Which of the following statements about a tariff and a quota is true? Group of answer...
Which of the following statements about a tariff and a quota is true? Group of answer choices
With a quota the domestic production of the good increases, but not with a tariff.
With a tariff the domestic price of the good increases, but not with a quota.
With a tariff the government collects revenues, but not with a quota. all of these
With a quota the quantity of imports falls, but not with a tariff.
Homework Answers
The answer is option c- With a tariff the government collects revenues, but not with a quota
There are two types of protection: taxes or duties on imported goods designed to raise the price to or above the current domestic price, and non-tariff barriers covering all other barriers
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Which of the following statements about a tariff and a quota is
true? Group of answer...
QUESTION 17 A trade quota is O a restriction on the quantity of goods that can...
QUESTION 17 A trade quota is O a restriction on the quantity of goods that can be imported O a tax on imports O a tax on exports the restriction of trade through regulations on domestic producers QUESTION 18 A tariff on a good when the world price is lower than the domestic price leads to O tariff revenues that will be lower than under free trade domestic imports that will be higher than under free trade lower domestic consumption...
True or False: If the amount of quota imposed by a government and the resultant price...
True or False: If the amount of quota imposed by a government and the resultant price change are equivalent to the amount of imports and the price change that a specific tariff would have, then the revenue the government collects from the imposition of the quota is the same as the revenue the government would collect if it imposed a specific tariff instead. Quotas are the commonly used form of trade barriers in the world.
1. 2) The deadweight loss associated with an import tariff is smaller than a quota of...
1.
2) The deadweight loss associated with an import tariff is
smaller than a quota of the same impact because
________________.
a. The government receives revenue from the quota and not the
tariff.
b. Price increases more with a tariff.
c. Quantity decreases more with a quota.
d. The government receives revenue from the tariff and not the
quota.
e. Cannot be determined from the information
3) Will this firm shutdown?
Q = 5
Price: $30
MC = $10
AVC...
(a) Home Market (b) Import Market Price Price Deadweight loss due to the tariffb+d S, S2 D2D Quantity Imports FIGURE 8-5 Effect of Tariff on Welfare The tariff increases the price from PW to pW+ t. A...
(a) Home Market (b) Import Market Price Price Deadweight loss due to the tariffb+d S, S2 D2D Quantity Imports FIGURE 8-5 Effect of Tariff on Welfare The tariff increases the price from PW to pW+ t. As a result, consumer surplus falls by (a + b+ c+ ). Producer surplus rises by area a, and government revenue increases by the area c. Therefore, the net loss in welfare, the deadweight loss to Home, is (b + a), which is measured...
Paradise is a small country that under free trade imports roses at $2.00 a dozen. Its...
Paradise is a small country that under free trade imports roses at $2.00 a dozen. Its domestic demand curve and domestic supply curve for roses are as follows: D = 100 - 10 P S = 10 + 10 P Calculate the equilibrium quantity imported under free trade. Under free trade: M = _________ If the government imposes a tariff of $1.00 on roses show graphically and calculate the impact of this tariff Graph: Under tariff: Domestic...
Exhibit 30-2 Reference: Ref 18-6 The government is considering imposing either a tariff that will restrict...
Exhibit 30-2 Reference: Ref 18-6 The government is considering imposing either a tariff that will restrict export supply according to the data in Exhibit 30-2 or a quota that limits imports to 8 units. Which of the following is true? Consumers will prefer the quota. The government will collect more revenue with the quota. Producers will prefer the quota. Imports will be higher with the quota. The equilibrium price will be lower with the quota. Quantity ofQuantity of Imports Demanded...
What of the following statements is not true about group price discrimination? Group of answer choices...
What of the following statements is not true about group price discrimination? Group of answer choices it is less difficult to charge different prices to different consumers if a good is an individually provided service, such as haircuts the group of consumers with more elastic demand (as a given price) will be charged a higher price in theory the good considered must be the same, but in the real world a price discriminating monopolist may need to change the good...
Which of the following statements about the marketing research process is true? Group of answer choices...
Which of the following statements about the marketing research process is true? Group of answer choices The steps in the marketing research process are highly interrelated. Every marketing research project involves all of the research stages. The steps in the Marketing Research process are chronological and independent of one another. Good marketing research entirely eliminates uncertainty.
Identify which of the following statements about cost centers and decentralization is true. Group of answer...
Identify which of the following statements about cost centers and decentralization is true. Group of answer choices Accountability for revenues and expenses exist independently of the ability to make decisions. Decentralized organizations are organized into profit centers. Cost centers are centralized, but profit centers are decentralized. Accountability for revenues and expenses requires the ability to make decisions.
Explain why the following statements are true or false: &n
Explain why the following statements are true or false: A: Exporting a good reduces consumer surplus therefor overall economic welfare decreases. B: Importing a good reduces producer surplus therefore overall economic welfare decreases. C: A tariff reduces imports, increases domestic production and producer surplus therefore overall economic surplus increases. D: Export subsidies increase both consumer and producer surplus thereof they improve overall net economic welfare.
QUESTION 17 A trade quota is O a restriction on the quantity of goods that can be imported O a tax on imports O a tax on exports the restriction of trade through regulations on domestic producers QUESTION 18 A tariff on a good when the world price is lower than the domestic price leads to O tariff revenues that will be lower than under free trade domestic imports that will be higher than under free trade lower domestic consumption...
1.
2) The deadweight loss associated with an import tariff is
smaller than a quota of the same impact because
________________.
a. The government receives revenue from the quota and not the
tariff.
b. Price increases more with a tariff.
c. Quantity decreases more with a quota.
d. The government receives revenue from the tariff and not the
quota.
e. Cannot be determined from the information
3) Will this firm shutdown?
Q = 5
Price: $30
MC = $10
AVC...
(a) Home Market (b) Import Market Price Price Deadweight loss due to the tariffb+d S, S2 D2D Quantity Imports FIGURE 8-5 Effect of Tariff on Welfare The tariff increases the price from PW to pW+ t. As a result, consumer surplus falls by (a + b+ c+ ). Producer surplus rises by area a, and government revenue increases by the area c. Therefore, the net loss in welfare, the deadweight loss to Home, is (b + a), which is measured...
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