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MGEC82H3 Lecture Notes - Lecture 6: Protective Tariff, Tariffs In United States History, Tariff

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f511
11 Dec 2021
School
UTSC
Department
Economics for Management Studies
Course
MGEC82H3
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Related Questions

Excise taxes on imported goods that help shield domestic producers of the good are called

A. protective tariffs.

B. import quotas.

C. revenue tariffs.

D. voluntary export restrictions.

The effective rate of protection on a product will be less than the nominal tariff rate if?

the tariff on the good is less than the tariff on imported inputs used to produce the good.

a = 1

the tariff on the good is greater than than the tariff on imported inputs used to produce the good.

the good is a primary product.

3. If a small country wants to protect its domestic producers frommore efficient foreign competition by imposing an import tariff,will it come out ahead?
4. Do consumers lose when a large country protects it's lessefficient producers from foreign competition by imposing a tariff ?