In the short-run, tariffs and quotas help protect domestic jobs price wars foreign employment consumer choice. An increase in the value of currency is called depreciation appreciation trade surplus exchange rate. When a country allows for trade and becomes an exporter of the good, which of the following would NOT be true? The price paid by the domestic consumer of the good increases The price received by the domestic producers of the good increases The losses of domestic consumers exceed the gains of domestic producers The gains of domestic producers exceed the losses of domestic consumers. The US is importing down pillows. The world price of these pillows is $25. the US imposes a $10 tariff on pillows. The US is a price taker in the pillow market. As a result of the tariff... US consumers of pillows will gain and the US producers will lose US consumers of pillows will lose and US producers will gain US consumers of pillows will gain and US producers will gain US consumers of pillows will lose and US producers will lose. Which of the following is an argument for restricting trade? Trade restrictions make Americans better off Trade restrictions increase economic efficiency Trade restrictions are necessary for economic growth Trade restrictions are applied by everyone.
