[Solved] Assignment 219428

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Assignment Details

Subject: Economics    / General Economics
Question
Which of the following is NOT true of nontari? barriers to imports??
? ? A Unlike tari?s, the nontari? barriers do not increase the price of the
imported goods in the domestic markets.? ? ? B Nontari? barriers can limit imports with greater certainty than tari?s.? C Some nontari? barriers create uncertainty about the conditions under
which imports will be permitted.? ? D Like tari?s, nontari? barriers also result in a net welfare loss in a small
country.? ?
?
? 1 points QUESTION 2 Refer to Figure 9.2 in the PDF below. After the quota is
imposed by the government, the domestic producers gain
$_______ million. (Denote negative answers with a "-"). ? ? ? ? Figure 9.2.pdf ? ?
?
1 points QUESTION 3 Refer to Figure 9.2. If the government auctions the quota
licenses, it will collect $________ million in revenue. (Denote
negative answers with a "-"). ? ?
?
?
?
? 1 points QUESTION 4 Refer to Figure 9.2. If the government auctions the quota
licenses, the net change in welfare (change in total surplus)
for the importing country will be $_______ million. (Denote
negative answers with a "-"). ? ?
?
?
?
? 1 points QUESTION 5 Refer to Figure 9.2. Suppose that instead of an import
quota, this country successfully convinced the exporting
country to impose a voluntary export restraint of the same
magnitude as the quota (0.9 million mopeds). In this case,
the net change in welfare for the importing country will be
$_______ million. (Denote negative answers with a "-"). ?
?
? ? ?
?
1 points QUESTION 6 Governments choose to use voluntary export restraints
rather than tari?s because:?
?
? voluntary export restraints have the potential to generate
higher revenue.?
? tari?s more obviously violate the international rules of the
WTO.? ? voluntary export restraints do not generate any welfare loss
in the importing country.?
? the increase in the price of the imported good in the
domestic market is much lower in case of VERs than tari?s. ?
?
?
? 1 points QUESTION 7 Which of the following statements reflects a situation in which there are
external benefits??
? ? John sells his car to his neighbor Pete at half the first-hand price.? John pays 5 percent of his income as taxes.? ? ? John paints his house and cleans his paintbrushes in the stream.? John’s decision to get vaccinated for smallpox reduces the chances that
his neighbor Pete will get smallpox.? ? ?
?
? 1 points QUESTION 8 ? The French highly value domestic production of traditional French cheese
made by high-cost, traditional production methods. According to the
specificity rule, the most e?cient policy tool to protect this traditional
industry would be:? ? to impose an import ban on cheeses produced in other countries.? ? ? to impose an import tari? on cheeses produced in other countries.? ? to provide a production subsidy to the domestic firms.? to eliminate all barriers on cheese imports since no protectionist policy
would be e?cient.? ?
?
? 1 points QUESTION 9 Refer to Figure 10.1 in the PDF below. The overall impact of
the tari? would be $_______ million. ?
(Denote negative answers with a “-“). ? Figure 10.1.pdf ?
?
?
?
?
? 1 points QUESTION 10 Refer to Figure 10.1. If there is initially free trade, and then a
$50 per unit subsidy is given to the domestic producers of
mopeds, domestic production will increase by ________
million. (Denote negative answers with a “-“). ? ?
?
?
?
? 1 points QUESTION 11 If there is initially free trade, and then a $50 per unit subsidy
is given to the domestic producers of mopeds, the change
in domestic consumption of mopeds would be ________
million. (Denote negative answers with a “-“). ? ?
?
?
?
? 1 points QUESTION 12 The impact on the national well-being if, instead of imposing
a tari? of $50 per unit, the government provides a subsidy of
$50 per unit to the domestic manufacturers of mopeds
would be $______ million. (Denote negative answers with a
“-“). ?
?
?
?
?
? 1 points QUESTION 13 A small country imports T-shirts. With free trade at a world
price of $10, domestic production is 10 million T-shirts and
domestic consumption is 42 million T-shirts. The country’s
government now decides to impose a quota to limit T-shirt
imports to 20 million per year. With the import quota in
place, the domestic price rises to $12 per T-shirt and
domestic production rises to 15 million T-shirts per year. The
change in consumer surplus due to the quota on T-shirts is
$_______ million. (Denote negative answers with a “-“). ? ?
?
?
?
? 1 points QUESTION 14 A small country imports T-shirts. With free trade at a world
price of $10, domestic production is 10 million T-shirts and
domestic consumption is 42 million T-shirts. The country’s
government now decides to impose a quota to limit T-shirt
imports to 20 million per year. With the import quota in
place, the domestic price rises to $12 per T-shirt and
domestic production rises to 15 million T-shirts per year. The
consumption e?ect due to the quota on T-shirts is
$_______million. (Ignore negative sign).? ?
?
?
?
? 1 points QUESTION 15 A small country imports T-shirts. With free trade at a world
price of $10, domestic production is 10 million T-shirts and
domestic consumption is 42 million T-shirts. The country’s
government now decides to impose a quota to limit T-shirt
imports to 20 million per year. With the import quota in
place, the domestic price rises to $12 per T-shirt and
domestic production rises to 15 million T-shirts per year. If
the government auctions the import licenses, the national
well-being due to the quota on T-shirts will be $______
million. (Denote negative answers with a “-“). ?

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