Question: Which statement is correct about prohibitive tariff a. Prohibitive tariff cannot completely eliminate imports from foreign country b. It is not the most extreme form

Which statement is correct about prohibitive tariff

a. Prohibitive tariff cannot completely eliminate imports from foreign country

b. It is not the most extreme form of protective tariff

c. Prohibitive tariff would increase welfare if the tariff imposing country is a small open economy

d. In a 2-goods and 2-country model, prohibitive tariff would eliminate both exports and imports

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

D Question 4 Which statement is correct about prohibitive tariff 0 It is not the most extreme form of protective tariff O Prohibitive tariff would increase welfare if the tariff imposing country is a...

Q:

4. Which statement is correct about prohibitive tariff a. It is not the most extreme form ojorotective tariff b. In a 2-goods and 2-country model, prohibitive tariff would eliminate both exports and...

Q:

(31-39) Choose a correct answer for each question and clearly mark it . Then, explain why your answer choice is true. You should explain why an incorrect answer is incorrect (at least one of them)....

Q:

1. Statement 1: Even after selecting a finalist, an organization might still be hesitant to commit. Point-scoring analysis, potential buyers "test drive" a software package to further evaluate the...

Q:

Help me answer the following and explain. Also please do follow the page numbers for easy format (page 1 to 14) 16.1 Multiple Choice Encircle the letter that corresponds to your answer. 1. PAS/IAS 40...

Q:

1. Choose correct or incorrect sentences. Expense of private non-for-profit organization is reported by 'function classification'. Detailed statement of nature and function is reported in the notes...

Q:

tax STATEMENT I. Margin fee is a tax. STATEMENT II. Custom's duty is a tax. O a. 1st statement is correct; 2nd statement is incorrect. O b. 1st statement is incorrect; 2nd statement is correct. O C....

Q:

TAX STATEMENT I. There can be double taxation in the Philippines. STATEMENT II. Double taxation is illegal if it violates the uniformity of taxation. O a. 1st statement is correct; 2nd statement is...

Q:

Non-For Profit Accounting 1. Choose correct or incorrect sentences. Expense of private non-for-profit organization is reported by function classification. Detailed statement of nature and function is...

Q:

Choose the correct/best answer. Please do follow the page numbering ,thank you. Statement I: If an actuarial valuation has not been prepared at the date of the financial statements, the most recent...

Q:

Dzifa limited imported recently during the power outages 650 units of solar panel sets from Brixton in the UK with measurements of 11m x 7m x 15m through the airport. unit selling price was GBP...

Q:

Explain the relationships among the initial assessed control risk, tests of controls and substantive tests of transactions for cash receipts, and the tests of details of cash balances. Discuss.

Q:

Cache is a form of memory that allows for quick retrieval of frequently used data. Group of answer choices False True

Q:

do you see collaboration software like teams ever being a substitute for e-mail?

Q:

2. How can the expectations we have of a person contribute to the image we have of him / her? Give some examples from your own everyday life.

Q:

9. Discuss the statement: If the actors mainly act on the basis of a view of human-ity as driven by self-interest, and incorporate this idea into their models, they may end up with their premises...

Q:

5. What does it mean when we say the evaluation comes before the presenta-tion?.