7. By the mid-1930's, governments all over the world entered the era of international trade. Since...
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7. By the mid-1930's, governments all over the world entered the era of international trade. Since 2017, the U.S. and other countries have moved closer to the era which, in 1930, saw the passage and of a. Reciprocity; restriction; The Smoot-Hawley Tariff Act; The Great Depression Restriction; reciprocity; NAFTA; job losses in the United States. < Revenue; restriction; Article One, Section Eight, Clause three of the Constitution; as expected, a decrease in total revenue. d. Reciprocity; restriction; the 16 amendment; World War II e. None of the above. 8. Based on what we know about the economic impact of tariffs and quotas, which of the gamers some conditional support from economists? a. When concerns over human rights and the environment are used to increase tariffs. & When a country becomes convinced that its trading partners are engaging in dumping or currency manipulation. c. When the value of the dollar fluctuates compared to foreign currency. d. When a government has decided that it needs to eliminate a balance of trade deficit with another nation. e. When, with temporary protection, an infant industry could emerge and show long-run comparative advantages over other countries. 9. Historically, many people have argued that tariffs and quotas should be used to prevent other nations from engaging in predatory pricing. For economists, this argument is largely flawed because: a. Predatory pricing leads to fewer companies over time; higher prices and monopoly profits for the successful predator. b. Predatory pricing may lead to large discounts for consumers in the short run, but the elimination of job opportunities in the long run as domestic suppliers close. c. Predatory pricing has been proven to be an inefficient practice since the "predators" must be willing to incur initial losses and do not have the power to control markets indefinitely. Predatory pricing leads to companies with no comparative advantage being dominant in the markets they pursue. 7. By the mid-1930's, governments all over the world entered the era of international trade. Since 2017, the U.S. and other countries have moved closer to the era which, in 1930, saw the passage and of a. Reciprocity; restriction; The Smoot-Hawley Tariff Act; The Great Depression Restriction; reciprocity; NAFTA; job losses in the United States. < Revenue; restriction; Article One, Section Eight, Clause three of the Constitution; as expected, a decrease in total revenue. d. Reciprocity; restriction; the 16 amendment; World War II e. None of the above. 8. Based on what we know about the economic impact of tariffs and quotas, which of the gamers some conditional support from economists? a. When concerns over human rights and the environment are used to increase tariffs. & When a country becomes convinced that its trading partners are engaging in dumping or currency manipulation. c. When the value of the dollar fluctuates compared to foreign currency. d. When a government has decided that it needs to eliminate a balance of trade deficit with another nation. e. When, with temporary protection, an infant industry could emerge and show long-run comparative advantages over other countries. 9. Historically, many people have argued that tariffs and quotas should be used to prevent other nations from engaging in predatory pricing. For economists, this argument is largely flawed because: a. Predatory pricing leads to fewer companies over time; higher prices and monopoly profits for the successful predator. b. Predatory pricing may lead to large discounts for consumers in the short run, but the elimination of job opportunities in the long run as domestic suppliers close. c. Predatory pricing has been proven to be an inefficient practice since the "predators" must be willing to incur initial losses and do not have the power to control markets indefinitely. Predatory pricing leads to companies with no comparative advantage being dominant in the markets they pursue.
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ANSWER The correct answer for the first question is a Reciprocity restriction The SmootHawley Tariff Act The Great Depression The SmootHawley Tariff Act was passed in 1930 during the era of reciprocit... View the full answer
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