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1. Explain what the terms of trade are in international trade.

2. What is the exchange rate in international trade?

3. What is the difference between a tariff and an import quota?

4. Do you believe the United States should impose international trade restrictions and why do you believe this?

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Joshua Stredder
Joshua StredderLv10
28 Sep 2019

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Related questions

A. In general, is a trade good for all involved?

B. Identify two currently active trade agreements the United States is involved with. Do you consider them successful or not?

C. Define Tariffs, Import Quotas, Non-Tariff Barriers, Voluntary Export Restrictions, and Export Subsidies.

D. Do they help or hinder global trade? Why?

1. A government limit on the quantity or total value of imports of a specific product is known as which of the following?

A.An import quota

B.An export subsidy

C.A protective tariff

D.An excise tax

Ā 

2. Suppose there is a policy debate over whether the United States should impose trade restrictions on imported semiconductors:

A congresswoman from a state with several semiconductor factories explains that it is necessary to impose trade restrictions, such as a tariff, on the semiconductor industry to protect workers in the domestic semiconductor industry. The congresswoman claims that without trade protection, there will be layoffs, causing many U.S. workers in the semiconductor industry to be unemployed.

Which of the following justifications is the congresswoman using to argue for the trade restriction on semiconductors?

A.National-security argument

B.Unfair-competition argument

C.Saving-domestic-jobs argument

D.Using-protection-as-a-bargaining-chip argument

E.Infant-industry argument

International Trade: Think of the importance of trade in your life. Look simply at what you're wearing today. When you shop, do you look for the "Made in the USA" label? Perhaps you believe we might be better off as a nation economically if we produced more goods in the attempt to become more self-supportive. Perhaps you believe we should increase the amount of goods traded internationally. Opinions and speculation vary as much as the number of economists that predict economic climate. Having said this, as a nation, simply put, we trade. And with that activity come many rules and regulations to try and ensure our best interests are protected. Based on this; 1. How is international trade regulated? Log on to www.wto.org and click the "Trade Topics" tab to learn about the scope of trade agreements and trade controversies. What is involved in "trade agreements"? 2. Log on to www.bea.gov and view the "international" tab, then "Trade in Goods and Services." What is the current balance of trade for the United States? Has this balance been increasing or decreasing? Based on the current economic conditions, how do you think this balance will move in the near future, and why? (Define the overall subject of each question. Cited at least three (3) resources from this week's materials.

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