Question 1 \"The potentially valid arguments for tariff protection are also the

Question

Question 1

"The potentially valid arguments for tariff protection are also the most easily abused. " What are those arguments? Why are they susceptible to abuse? Evaluate the use of artificial trade barriers, such as tariffs and import quotas, as a means of achieving and maintaining full employment.

Question 2

What is offshoring of white-collar service jobs, and how does it relate to international trade? Why has it recently increased? Why do you think more than half of all of the offshored jobs have gone to India?

Question 3

Evaluate the following statements: Is the statement true or false? Why?

Explanation / Answer

question 3 :

answer:

(a) TRUE

This statement is true. Protective tariffs increase domestic prices of imported goods, decreasing quantity of demand for these products, limiting import volumes, and causing real incomes in producing countries to fall. This decline in incomes will cause foreigners to demand fewer goods and services, including exports from the nation that originally imposed the tariff. Other countries may also retaliate, decreasing export volumes of the tariff-levying nation even further.

(b)TRUE

This statement is true. Extensive protective tariffs dampen every trading country

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