Log in
Economics
2
answers
0
watching
90
views

Several auto manufacturers are developing electric cars. Firms in the US and other countries are working on advanced batteries needed in these cars. US firms want protection from foreign competition.

Explain two arguments in favor of protecting US battery producers from foreign competition.

Explain two disadvantages of protecting US battery producers from foreign competition.

Watch
2
answers
0
watching
90
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Chika Ilonah
Chika IlonahLv10
29 Sep 2019
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

Which of the following is TRUE regarding international trade?

Select one:

a. Typically, it is belived that when countries trade with one another, ther eare gains in production efficiency.

b. All of these are correct

c. Freedom to trade internationally adds to the consumers' choices available for purhcase

d. Countries often hope that international trade will help raise the standard of living for their citizens

Question 2

Not yet answered

Marked out of 1.00

Flag question

Question text

Which of the following is TRUE regarding why countries trade with one another?

Select one:

a. Countries trade so that they can get products and services that they are not as efficient in making as other countries.

b. Countries often hope that international trade will help their economy grow

c. All of these are correct

d. Countries trade because not all nations have the same resources.

Question 3

Not yet answered

Marked out of 1.00

Flag question

Question text

Revenue tariffs are levied to

Select one:

a. lower exports.

b. protect domestic producers.

c. increase imports.

d. raise money.

Question 4

Not yet answered

Marked out of 1.00

Flag question

Question text

Tariffs and quotas can have all of the following effects EXCEPT

Select one:

a. protecting domestic industry.

b. reducing trade deficits.

c. increasing prices consumers pay for goods.

d. promoting third-world development.

Question 5

Not yet answered

Marked out of 1.00

Flag question

Question text

The United States trade deficit causes

Select one:

a. the value of the dollar to fall in foreign exchange markets.

b. immediate worldwide recessions.

c. increased employment opportunities for all Americans.

d. the value of the dollar to strengthen in foreign exchange markets.

Question 6

Not yet answered

Marked out of 1.00

Flag question

Question text

Which of the following is true regarding the relationship of international trade and competition?

Select one:

a. International competition, like competition in general, can have effects on the price levels of goods.

b. When countries trade with one another, there is often increased competition among firms offering the same good or service.

c. All of these are correct.

d. When tariffs increase, domestic producers usually have fewer international competitors.

2. Analyze the differences and similarities among firms for two different market structures: Monopoly and Monopolistic Competition. Clearly demonstrate how both types of firms determine the quantity (Q) to produce that maximizes profit.

Contrast the long-run profit levels that prevail in Monopoly with those of Monopolistic Competition, and explain clearly why the differences occur.

How do the long-run end-results of Monopoly and Monopolistic Competition compare with the end-results of perfect competition, in terms of the impacts on efficient resource used in the overall economy?

Why do economists make a distinction between “natural monopoly” and “artificial monopoly”? In your answer, be sure to identify how these types of monopoly differ from each other, and why government responses (especially in the US) to these types of monopoly are quite divergent.

Provide an example of an industry that you think is either a monopoly or is monopolistically competitive, and provide reasons as to why you think the category fits that industry.

Question 1: Answer the following MC questions...

a). Samuel F.B. Morse patented the (5 points)
A. telegraph
B. automobile
C. audio recorder
D. radio transmitter
b). Your friend wants to open a clothing shop. A necessary capital resource is a (5 points)
A. place to open the shop
B. knowledgeable fashion manager
C. license to conduct business
D.highway billboard for advertising
c). Jessica is a violinist who believes she can extend her method of learning music to early childhood education. She opens a preschool in her hometown, using her expertise to form an arts-based program. What factor of production is this? (5 points)
A. Capital
B. Entrepreneurship
C. Labor
D. Land
d). Your friend hopes to expand her business to multiple locations. It would be best for her to create a (5 points)
A. limited liability company
B. sole proprietorship
C. corporation
D. partnership
e). Root and Vine is a gardening collective and local delivery service started by two friends. Their clientele has grown, and they want to expand. The owners like the idea of protecting their personal property, but they want to maintain control of the business. Which type of organization might best suit their growth? (5 points)
A. Sole proprietorship
B. Partnership
C. Limited liability company
D. Corporation
f). An oligopoly is a market for a good or service that (5 points)
A. has few competitive firms
B. is perfectly competitive
C. has one buyer
D. has one seller
g). The greatest goal in advertising is to convince us (5 points)
A. "wants" are unnecessary
B. the firm has the best price
C. a particular product is a "need"
D. the product is the same as other firm's products
h). "Don't be like John, who had no health insurance when he needed emergency surgery. We make health insurance easy and affordable." This advertisement targets your (5 points)
A. fears
B. rituals
C. emotions
D. social values
i). Why do monopolies and oligarchies benefit producers over consumers? (5 points)
A. Companies control price through demand.
B. Competition is driven by factors other than price.
C. Demand influences production more when competition is less.
D. Few producers can generally control prices.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in