Homework Clinic
Social Science Clinic => Business => Management => Topic started by: storky111 on Jul 7, 2018
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Which of the following is most likely NOT one of the goals of a firm's employee orientation program?
A) making new employees feel like part of a team
B) helping new employees become socialized into the firm
C) assisting new employees in selecting the best labor union
D) teaching new employees about the firm's history and strategies
Question 2
Import tariffs are a principle instrument of trade intervention. In a short essay, briefly describe the five main types of import tariffs, and discuss the main consequences of government intervention.
What will be an ideal response?
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Answer to Question 1
Answer: C
Answer to Question 2
The most common type of tariff is the import tariff, a tax levied on imported products. Import tariffs are usually ad valoremthat is, they are assessed as a percentage of the value of the imported product. Or a government may impose a specific tariffa flat fee or fixed amount per unit of the imported productbased on weight, volume, or surface area, such as barrels of oil or square meters of fabric. A revenue tariff is intended to raise money for the government. A tariff on cigarette imports, for example, produces a steady flow of revenue. A protective tariff aims to protect domestic industries from foreign competition. A prohibitive tariff is one so high that no one can import any of the items.
One way of evaluating the effects of government intervention is to examine each nation's level of economic freedom, defined as the absence of government coercion or constraint on the production, distribution, or consumption of goods and services beyond the extent necessary for citizens to protect and maintain liberty itself. In other words, people are free to work, produce, consume, and invest in the ways they feel are most productive.
Government intervention in international trade has several consequences. Economic freedom flourishes when government supports the institutions necessary for that freedom and provides an appropriate level of intervention and regulation. In 2010, for the first time, the United States fell into the second highest category, due to increased U.S. federal government intervention in that nation's economy, following the recent global financial crisis.
Government intervention and trade barriers raise ethical concerns for developing economies. For example, United States import tariffs on clothing and shoes often exceed 20 percent. In 2008, duties on imported clothing alone produced 10 billion in revenue for the U.S. government. The tariffs hurt poor countries like Bangladesh, Pakistan, India, and several nations in Africa, where clothing and shoe exporters are concentrated. The tariffs that confront such nations are often several times those faced by the richest countries.
Government intervention can also offset harmful effects. For example, trade barriers can create or protect jobs. Subsidies can help counterbalance harmful consequences that disproportionately affect the poor, as when a government provides subsidies aimed at retraining unemployed workers.
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Correct answers!
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Great! Please up vote :D