This topic contains a solution. Click here to go to the answer

Author Question: Which of the following would be expected if the tariff on foreign-produced automobiles was ... (Read 61 times)

danielfitts88

  • Hero Member
  • *****
  • Posts: 535
Which of the following would be expected if the tariff on foreign-produced automobiles was increased?
 a. The domestic price of automobiles would fall.
 b. The supply of foreign automobiles to the domestic market would be reduced, causing auto prices to rise.
 c. The number of unemployed workers in the domestic automobile industry would rise.
 d. The demand for foreign-produced automobiles would increase, causing the price of automobiles to increase in other nations.

Question 2

One of the negative impacts of export subsidy is that:
 a. the price of the domestic good increases in the world market.
  b. the domestic supply of the goods increases more than proportionately than increase in demand.
  c. the domestic cost of production of the exportable increase.
  d. it results in a general deflation and hence the domestic producers incur losses.
  e. the domestic consumers are harmed as the subsidies are financed by taxing them.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

amynguyen1221

  • Sr. Member
  • ****
  • Posts: 355
Answer to Question 1

b

Answer to Question 2

e




danielfitts88

  • Member
  • Posts: 535
Reply 2 on: Jun 30, 2018
Wow, this really help


komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

For a complete list of videos, visit our video library