Busmhr 2000 final exam Study guides, Class notes & Summaries

free trade - answer-govt does not attempt to restrict what its citizens can buy from another country or sell to another country tariffs, subsidies, import quotas, voluntary export restraints, local content requirement, antidumping policies - answer-6 instruments of trade policy tariff - answer-a tax levied on imports that effectively raises the cost of imported products relative to domestic products increases govt revenues, protects domestic producers from foreign competitors, pro-produ...

benefit domestic producers by limiting competition from abroad, increases prices for consumers - ️️results of VER local content requirement - ️️demands that some fraction of the product be produced domestically help domestic producers compete against low cost foreign imports and gain export markets, consumers absorb the costs - ️️results of subsidies tariffs, subsidies, import quotas, voluntary export restraints, local content requirement, antidumping policies - ️️6 instru...

CH 5 - answer-Theories of International Trade and Investment National industrial policy - answer-A proactive economic development plan a government initiates to build or strengthen a particular industry. Mercantilism - answer-The belief that national prosperity is the result of a positive balance of trade, achieved by maximizing exports and minimizing imports. Internalization theory - answer-An explanation of the process by which firms acquire and retain one or more value-chain activiti...

free trade → -:- govt does not attempt to restrict what its citizens can buy from another country or sell to another country tariffs, subsidies, import quotas, voluntary export restraints, local content requirement, antidumping policies → -:- 6 instruments of trade policy tariff → -:- a tax levied on imports that effectively raises the cost of imported products relative to domestic products increases govt revenues, protects domestic producers from foreign competitors, pro-produ...

free trade - answer-government does not attempt to restrict what citizens can buy from another country or what they can sell to another country tariffs - answer-A tax on imports that effectively raises the cost of imported products relative to domestic products special tariffs - answer-levied as a fixed charge for each unit of a good imported Ad Valorem Tariff - answer-can increase government revenues, provide protection to domestic producers against foreign competitors by increasing th...

free trade → -:- government does not attempt to restrict what citizens can buy from another country or what they can sell to another country tariffs → -:- A tax on imports that effectively raises the cost of imported products relative to domestic products special tariffs → -:- levied as a fixed charge for each unit of a good imported Ad Valorem Tariff → -:- can increase government revenues, provide protection to domestic producers against foreign competitors by increasing th...

Theories of International Trade and Investment National industrial policy → -:- A proactive economic development plan a government initiates to build or strengthen a particular industry. Mercantilism → -:- The belief that national prosperity is the result of a positive balance of trade, achieved by maximizing exports and minimizing imports. Internalization theory → -:- An explanation of the process by which firms acquire and retain one or more value-chain activities inside the ...