3.1 International trade

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Define the term trade war indicated in bold in the text (paragraph [3]).

Define the term trade war indicated in bold in the text (paragraph [3]).

Define the term trade war indicated in bold in the text (paragraph [3]).

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Define the term trade war indicated in bold in the text (paragraph [1])

Define the term trade war indicated in bold in the text (paragraph [1])

Define the term trade war indicated in bold in the text (paragraph [1])

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

State one administrative barrier that Country Z could use in order to restrict imports.

State one administrative barrier that Country Z could use in order to restrict imports.

State one administrative barrier that Country Z could use in order to restrict imports.

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Define the term dumping indicated in bold in the text (paragraph [2]).

Define the term dumping indicated in bold in the text (paragraph [2]).

Define the term dumping indicated in bold in the text (paragraph [2]).

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Define the term quota indicated in bold in the text (paragraph [4]).

Define the term quota indicated in bold in the text (paragraph [4]).

Define the term quota indicated in bold in the text (paragraph [4]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

State two functions of the WTO.

State two functions of the WTO.

State two functions of the WTO.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Define the term tariff indicated in bold in the text (paragraph [2]).

Define the term tariff indicated in bold in the text (paragraph [2]).

Define the term tariff indicated in bold in the text (paragraph [2]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.