Trump Tariffs US President, Donald Trump has been imposing tariffs on China, Mexico and Canada. China has retaliated by imposing tariffs on certain US agriculture products. Tariffs is a very blunt measure to raise revenue for the government. However, tariffs will have negative impact on the econo...
If imposing tariffs and quotas harms consumers, why don't consumers vigorously oppose the implementation of these protectionist policies? What are the two reasons for the government to intervene in a market? Why should a marketer be aware of competitors' prices? Explain how predatory pricing could ...
Explain briefly why the government should avoid imposing tax increases on luxury goods. In the long-run, why is aggregate supply insensitive to the price level? Explain why less-developed countries must impose higher tariffs. What are political reasons for import tariffs, and why do some governme...
Explain why total benefits increase at a decreasing rate and what this means for the marginal benifits as output goes up. If politicians decide to proceed with trade protectionism, why might economists advise them to go with tariffs instead of quotas? Offer at ...