AGBM quiz 3 questions with verified solutions (latest update) already passed

AGBM quiz 3 questions with verified solutions
(latest update) already passed
1. If the world price > Export the surplus (Supply exports)
do- mestic price, -export supply curve
then there is an
incentive to...
Import to cover the shortage (Demand imports)
2. If the world price < -import demand curves
do- mestic price

3. Countries in isolation NO TRADE

4. If the U.S. price There would be more demanded at a lower price.
seems high

5. The U.S. has an ID = QD - QS
"import demand"
curve
There would be more supplied at a higher price.
6. The Brazil price
seems low
ES = QS - QD
7. Brazil has an
"export supply"
curve

8. Both Tariffs and Quotas -Lead to a decline in consumption
-Lead to a decline in imports
-Lead to an increase in domestic production
-Indirect ettects: help protected producers; harm exporters

9. The Major -Taritts generate revenue
Difference -Quotas do not provide for any government revenue (Does any
between Tariffs party get the revenue?)
and Quotas
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, AGBM quiz 3 questions with verified solutions
(latest update) already passed
10. Tariffs an excise tax on imports

§Revenue taritt (used mainly for revenue)
§Protective taritt (used mainly to protect sectors)




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