U.S citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because
A) both countries have suffered major financial crises due to a severe trade imbalance.
B) both these countries have imposed tariffs on these goods to protect their domestic markets.
C) both countries have imposed limits on the quantity of these goods leaving the domestic market.
D) both products are considered essentials and as a result are more heavily taxed.
E) previously these products were purchased at a lower price from nations that currently are under governmental sanctions.
Correct Answer:
Verified
Q14: According to economists, protectionism
A)guards a nation's political
Q15: The practice of shielding one or more
Q16: Protectionism refers to
A)the practice of purchasing products
Q17: Beginning January 1, 2005 China lifted the
Q18: Government taxes on goods or services entering
Q20: Dell established its company primarily with direct
Q21: The world's largest manufacturer of peppermint candy
Q22: CAFTA-DR, a comprehensive free trade agreement between
Q23: Which of the following statements about the
Q103: Which of the following statements about the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents