2nd Edition

ISBN: 9781947172364

Author: Steven A. Greenlaw; David Shapiro

Publisher: OpenStax

Concept explainers

A tariff is a kind of tax that is charged on exported and imported items. It means tariff is charged on both kinds of goods i.e., exported and imported. However, some goods may be exempted from this kind of tariff. Protective Tariffs refer to the charges…

Textbook Question

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Chapter 34, Problem 48CTQ

Why might a tax on domestic consumption of resources critical for national security be a more efficient approach than barriers to imports?

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Chapter 34, Problem 47CTQ

Chapter 34, Problem 49CTQ

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List and briefly describe the principal restrictions that may be applied to a nation’s imports.

Can you please answer question 47, please? No explanation needed. Thanks in advance. 47) Which of the following is NOT a valid argument for protection? A) To keep declining industries going in the long run in order to safeguard jobs B) To prevent dumping by other countries from giving them an unfair advantage over domestic suppliers C) To allow infant industries to survive foreign competition D) To allow older industries with a potential comparative advantage a chance to make significant investments

Summarize the arguments in support of restricting imports.

Chapter 34 Solutions

Principles of Economics 2e

Ch. 34 - Explain how a tariff reduction causes an Increase...Ch. 34 - Explain how a subsidy on agricultural goods like...Ch. 34 - Explain how trade barriers save jobs in protected...Ch. 34 - Explain how trade barriers raise wages in...Ch. 34 - How does international trade affect working...Ch. 34 - Do the jobs for workers in low-income countries...Ch. 34 - How do trade barriers affect the average Income...Ch. 34 - How does the cost of saving jobs in protected...Ch. 34 - Explain how predatory pricing could be a...Ch. 34 - Why do low-income countries like Brazil, Egypt, or...

Ch. 34 - Explain the logic behind the race to the bottom...Ch. 34 - What are the conditions under which a country may...Ch. 34 - Why is the national security argument not...Ch. 34 - Assume a perfectly competitive market and the...Ch. 34 - What is the difference between a free trade...Ch. 34 - Why would countries promote protectionist laws,...Ch. 34 - What might account for the dramatic increase in...Ch. 34 - How does competition, whether domestic or foreign,...Ch. 34 - What are the gains from competition?Ch. 34 - Who does protectionism protect? From what does it...Ch. 34 - Name and define three policy tools for enacting...Ch. 34 - How does protectionism affect the price of the...Ch. 34 - Does international trade, taken as a whole,...Ch. 34 - Is international trade likely to have roughly the...Ch. 34 - How is international trade, taken as a whole,...Ch. 34 - Is international trade likely to have about the...Ch. 34 - What are main reasons for protecting infant...Ch. 34 - What is dumping? Why does prohibiting it often...Ch. 34 - What is the race to the bottom scenario?Ch. 34 - Do the rules of international trade require that...Ch. 34 - What is the national interest argument for...Ch. 34 - Name several of the international treaties where...Ch. 34 - What is the general trend of trade barriers over...Ch. 34 - If opening up to free trade would benefit a...Ch. 34 - Who gains and who loses from trade?Ch. 34 - Why is trade a good thing if some people lose?Ch. 34 - What are some ways that governments can help...Ch. 34 - Show graphically that for any tariff, there is an...Ch. 34 - From the Work It Out Effects of Trade Barriers,...Ch. 34 - If trade barriers hurt the average worker in an...Ch. 34 - Why do you think labor standards and working...Ch. 34 - How would direct subsidies to key industries be...Ch. 34 - How can governments identify good candidates for...Ch. 34 - Microeconomic theory argues that it is...Ch. 34 - How do you think Americans would feel if other...Ch. 34 - Is it legitimate to impose higher safety standards...Ch. 34 - Why might the unsafe consumer products argument be...Ch. 34 - Why might a tax on domestic consumption of...Ch. 34 - Why do you think that the GAIT rounds and, more...Ch. 34 - An economic union requires giving up some...Ch. 34 - What are some examples of innovative products that...Ch. 34 - In principle, the benefits of international trade...Ch. 34 - Economists sometimes say that protectionism is the...Ch. 34 - Trade has income distribution effects. For...Ch. 34 - Assume two countries, Thailand (T) and Japan (J),...Ch. 34 - You have just been put in charge of trade policy...Ch. 34 - The country of Pepperland exports steel to the...

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