100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
BUSMHR 2000 Final Exam Review Questions and Correct Answers the Latest Update and Recommended Version $12.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. BUSHMR 2000
  4.  
  5. BUSHMR 2000

Exam (elaborations)

BUSMHR 2000 Final Exam Review Questions and Correct Answers the Latest Update and Recommended Version
 1 view  0 purchase
  • Course
  • BUSHMR 2000
  • Institution
  • BUSHMR 2000

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 levi...

[Show more]

Preview 3 out of 16  pages

Document information

  • October 19, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • busmhr 2000 final exam review questions and correc
  • free trade govt does not attempt to restrict wha

Written for

  • BUSHMR 2000
  • BUSHMR 2000

Seller

avatar-seller
TestTrackers

Reviews received

Content preview

2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!


BUSMHR 2000 Final Exam Review
Questions and Correct Answers the Latest
Update and Recommended Version
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-producer,

anti-consumer

→ results of tariffs


detraction

→ tax levied on exports that drops the price of the product sold in the country


increases govt revenues, protects domestic consumers, may make producers noncompetitive,

pro-consumer, anti-producer

→ results of detractions




1|Page| GradeA+ | 2 0 0 2 5

,2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!

specific tariff

→ A tariff levied as a fixed charge for each unit of a good imported


ad valorem tariff

→ A tariff levied as a proportion of the value of the imported good


subsidy


→ govt payment to domestic producers


help domestic producers compete against low cost foreign imports and gain export markets,

consumers absorb the costs

→ results of subsidies


import quotas

→ impose limit to quantity imported


tariff rate quote


→ tax levied to imported products above quota


voluntary export restraints (VER)

→ impose limits to exports from one country


benefit domestic producers by limiting competition from abroad, increases prices for

consumers

→ results of VER


1|Page| GradeA+ | 2 0 0 2 5

, 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!

local content requirement

→ demands that some fraction of the product be produced domestically


originally implemented to promote development of local industries, favor local industries,

create jobs


→ results of local content requirement


antidumping policies

→ designed to punish foreign firms that engage in dumping


dumping

→ selling goods in a foreign market below their cost of production or below their "fair"
market value


protects domestic producers


→ results of antidumping policies


protect jobs and industries, protect industries important for national security, retaliation to stop

unfair practices, protect consumers from unsafe products, advance foreign policy objectives,

protect human rights

→ why do govts intervene in int'l trade? POLITICAL ARGUMENTS


infant industry, strategic trade policy


→ why do govts intervene in int'l trade? ECONOMIC ARGUMENTS


infant industry


1|Page| GradeA+ | 2 0 0 2 5

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81989 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (0)
  Add to cart