Jul 08, 2017 Others

Explain how governments restrict international trade and who benefits as well as who loses from the restrictions.

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ECO 202 WK 4: Governments Restricts International Trade, Benefits and Loses

Instructions:

Submit a 3-4 page paper that addresses the following questions. Be sure to use references within the paper to support your answers. Show work for all calculations.

  1. Explain how governments restrict international trade and who benefits as well as who loses from the restrictions.
  2. Because wage rates are so low in Africa, why don`t Microsoft, Cisco and other major corporations close down their American operations and move to Africa?
  3. Consider the foreign exchange market for Japanese Yen and Dollars. Assume a market where the U.S. dollars are on the x axis as shown in the background material. Indicate whether the dollar would APPRECIATE or DEPRECIATE if the following events occur (be sure to explain your answer such as including reference to the demand or supply curve):
    1. The interest rate in Japan is lowered.
    2. Prices are lower in U.S.
    3. Higher US interest rates.
  4. What is the effect of a higher exchange rate on exports and imports?

Assignment Expectations

Use concepts from the modular background readings as well as any good-quality resources you can find. Be sure to cite all sources within the text and provide a reference list at the end of the paper.

Length: 3-4 pages double-spaced and typed.

The following items will be assessed in particular:

  • Your ability to understand international trade policy.
  • Some in-text references to the modular background material (APA recommended).
  • The essay should address each element of the assignment. Remember to support your answers with solid references including the case readings.

Content:

Eco 202 Student’s Name: Institutional Affiliation: ECO 202 1 How governments restricts international trade and who benefits and loses from the same. Governments restrict international trade mainly by use of tariffs, subsidies and quotas. There are two types of tariffs: revenue tariffs which are put in place to raise revenue for the government and protective tariffs which are put in place to specifically make foreign goods more expensive than domestic goods. The general effect of a tariff is to increase the price of an imported product which in turn favors locally produced products which are similar in nature due to reduced competition. Subsidies are grants by the government to domestic producers to encourage exports. The grants are used to pay production costs which in turn lead to less being charged for goods than foreign producers. Quotas are limits on amounts that can be imported. The effect of a quota is that

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