suppose Germany, a large country, imposes a tariff on tuna imports. Before the t

Question

suppose Germany, a large country, imposes a tariff on tuna imports. Before the tariff, all the countries in the world are engaged in free trade in tuna. Determine whether each statement below is true of false, then briefly explain why.

(1). The German consumers pay a higher price for tuna.

(2). The German producers receive a higher price for tuna.

(3). The world price of tuna increases.

(4). The tariff makes Vietnam, a tuna exporting country, worse off.

(5). Vietnamese tuna consumers suffer because of the tariff.

Explanation / Answer

1) True

2) True

3) False

4) True

5) False

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