Question 1

Why do governments generally prefer to impose tariffs over quotas?

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Question 2

Write an essay on the gains from free international trade.

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Question 3

Using a demand and supply diagram,illustrate the effects of a tariff on imports.In particular,show the effects on domestic production,domestic consumption,imports,prices,consumer welfare,producer welfare,government revenue,and overall economic welfare.

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Question 4

Although current U.S.tariffs are quite low on average,tariffs remain high for some products.

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While the average U.S. tariff is low, some products still have high tariffs, such as specific agricultural products and vehicles.

Question 5

Tariffs can never raise a country's standard of living.True or false? Explain carefully.

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Question 6

Describe with a graph the effects of an export tariff z. Include in your graph the effect on local prices,exports and local production,as well as the changes in consumer and producer surplus and corresponding changes in deadweight s.

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Quiz 6: Tariffs