Which do you favour-free trade or protection

Reference no: EM133436071

Assignment:

Is the hardest for students to answer; some additional explanations can help. If consumers pay a total of $100 000 extra to save 100 Canadian jobs, then the cost of saving a job is $1000.

Which do you favour, free trade or protection? Explain why.
Assume you are voting on a request before the ministry called International Trade Canada to raise the tariff on imports of rubber thread. Rubber thread is made from latex and is a relatively small industry. It is used in the manufacture of elastic in items like socks, underwear, and bungee cords. Increasing the tariff would allow Canadian producers to avoid layoffs and to invest in technology. Would you vote for the tariff increase, or against it?
More generally, what are the benefits of keeping a job in Canada?
The costs of protectionism are paid by consumers in the form of higher prices. The obvious question is, "At what point do these costs exceed the benefits?" In your opinion, how much extra should consumers pay to keep a job in Canada? (Express this figure in dollars/per job.)

Reference no: EM133436071

Questions Cloud

Calculate marginal revenue and marginal cost : How is social economic profit affected by the transition from monopoly to free competition? Show your answer with relevant calculations.

Discuss the importance of using the appropriate leadership : Discuss the importance of using the appropriate leadership style to influence employee engagement and performance

What is the actuarially fair premium price for this policy : Carolina is looking to get insurance and she contacts Geico who offer her an insurance policy that will pay $300,000 if the restaurant incurs partial damage.

Identify the toyota in innova hycross top model : Analyse the non-price factors that influence the demand for Toyota Innova Hycross top model. How do these non-price factors affect demand for this vehicle?

Which do you favour-free trade or protection : Assume you are voting on a request before the ministry called International Trade Canada to raise the tariff on imports of rubber thread.

Why is it important to learn about an organization mission : Why is it important to learn about an organization's mission, goals, objectives, and strategies and how might this aid in your professional development as

Review report the samoa water authority : According to a report by the Samoa Water Authority, the average four-member household uses about 345 gallons of water daily.

Discuss the definition of an organizations need : discuss the definition of an organization's "need," as contrasted with wants, quasi-needs, wishes, methods, means and/or fads. Give an example of a need

How the benefits you chose would retain you as an employee : Select three benefits that are most important to you and discuss why you chose those benefits. Consider how the benefits you chose would retain you

User Account

All Pages