What are the two approaches followed by the U.S. government to ease the burden on the victims of free trade?
What will be an ideal response?
The U.S. government follows two basic approaches.U.S. trade laws offer temporary protection from sudden surges of imports, on the grounds that unexpected changes in trade patterns do not give businesses and workers enough time to adjust.The government has set up trade adjustment assistance programs to help workers and businesses that lose their jobs or their markets to imports. Firms may be eligible for technical assistance, government loans or loan guarantees, and permission to delay tax payments. Workers may qualify for retraining programs, longer periods of unemployment compensation, and funds to defray moving costs.
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When a tax is imposed on a good, at the after-tax equilibrium the marginal benefit of the last unit produced ________ the marginal cost
A) equals B) is greater than C) is less than D) can be calculated but is not comparable to E) The premise of the question is incorrect because after a tax is imposed, it becomes impossible to determine the marginal benefit and the marginal cost.
Suppose you are the manager of Good Smells, a home fragrance firm. To make your fragrance, you purchase orange peels from orange juice manufacturers. If the demand for orange juice decreases, this will cause the production of orange juice peels to ________ and the price of orange juice peels to ________.
A) decrease; fall B) increase; fall C) increase; rise D) decrease; rise
The Grinch is now the mayor of your hometown, and he's still trying to steal Christmas. On the day after Thanksgiving, he announces a $25 tax on fresh Christmas trees. Tree farmers are angry to hear this because they have already delivered this season's
freshly cut trees to the tree lots in your town. You hear your neighbors planning to buy an artificial tree, and your family decides to drive to the next town to buy a tree. a . Who will bear the biggest share of the burden the first Christmas season this tax is in effect? Why? b. Will your answer change for subsequent Christmases? Why?
Private goods are characterized by two important attributes. What are they?
A. Marginality and depletability B. Scalability and desirability C. Repeatability and reliability D. Depletability and excludability