Order the answer to: True or False: 1. If the imposition of a tariff

Order the answer to: True or False: 1. If…

Question	True or False: 1. If the imposition of a tariff leads to retaliatory tariffs by other countries, domestic employment outside the industry gaining the tariff protection will likely suffer. 2. Exporters in a country would generally be supportive of their country’s imposing import tariffs. 3. From a national defense standpoint, rather than imposing import tariffs, it makes more sense to use foreign supplies in peacetime and perhaps stockpile “insurance” supplies so that large domestic supplies would be available during wars. 4. Like tariffs, quotas directly restrict imports; but the U.S. government does not collect any revenue as the result of an import quota, as it does with tariffs. 5. Nations have sometimes used product standards ostensibly designed to protect consumers against inferior, unsafe, dangerous, or polluting merchandise as a means of restricting foreign competition. 6. Because resources being spent on lobbying efforts could have produced something instead, the measured deadweight loss from tariffs and quotas will likely understate the true deadweight loss to society. 7. Unlike import tariffs and quotas, export subsidies tend to increase efficiency. 8. With subsidies, producers export goods not because their costs are lower than those of a foreign competitor but because their costs have been artificially reduced by government action transferring income from taxpayers to the exporter. 9. Export subsidies lead nations to export products in which they do not have a comparative advantage.
Subject	business-economics

Question

True or False: 1. If the imposition of a tariff leads to retaliatory tariffs by other countries, domestic employment outside the industry gaining the tariff protection will likely suffer. 2. Exporters in a country would generally be supportive of their country’s imposing import tariffs. 3. From a national defense standpoint, rather than imposing import tariffs, it makes more sense to use foreign supplies in peacetime and perhaps stockpile “insurance” supplies so that large domestic supplies would be available during wars. 4. Like tariffs, quotas directly restrict imports; but the U.S. government does not collect any revenue as the result of an import quota, as it does with tariffs. 5. Nations have sometimes used product standards ostensibly designed to protect consumers against inferior, unsafe, dangerous, or polluting merchandise as a means of restricting foreign competition. 6. Because resources being spent on lobbying efforts could have produced something instead, the measured deadweight loss from tariffs and quotas will likely understate the true deadweight loss to society. 7. Unlike import tariffs and quotas, export subsidies tend to increase efficiency. 8. With subsidies, producers export goods not because their costs are lower than those of a foreign competitor but because their costs have been artificially reduced by government action transferring income from taxpayers to the exporter. 9. Export subsidies lead nations to export products in which they do not have a comparative advantage.

Subject

business-economics

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