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- Why did the U.S. government in 1982 provide import quotas as an aid to domestic sugar producers?Which of the following might be considered a cost to protecting domestic jobs in the steel producing industry by blocking steel imports? Less consumer surplus for those who use products made of domestic steel Fewer jobs in industries that use steel Higher prices of steel for domestic industries that use steel All of these might be considered costsDefine World Trade Organization.
- Government standards for products sold in the domestic market can have the effect of protecting domestic producers from foreign competition. True FalseWhat is voluntary export restraint and when is it imposed? What are the benefits of VER? How can it affect the exporting country? How will it affect the country being exported?Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as “unfair” import competition. Is such competition unfair? Do you think that this argument is in the best interest of:(a) the unions, (b) the people they represent, and/or (c) the country as a whole?
- The GATT (General Agreement on Tariffs and Trade) was set up as a successor to the WTO (World Trade Organization). True FalseAre their any copyrights, trademarks, patents, or trade secrets needed to consider for an e-commerce business that sells imported Honduran coffee beans?Nontariff barriers lower prices of both imports and import-competing goods Group of answer choices True False