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You are watching: A lower tariff on imported steel would most likely benefit

Concern number 10 : Option "a" is the appropriate answer bereason once import tariff decreased the price of steel in residential market( wbelow import is taken place) will reduced so it will certainly benefit to the domestic consumers immediately. Inquiry number 11 : Optio…View the complete answer
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Transcribed picture text: QUESTION 10 A reduction in the tariff on imported steel would certainly a lot of most likely benefit O a, the residential consumers of steel. b. international producers at the price of domestic consumers. Oc workers in the steel sector. d. the domestic producers of steel. QUESTION 11 When both exports and imports are thought about, the major benefit of international trade is that it allows us to: a sample foreign products that many type of of us would certainly otherwise never before see. share our innovation and also performance via less-arisen countries that would certainly otherwise never have the opportunity b to observe modem goods and also services. c. consume a bigger, even more varied amount of products and services at reduced prices than would otherwise prevail. d. keep work for employees that would certainly otherwise have actually little to carry out. QUESTION 12 Assume that the UNITED STATE can create either 10 million cell phones or 20 million photo frames and also that Canada can develop either 2 million cell phones or 6 million photo frames. Based on this information, which of the following is true? a. Both countries might benefit if the U.S. traded picture frames to Canada for cell phones. b. Canada could get from profession however the UNITED STATE might not c. Both countries can benefit if the UNITED STATE traded cell phones to Canada for image frames. od. The UNITED STATE could get from profession however Canada can not QUESTION 13 1 points (EX Suppose the Swiss government subsidized its watch-making sector, allowing Swiss producers to underoffer foreign watch producers. The law of comparative advantage indicates that watch-importing countries would finest take benefit of the Swiss subsidization plan by gladly accepting the subsidy of the Swiss federal government, making the appropriate adjustment for the resources temporarily displaced from the residential watch-making sector, setting a declining quota on the import of Swiss watches such that the nation's domestic watch-making sector would certainly proceed to thrive at the exact same rate as the remainder of the economy. c. setting a tariff such that the prices of Swiss and domestic watches to the consumer are equal. d.setting a tarif high sufficient to just offset the subsidy granted to the Swiss Watch-making market a b. QUESTION 14 If one country can create better quantities of an excellent than an additional nation, it has actually a(n) a comparative benefit, yet an absolute disbenefit in producing that great. b. absolute advantage in creating that great. c. absolute benefit, but a comparative disbenefit in producing that excellent. d d. comparative advantage in producing that good. QUESTION 15 A new UNITED STATE tariff on Mexican avocados would certainly be most likely to: a raise the price of avocados to UNITED STATE consumers. b. increase UNITED STATE consumption of domestically produced avocados. c. boost complete U.S. intake of avocados. d. execute both a. and also b.