Which of these is most likely the US government’s aim in taxing imported goods?

to protect domestic business

to decrease international trade

to end reliance on foreign goods

to make the US markets less deisrable

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Shree Harini VLv5

19 Aug 2020

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according to the U.S. census bureau, in July 2006 the US exported aircraft worth $1 billion to China and imported aircraft worth$19,000 from china. During the same month, the US imported $83million worth of men's pants from china, and the US exported $8000worth of men's pants to china. Based only on this information along with what you have learned about how trade is determined by comparative advantage.

a) which country most likely has a comparative advantage in aircraft production?
China/US/No way to know

b)which country most likely has a comparative advantage in the production of men's pants?
China/US/No way to know

c)which country most likely has the absolute advantage in aircraft production?
China/US/No way to know

d)which country most likely has the absolute advantage in the production of men's pants?
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Are federal budget deficits related to trade deficits?

A. Yes. If U.S. consumers buy too many imported goods they don't have money to save and a budget deficit results.

B. No. The budget deficit is entirely a domestic matter while the trade deficit only affects U.S. citizens who travel abroad.

C. Yes. As deficit spending goes up, it is likely government borrowing will, too. Then foreign residents who lend funds to the U.S. government have less to spend on our goods, so U.S. exports will fall.

D. Yes, but only if the quality of U.S. goods and services is deteriorating.

olivegnu327

Participate in a discussion with your classmates regarding how international trade affects our lives. You have a big stake in the politics of free trade versus international trade protections. As a buyer, your self-interest is hurt by tariffs and quotas on imported goods. Although, as an employee, your self-interest might be hurt by offshoring, or by freer access to U.S. markets by foreign producers. Discuss and share the trade policies that best serve your self-interests, and those that best serve the social interest. Please include the concepts and arguments pertaining to free trade versus trade protections.