Why do governments so often choose to protect favored industries with tariffs? Group of answer choices The economic benefits to the industries are larger than the costs to demanders. The gains from protection are enjoyed by many, while the costs are borne by only a few. The few who gain from protection each gain a lot, while the many who lose each lose

Q: Suppose a big country with a good's demand described by P = 96 - 4Q and a good's supply described by…

A: When a large country imposes tariffs as a measure if protectionism the prices of the particular good…

Q: do you support the protectionist tariffs for the usa. is so for what instances and reasons, if not,…

A: Protectionist tariff is the tariff imposed on imports by government to save the domestic economy…

Q: (Trade Restrictions) Suppose that the world price for steel is below the U.S. domestic price, but…

A: When a country wants to restrict its imports of foreign goods it can use two devices: Tariffs…

Q: Most economists believe that tariffs area. a good way to promote domestic economicgrowth.b. a poor…

A: ANS According to economists tariffs results in a rise in the level of the price which drives up the…

Q: 5. Protectionism a. is the use of cheap labor to protect firms from paying high wages. b. is the use…

A: International trade refers to the concept wherein the countries tend to exchange goods and services…

Q: Should America encourage free trade with its trading partners or seek a more protectionist approach?…

A: Free trade is a policy of unrestricted trade between countries.

Q: Explain how imposing tariffs on imports ultimately harm US consumers. Elaborate on how producer and…

A: Tariff refers to the restrictive import behavior where the domestic government imposes the tax on…

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

A: Tariffs: It refers to the amount which is charged by the government on the goods and services which…

Q: If a small nation has a domestic supply of Q = 10 + 10(P) and a domestic demand of Q = 100 – 5(P)…

A: domestic supply of Q = 10 + 10(P) domestic demand of Q = 100 – 5(P) Equilibrium is achieved where…

Q: Protectionism uses tariffs as trade barriers. O True O False

A: A trade barrier is the set of restrictions that the country’s government imposes on international…

Q: A country imposing a tariff can benefit in terms of social welfare if the terms-of-trade benefit…

A: An import tariff is a tax on import and we know that tax creates a wedge between prices at which…

Q: What are the pros and cons of tariff

A: The tariff is an important monetary barrier used to control the international trade. Tariff is the…

Q: One of the following groups hurt from tariff A. domestic consumer B. Domestic producers C. Foreign…

A: Governments impose tariffs in order to raise revenue, for the protection of domestic industries, or…

Q: Why might a tax on domestic consumption of resources critical for national security be a more…

A: The three main barriers to  IT (international trade) are common barriers. like distance &…

Q: Should countries in financial distress be permitted to install temporary tariff and nontariff…

A: Tariffs are direct taxes levied on commodities. Non-tariff barriers, on the other hand, are placed…

Q: Explain how the cost of a country’s tariffs is calculated as a percentage of gross domestic product…

A: GDP refers to the final value of goods and services that produced in a certain period of time in an…

Q: A small country's demand curve is given by Q-31-2P and its supply curve is given by Q-2P- 17. If the…

A: A tariff is a tax placed on goods imports or exports by the government of a country or a…

Q: It costs a computer manufacturer £2000 to produce a personal computer.  This manufacturers sells…

A: "Since you have asked multiple questions, we will solve the first one for you. If you want any…

Q: The world price of oranges is $15 per bushel. The domestic supply of oranges is 100 + 2(P) and the…

A: International trade refers to the exchange of capital, goods, and services across different…

Q: TRUE OR FALSE? EXPLAIN. To protect an industry, it is best when the Effective Rate of Protection is…

A: Answer -     Free Trade area : - It is the are where the all countries can trade freely without fear…

Q: Discuss this statement: "Free traders win the economic arguments, but protectionists (those who…

A: Free trade is generally a win-win situation for everyone and all the participants are better-off…

Q: country imposing a tariff can benefit in terms of social welfare if

A: Tariffs: It refers to the tax which is imposed by the government on goods and services which is to…

Q: In the absence of a well-developed local capital market borrowers might go to which World Bank…

A: Well-developed capital markets are crucial to the economic growth of a country as they allow smooth…

Q: Explain why the arguments for tariffs may be valid in the cases of dumping and infant industries.

A: Tariff can be defined as the barrier that is imposed on the imports of goods and services.

Q: Protectionist governments sometimes use tariffs to prevent imports. O True False

A: Economist promotes the free trade as free trade leads to optimal allocation of the world resources…

Q: Explain the winners and losers of trade barriers. You can be specific to a particular trade barrier…

A: Trade barriers refers to the restriction implied by the authorities of a country in order to control…

Q: Assume that production of cars in Indonesia involves the use of intermediate goods listed in the…

A: Since we answer only questions up to 3 sub-parts, we will answer the first 3. (a)  The formula to…

Q: Tariffs frequently lead to unintended consequences due to domestic politics. Select one: True O…

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

Q: Why does protectionism cost jobs in other unprotected industries? Select the two correct answers…

A: Answer: Protectionism provides support and creates jobs in a specific industry but it causes loss of…

Q: a.Evaluate the reasons we see the prevalence of intra-industry trade between similar economies.

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: 2. Name the five typical National Treatment limitations as identified by the WTO Secretariat. - 3.…

A: Tariffs are taxes being imposed by government of a country on the imports as well as exports of…

Q: Discuss how imposing tariffs on imports ultimately harm US consumers. Elaborate on how producer and…

A: Tariff refers to the restrictive import behavior where the domestic government imposes the tax on…

Q: Sometimes governments use the 'national security' argument to justify protecting an industry with…

A: National security to protect industry tariffs  Answer A option Stockpiling the product is a…

Q: “The potentially valid arguments for tariff protection are also the most easily abused.” What are…

A: Trade barriers refers to restrictions that are placed on free trade. This may be justified in order…

Q: Evaluate which protectionist method is best for an economy.

A: A nation's trade protectionist policy is a calculated and deliberate effort to limit imports while…

Q: Some observers have noted that by adopting VERs instead of Some observers have noted that by…

A: VER is a non- tariff barriers such as quotas and embargoes. These the self-imposed limit on the…