United states increasing the tariff on automobiles

Reference no: EM1373754

Assume the US increases tariff on automobiles imported from Germany and other foreign nations. Determine the effect of this tariff-rate increase on
[A] the price of automobiles in the United States;
[B] the total number of cars sold in the United States during the year;
[C] the number of cars produced by and employment in the German automobile industry;
[D] production by and employment in the U.S. automobile industry;
[E] German income obtained by selling cars in the United States;
[F] the German demand for goods produced in the United States;
[G] the production of and employment in those United States industries that now export goods to Germany;
[H] the allocation of resources in the United States economy; and
[I] the allocation of the world's resources?

Reference no: EM1373754

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