Answer the following questions with specific explanations

D Question 4 A small, open economy decides to replace most of its existing tariffs with quotas that result in identical volumes of imports. As a result, its welfare will decrease or remain the same O definitely increase O increase or remain the same O definitely decrease D Question 5 A large economy is looking to impose tariffs against one its trading partners. Of the key industries targeted, the proposed tariff on imported wine is 20%, and the proposed tariff on imported textile is 15%. Assuming the levels of these tariffs are determined so as to maximize home welfare, which industry has a larger elasticity of export supply? O The elasticities are identical between the two industries O More inform O Wine O Textile D Question 6 As part of a trade war, country A agrees to introduces a quota on cars imported from country B. Country A can then expect the price of cars imported from country B to increase, and their quality to decrease O the price and the quality of cars imported from country B to decrease O the price and the quality of cars imported from country B to increase O the price of cars imported from country B to decrease, and their quality to remain the same