Exam 9: The Instruments of Trade Policy

-Refer to above figure.Given a tariff of $3 per unit,what is the country's consumer surplus?

As globalization tends to increase the proportion of imported inputs relative to domestically supplied components

The fact that industrialized countries levy very low or no tariff on raw materials and semi processed goods

A tax of 20 percent per unit of imported garlic is an example of a(n)

-Refer to above figure.In the absence of a tariff and in the presence of trade,what is the country's consumer surplus?

Throughout the post-World War II era,the importance of tariffs as a trade barrier has

The European Union's Common Agricultural Policy (CAP)is,in effect

In the country levying the tariff,the tariff will

The U.S.sugar quota

Suppose an import-competing firm is imperfectly competitive.Replacement of an export tariff with an import quota that yields the same level of imports will ________ market price,________ producer surplus,________ consumer surplus,________ government revenue,and ________ overall domestic national welfare.

-Refer to above figure.With free trade and no tariffs,what is the quantity of Widgets produced domestically?

Specific tariffs are

An import quota will ________ producer surplus,________ consumer surplus,________ government revenue,and ________ overall domestic national welfare.

The principle benefit of tariff protection goes to

When a government allows raw materials and other intermediate products to enter a country duty free,this generally results in a(an)

It is argued that a tariff may help promote employment in a single industry,but is not likely to help employment in general.Discuss.

An export subsidy will ________ producer surplus,________ consumer surplus,________ government revenue,and ________ overall domestic national welfare.

Ad valorem tariffs are

Should the home country be "large" relative to its trade partners,its imposition of a tariff on imports would lead to an increase in domestic welfare if the terms of the trade rectangle exceed the sum of the

An export tariff will ________ producer surplus,________ consumer surplus,________ government revenue,and ________ overall domestic national welfare.