Question

How do trade barriers in the U.S. increase production and unemployment?

How do trade barriers in the U.S. increase production and unemployment?

Homework Answers

Answer #1

Trade as barriers in the increased production in US and unemployment -

  1. Tariffs as one of the Trade barriers, lead to increase in the prices of raw materials being imported and creates reduced availability of goods and services. This further leads to lower net income, less number of employment and low output
  2. The other impact of tariff would be lower GDP of the US. This further has impact on production and employment
  3. Tariffs also lead to less progressive tax code in US as increase tax overlay would impact lower and middle income earning group badly
  4. Increased and range of tariffs lead to competition among the imported goods, which acts as threat to domestic industries. This threat may lead to kayoff of workers
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Identify and define artificial trade barriers.  How are they used to achieve and maintain full employment throughout...
Identify and define artificial trade barriers.  How are they used to achieve and maintain full employment throughout the U.S. economy. Are they effective?   How might such policies reduce unemployment in one U.S. industry but increase it in another U.S. industry?
how trade barriers can affect the economy. Why do you think we have such barriers?
how trade barriers can affect the economy. Why do you think we have such barriers?
Why do governments use trade barriers? Explain.
Why do governments use trade barriers? Explain.
For the publicly traded U.S. company Apple (AAPL), explain how things such as free trade, trade...
For the publicly traded U.S. company Apple (AAPL), explain how things such as free trade, trade barriers, Basel III, and/or NAFTA have affected the company's economic decisions.
Discuss why countries create barriers to trade when economic theory shows trade as being beneficial to...
Discuss why countries create barriers to trade when economic theory shows trade as being beneficial to a nation. Who benefits from international trade? Who loses from international trade? How can the negative effects of the failures from international trade be reduced? Do you agree with the concept of trade barriers? Why or why not?
Identify trade policies in the time period from 2000 - 2010 in the U.S.. What trade...
Identify trade policies in the time period from 2000 - 2010 in the U.S.. What trade barriers were in place from 2000 - 2010? What are two pros and two cons of the trade barriers used?
Identify trade policies in the time period from 2000 - 2010 in the U.S.. What trade...
Identify trade policies in the time period from 2000 - 2010 in the U.S.. What trade barriers were in place from 2000 - 2010? What are two pros and two cons of the trade barriers used?
Critics of the North American Free Trade Agreement (NAFTA) feared that it would: A. increase the...
Critics of the North American Free Trade Agreement (NAFTA) feared that it would: A. increase the flow of illegal Mexican immigrants to the United States. B. cause the European Union and Japan to raise trade barriers against U.S. goods. C. cause a massive loss of U.S. jobs to Mexico. D. increase foreign ownership of assets in the United States.
a) What are the implications of trade barriers for business or firms in the US? .Please...
a) What are the implications of trade barriers for business or firms in the US? .Please support your answers with some examples. b) Given the arguments relating to the new trade theory and strategic trade policy, what kind of trade policy should business be pressuring government to adopt? How trade barriers impact firm strategy, and what role they can play in promoting free trade or trade barriers
If exports increase and imports decrease in the U.S., what happens to the trade deficit? Will...
If exports increase and imports decrease in the U.S., what happens to the trade deficit? Will this help or hurt the U.S.? In what ways is a bigger trade deficit a problem for the country? What good is the deficit? Hint: Use the currency market supply and demand to determine the exchange rate.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT