Exam 9: Application International Trade: The Winners and Losers From Trade

Figure 9-4.The domestic country is Nicaragua. -Refer to Figure 9-4.The change in total surplus in Nicaragua because of trade is

Figure 9-16.The figure below illustrates a tariff.On the graph,Q represents quantity and P represents price. -Refer to Figure 9-16.The tariff

Figure 9-22 The following diagram shows the domestic demand and domestic supply in a market.In addition,assume that the world price in this market is $40 per unit. -Refer to Figure 9-22.Suppose the government imposes a tariff of $20 per unit.With trade and a tariff,consumer surplus is

Figure 9-21 The following diagram shows the domestic demand and domestic supply for a market.In addition,assume that the world price in this market is $40 per unit. -Refer to Figure 9-21.Consumer surplus with free trade is

Figure 9-13 -Refer to Figure 9-13.With trade,the country

Figure 9-20 The figure illustrates the market for rice in Vietnam. -Refer to Figure 9-20.From the figure it is apparent that

Tariffs and quotas are different in the sense that

Suppose a country begins to allow international trade in steel.Which of the following outcomes will be observed regardless of whether the country finds itself importing steel or exporting steel?

Figure 9-23 The following diagram shows the domestic demand and domestic supply for a market.Assume that the world price in this market is $120 per unit. -Refer to Figure 9-23.With free trade,the domestic price and domestic quantity supplied are

Figure 9-20 The figure illustrates the market for rice in Vietnam. -Refer to Figure 9-20.In the absence of trade,total surplus in the Vietnamese rice market amounts to

​Figure 9-26 The diagram below illustrates the market for baseballs in the U.S. -Refer to figure 9-26.The figure shows that

When a country allows trade and becomes an exporter of a good,which of the following is not a consequence?

Figure 9-12 -Refer to Figure 9-12.Equilibrium price and equilibrium quantity without trade are

Figure 9-15 -Refer to Figure 9-15.A result of the tariff is that,relative to the free-trade situation,the quantity of saddles imported decreases by

Figure 9-12 -Refer to Figure 9-12.Consumer surplus before trade is

When a country that imported a particular good abandons a free-trade policy and adopts a no-trade policy,

Figure 9-25 The following diagram shows the domestic demand and supply in a market.Assume that the world price in this market is $10 per unit. -Refer to Figure 9-25.With free trade and a $5 per unit tariff,the country

When a country allows trade and becomes an importer of a good,

Figure 9-5 The figure illustrates the market for tricycles in a country. -Refer to Figure 9-5.The horizontal line at the world price of tricycles represents the

Figure 9-6 The figure illustrates the market for roses in a country. -Refer to Figure 9-6.When the tariff is imposed,domestic consumers