Why do economists believe that a a tariff is better than an import quota? (Actually most economists do not like either!)

Q: When a small country imposes a tariff on an imported good, domestic consumers bear of the statutory…

A: Answer -In an economy, statutory burden refers to the tax that actually paid by the market…

Q: Consider the effects of an import tariff in a small country using the graph below for this question.…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: clow, e cost and benefits of import tariff on a large im untry? rice, P S

A: An import tariff is a tax imposed by the domestic nation on the goods and services imported from the…

Q: (i) What is the difference between tariff rate quotas and quantitative restrictions?

A: A product or service purchased in one country but manufactured in another is known as an import. The…

Q: How would direct subsidies to key industries be preferable to tariffs or quotas?

A: International trade allows nations to interact with one another via import-export of goods and…

Q: If Honduras is open to international trade in soybeans without any restrictions, it will import tons…

A: In the absence of international trade, the equilibrium price and quantity is determined by the…

Q: Solve this economicExplain how tariff revenue can be considered an element of the importing…

A: Answer - Tariff :- It is tax which impose by a domestic country on the imported goods. The tarriff…

Q: If a nation that imports a good imposes a tariff, itwill increasea. the domestic quantity…

A: When we are talking about international trade, that means there will be import and export of goods…

Q: What are the commonly used arguments for the use of tariffs?

A: A tariff is the tax that the government charges on the import and the export to a country dealing in…

Q: Describe the structure of the tariff in the industrial countries?

A: A tariff is a duty forced by an administration of a country or of a supranational association on…

Q: Suppose Zimbabwe's Government had successfully imposed a tariff on its international manufacturers.…

A: In Zimbabwe, domestic equilibrium quantity and price is given by intersection of domestic demand and…

Q: The demand for cameras in a certain country is given by D = 8000 – 30P, where P is the price of…

A: Given  Domestic demand equation of camera: D=8000-30P Domestic supply equation of camera: S=4000+10P…

Q: Export subsidy can be welfare improving trade policy for a domestic country if it cannot be welfare…

A: In an economy, export subsidy refers to the government support to the producers to supply more…

Q: A tariff on imports benefits domestic producers of the imported good because It hurts foreign…

A: The product is imported if the domestic price is higher than the world price. Any tariff on the…

Q: Describe the various types of political controls on international trade. Be sure to highlight the…

A: Various political controls on international trade are: Quotas : Quotas are restrictions which are…

Q: What would happen if the European Union (E.U.) put a quota on American jeans and only allowed their…

A: The import quota is the limit on the imports that can be allowed importing in a country. The quota…

Q: What is the effect of placing tariffs on products imported into the U.S. from other countries? Are…

A: Import Tariffs: It refers to the tariffs that are imposed on the imported goods. They increase the…

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: The graph attached shows the car market in Mexico when Mexico places no restriction on the quantity…

A: 1. The world price of a car = $10,000, Suppose if the government of Mexico introduces a $2,000…

Q: 1. Consider the following: Canada U.S. Rest of the World (ROW) PxC=$8 PXUS=$5 PxR=$4 (i) Tariff…

A: A tariff is a tax levied on the imported goods by the home country. This is a distortion from free…

Q: 1. What do the welfare effects of an import quota differ from those of import tariff?

A: A tariff or obligation (the words are utilized conversely) is a duty imposed by legislatures on the…

Q: Suppose the U.S. imposes a tariff of $1 per pound of sugar on imports. What is the equilibrium price…

A: New equilibrium price with tariff = $2 + $1 = $3 Quantity of sugar with tariff: QT = 8 – 3 QT = 5

Q: Using a domestic-market demand- and supply-curve graph, (a) show the impact of tariff on a small…

A: Since you have posted questions with several parts , I will answer the first three for you.

Q: A large or small country imposing a tariff can benefit in terms of social welfare?

A: The nations around the world get involved in trade of goods, services, technologies, ideas, assets,…

Q: 1.16 The demand for cars in a certain country is given by: D = 15,000 - 0.3P, where P is the price…

A: A country becomes an importer when world price of the good is lower than domestic equilibrium price.

Q: What is the difference between tariffs and quotas? What are the benefits of reducing barriers to…

A: A tariff is a levy levied on imports and exports of products by the government of a country or…

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: Evaluate this statement: "If a country bans an import, smuggling is inevitable. We should welcome…

A: Import:Import is a trade practice in which a country buys or purchases goods and services from other…

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: Why do export subsidies result in welfare losses? Can can you make a graphic illustration about it?

A: Export subsidy will lead to welfare losses.