers to the buying and selling of goods and services across the world. There are…

Q: Quotas may be set on worldwide imports or on imports from a specific country.True or False

A: A trade restriction or trade barrier is an artificial constraint on the trade of commodities and…

Q: Cars imported into the United States must have certain safety features to be allowed on highways and…

A: Economist argue that the world resources are better utilised if the trade is free among the…

Q: Data and empirical observations have validated the fact that a. Sectors specific to export…

A: According to specific factor model, the factors that are, specific to the exports industries or…

Q: Policymakers and economists have been trying to come up with the best policy mix to improve economic…

A: 1. Recession is one part of the economic cycle that can't be phased out it can be identified by…

Q: Explain the statement: “Countries that specialize based on comparative advantage gain from trade.”

A: The measure that involves the transfer of either services or goods being from one entity or person…

Q: a) A country can have an absolute advantage in the production of a good, but not have a comparative…

A: International trade is the exchange of goods and services with different countries or across border.…

Q: Review absolute and comparative advantages.  Personal private property protection allows for greater…

A: Absolute and comparative advantage are two important concepts in the field of international trade.

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

A: International trade encompasses the exchange of products, services, jobs, and capital among nations.…

Q: Evaluate the following statement: "Canada has an absolute advantage in growing wheat. Therefore, it…

A: The absolute advantage is the ability of a country to produce more quantity of output than the other…

Q: If the United States produces 8 automobiles and Canada produces 2 automobiles and the United States…

A: Opportunity cost is the cost that is foregone in order to make a choice.

Q: Argentina and Brazil are considering the potential gains of trade. There is only one factor of…

A: Production possibilities frontier shows different combinations of two goods that can be produced…

Q: Trade, tariffs, and protectionism. a) Explain, with aid of a diagram, the welfare effects of a…

A: Tariff ia the restrictive toola used by government to protect domestic industries from foreign…

Q: Argentina and Brazil are considering the potential gains of trade. There is only one factor of…

A: The voluntary exchange of commodities or services between economic players is referred to as trade.…