What is a tariff? Why has the world economy moved from high tariffs and protectionism to lower tariffs and nontariff barriers?
What will be an ideal response?
An ideal response will:
1, Define a tariff as a tax added to the cost of imported goods that is designed to raise their price and thereby protect the country's businesses and workers from foreign competition.
2, Describe the increasingly interdependent nature of the global economy, and how tariffs erect a barrier to free trade between countries.
3, Discuss how agreements such as NAFTA and GATT have lowered barriers to trade and how countries now resort to nontariff barriers such as quotas, subsidies, and quality specifications to limit imports.
4, Observe how the global world economy is making concepts such as imports and exports increasingly difficult to define.For example, many businesses have companies in multiple countries.
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One way political parties clarify and simplify presidential elections is by
A) restricting information about the candidates. B) nominating candidates, so that there is only one representative from each party running for president. C) lying about the candidates. D) controlling all of the media coverage of the candidates. E) All of the above
In which of the following country types is the practice of petitioning most common?
a. Liberal democracies b. Communist/Post-Communist c. NICs d. LDCs