1. Who benefits from the government policies to (a) promote production of ethanol and (b) place tariff barriers on imports of sugar cane? Who suffers as a result of these policies? ANS: Benefiters in promoting production of ethanol: -Corn producers. They get subsidies from the government and get a free way of marketing from the government. The government promotes consumption of ethanol‚ ethanol is produced out of corn‚ so indirect marketing for corn farmers that will get more demand out of policies
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Will tire tariffs launch a trade dispute ? On September 11‚ 2009‚ the Obama administration announced its decision to impose punitive tariffs on low-end tire imports from China under a statute known as Section 421 of the Trade Act of 1974. In addition to an existing 4 percent import duty‚ tariffs were increased by rates of 35 percent for the first year‚ 30 percent the second year‚ and 25 percent the third year because imports of Chinese tires were deemed to be excessive. China’s government responded
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1.0 INTRODUCTION There are two basic ways to provide protection to domestic import-competing industries; a tariff or a quota. The choice between one or the other is likely to depend on several different concerns. One concern is the revenue effects. A tariff has an immediate advantage for governments in that it will automatically generate tariff revenue (assuming the tariff is not prohibitive). Quotas may or may not generate revenue depending on how the quota is administered. If a quota is administered
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business. Answer Selected Answer: Industrial Revolution Correct Answer: Entrepreneurship Era . Question 7 .3 out of 3 points Correct In 1995‚ a renegotiation of the General Agreement on Tariffs and Trade (GATT) took bold steps to lower tariffs and to reduce trade restrictions. A tariff is a Answer Selected Answer: tax on imports. Correct Answer: tax on imports. .
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NON TARIFF BARRIERS What are non tariff barriers? Non- tariff barriers are broadly defined as any impediment to trade other than tariffs. Non tariff barriers can be classified into two groups; Direct and Indirect. (a)Direct Barriers are barriers that specifically limit import of goods or services. Eg: Embargoes and quotas EMBARGOES: Embargoes are the most restrictive of the direct non tariff barriers. They are either a complete ban on trade with a foreign nation or a ban on sales or transfer
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| | | | | Selected Answer: | e-commerce. | Correct Answer: | e-commerce. | | | | | * Question 7 5 out of 5 points | | | In 1995‚ a renegotiation of the General Agreement on Tariffs and Trade (GATT) took bold steps to lower tariffs and to reduce trade restrictions. A tariff is a:Answer | | | | | Selected Answer: | tax on imports. | Correct Answer: | tax on imports. | | | | | * Question 8 5 out
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It is clear that there were a number of reasons that caused the Tories to loose the 1906 election. One reason was the tariff reform act but there were many others such as the Boer war which went on from 1899 to 1902. The Boer War took place In South Africa under the command of the then Prime minister Lord Salisbury and was mainly started to gain access to South Africa’s cheap raw materials‚ especially gold and to add another colony to the empire as the conservatives who were
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The General Agreement on Tariffs and Trade (GATT) 1947 functioned as a means of adjusting trade relationships between countries trying to improve their economies. Contracting parties to this agreement have been bound by it to treat other contracting parties on an equal and reciprocal basis as well as to curb protectionism. At the start of 1995‚ the GATT has been succeeded by the World Trade Organization (WTO) and has since been the most important development in international trade. However‚ it is
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Tariff and non-tariff barriers Tariff and non-tariff effect global financing operations by having an impact on whether countries will build and invest in companies in the home country. If an organization wants to build a company that imports raw material that has a tariff on it‚ it would make the product considerably more expensive to produce and export. Tariffs do benefit the government by increasing the revenue and also benefit home-based businesses by decreasing foreign competition. The tariff
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administration passed the US Smoot-Hawley Tariff Act of 1930. This act attempted to limit the importing of goods to the US by charging high tariff rates on those goods. Other countries responded by charging high tariffs on goods imported into their county. The combination of the Smoot-Hawley Act and other country’s responses slowed world trade dramatically and showed how interrelated all of the world’s economies had become. Then‚ in 1947 the General Agreement on Tariffs and Trade (GATT) was created to
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