1) French cheese is sold in the United States

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1) French cheese is sold in the United States. Classify this transaction from the vantage point of the United States and from the vantage point of France.

 

2. How does international trade affect the domestic production and domestic consumption of goods imported into the country?

 

3. Why do consumers gain from imports? Why do consumers lose from a tariff?

 

4. Why doesn't everyone in a nation gain from exporting a good?

 

5. For many years Japan conducted extremely slow, detailed, and costly safety inspections of all U.S. cars imported into Japan. In terms of trade, what was the effect of this inspection? How did the inspection affect the price and quantity of cars in Japan?

 

6. Suppose the U.S. government imposes a tariff on sugar. How does the tariff affect the price of sugar? How does it affect U.S. sugar consumers? U.S. sugar producers?

 

7. Suppose the U.S. government imposes an import quota on sugar. How does the import quota affect the price of sugar? How does it affect U.S. sugar consumers? U.S. sugar producers?

 

8. What is the dumping argument for protection? What is its flaw?

 

9. How do you respond to a speaker who says that we need to limit auto imports from Japan in order to save U.S. jobs?

 

10. Why is it incorrect to assert that trade with countries that have lax environmental standards needs to be restricted?