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

Author Question: What are the different types of trade barriers? What are the arguments for trade barriers? What are ... (Read 76 times)

jilianpiloj

  • Hero Member
  • *****
  • Posts: 521
What are the different types of trade barriers? What are the arguments for trade barriers? What are the consequences of trade barriers?

Question 2

Which one of the following are the components of aggregate expenditures?
 a. Household consumption, business investment, government spending for goods and services, and net exports.
  b. Household consumption, business investment, government transfer payments, and net exports.
  c. Household consumption, business investment, government spending for goods and services, and exports.
  d. Household consumption, business investment, government spending for goods and services, and saving.
  e. Household consumption, business inventories, government spending for goods and services, and net exports.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sierrahalpin

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

Trade barriers include the use of embargoes, tariffs, quotas, and administrative barriers to limit the supply of foreign products in the domestic economy. Arguments for trade barriers include the infant industry, national security, employment, and cheap foreign labor arguments.

Trade barriers reduce the supply of foreign products, which increases their prices. This makes the domestically produced substitute more price-competitive, which increases the demand for the domestically produced product. As a result, the domestically produced product's price increases and its sales increase. Notice that the results of trade barriers are higher priced products (both foreign and domestically produced) consumers must pay.

Answer to Question 2

a




jilianpiloj

  • Member
  • Posts: 521
Reply 2 on: Jun 30, 2018
Excellent


jamesnevil303

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Thyroid conditions may make getting pregnant impossible.

For a complete list of videos, visit our video library