Business, 19.03.2020 21:38, loredohome

Consider two hypothetical countries, Alamgir and Ertil. Both countries produce iWidgets, and the price of iWidgets is higher in Larger than in Ertil. If Alagir and Ertil open to trade, producers in would be more likely to lobby their government for an import tariff on iWidgets in order to protect themselves from foreign competition.

Which of the following statements about the effects of the tariff compared to free trade are correct? Check all that apply.

A. In Ertil, producers of iWidgets are willing to expand output.
B. In Ertil, some workers at retail and shipping companies that import iWidgets lose their jobs.
C. In Ertil, workers in iWidget importing companies see more jobs available to them.
D. In Alagir, workers in iWidget importing companies lose their jobs.
E. In Ertil, consumers pay more for the homemade iWidgets.

Answers: 1

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Consider two hypothetical countries, Alamgir and Ertil. Both countries produce iWidgets, and the pri...