Question

Suppose the United States imposes a tariff or quota on sugar imports. For each of the following, enter the letter G if it will gain from the tariff or quota or enter the letter L if it will lose from the tariff or quota. Domestic sugar producers and their workers ___ Consumers _ Industries that use sugar and their workers _ 9) ___ are goods and services produced domestically but sold to other countries. _ are goods and services bought domestically but produced in other countries. _________ are taxes imposed by a government on imports of a good into a country. a, Tariffs b, Exports c, Quotas d, Imports 10) Which of the following are non-tariff barriers to trade? National security grounds. Health and safety requirements. Embargoes. All of the above.

          Suppose the United States imposes a tariff or quota on sugar imports. For each of the following, enter the letter G if it will gain from the tariff or quota or enter the letter L if it will lose from the tariff or quota.

Domestic sugar producers and their workers _______
Consumers _______
Industries that use sugar and their workers _______

9) _______________ are goods and services produced domestically but sold to other countries. _______________ are goods and services bought domestically but produced in other countries. _______________ are taxes imposed by a government on imports of a good into a country.

a, Tariffs
b, Exports
c, Quotas
d, Imports

10) Which of the following are non-tariff barriers to trade? National security grounds. Health and safety requirements. Embargoes. All of the above.

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Added by Tom P.

Principles of Economics

Gregory Mankiw 8th Edition

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Solved by Expert Azat Nurmukhametov

09/25/2022

Step 1

Step 1: Domestic sugar producers and their workers will **gain** from the tariff or quota as it will increase the price of sugar in the market, benefiting domestic producers and their workers. Show more…

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Suppose the United States imposes a tariff or quota on sugar imports. For each of the following, enter the letter G if it will gain from the tariff or quota or enter the letter L if it will lose from the tariff or quota. Domestic sugar producers and their workers _______ Consumers _______ Industries that use sugar and their workers _______ 9) _______________ are goods and services produced domestically but sold to other countries. _______________ are goods and services bought domestically but produced in other countries. _______________ are taxes imposed by a government on imports of a good into a country. a, Tariffs b, Exports c, Quotas d, Imports 10) Which of the following are non-tariff barriers to trade? National security grounds. Health and safety requirements. Embargoes. All of the above.

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Transcript

00:01 Hello, it's given that the us imposes a tariff or quota on sugar imports and tariff means tariff or quota they will both increase the price in the market of sugar.

00:22 So now let's put letters g or l if they gain or lose from the tariff or quota.

00:32 So let's start with first part.

00:39 Domestic sugar producers and their workers.

00:43 Of course it's good for domestic producers when price is higher.

00:48 For producers it's always good and it's good for their workers as well.

00:54 So we have gain here.

00:57 The second, consumers.

01:02 For consumers, any increase in the price is a bad.

01:06 Bad news so they will lose from this tariff.

01:14 3.

01:14 Industries that use sugar and their workers.

01:19 So industries that use sugar, they basically buy this sugar and when price increases it's also bad for them.

01:30 So here we have three answers, gain, lose and lose.

01:35 Okay, now this was question 8.

01:38 Now question 9.

01:49 It's about import and export.

01:52 Which one? some goods are produced domestically, but they sold to other countries abroad, to foreign countries.

02:04 This is, we call this exports.

02:08 So the first answer is exports...

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