If globally the tariff rate on complex, high-priced goods is less than the overa

Question

If globally the tariff rate on complex, high-priced goods is less than the overall tariff rate, what will happen? Developed nations will focus more on producing complex products and high-priced goods Developing nations will focus more on producing raw materials and low-priced goods Developing nations will focus more on producing complex products and high-priced goods None of the above If it was discovered that drinking beer everyday cuts the risk of cancer in half, ceteris paribus, what would happen to the equilibrium price and quantity in the beer market? The equilibrium price would rise and the equilibrium quantity would rise The equilibrium price would rise and the equilibrium quantity would fall The equilibrium price would fall and the equilibrium quantity would rise The equilibrium price would fall and the equilibrium quantity would fall If the United States, and only the United States, placed economic sanctions on Eretria (a country with little economic and political ties to the US), and the people of Eretria strongly opposed the sanctions politically and culturally, would the sanctions succeed? If the government were to increase taxes on firms in the oil industry, ceteris paribus, what would happen to the equilibrium price and quantity in the oil market? The equilibrium price would rise and the equilibrium quantity would rise The equilibrium price would rise and the equilibrium quantity would fall The equilibrium price would fall and the equilibrium quantity would rise The equilibrium price would fall and the equilibrium quantity would fall

Explanation / Answer

Question 9)

Developed countries will produced complex high priced goods

This is already happening, The best example is most high end products are still manufactured in most advanced nations like Germany or Japan.

Question 10)

Equilibrium price and quantity will rise

Atleast beer is doing something good, People will think like that and enjoy more beer thus increasing its quantity and price

Question 11)

Yes,

US is powerful country and it can impose sanctions without any approval of other nation which would be hit by sanctions.

Question 12)

Equilibrium price will rise and qunatity will decrease.

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