Tariff practice 1 - green by https://padlet.com/klatyika/yu6bknr9p6qy6aih Made with a stroke of good luck en-us 2020-11-05 08:35:12 UTC 2025-11-19 12:03:10 UTC hello@padlet.com Case study 1 klatyika https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893214426 2020-11-05 08:36:13 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893214426 Case study 2 klatyika https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893214712 2020-11-05 08:36:21 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893214712 Case study 1 Question 1 licheng_guo https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893259023 - On quantity supply and demanded: 
- On quantity imported: decreased, because domestic consumer will have to pay a higher price than without tariffs.
- Domestic consumer: they will have a smaller consumer surplus.
- Domestic producer: increase the production 
- Government: they will be collecting tax revenue from tariffs 
- Domestic employment: will likely to increase, because consumers are more inclined to purchase domestic product
- Domestic income distribution 
- Efficiency in domestic production
- Foreign producers: they will have to produce less for the specific country.
- Allocation of resources Globally: Less efficient as the country that is imposed with tariff is usually more efficient at producing that product.]]> 2020-11-05 08:55:04 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893259023 Emre https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893267051 1)
-Tariffs will lead to lower quantity supplied and demand as price will increase
-Quantity imported will decrease as imports will become more expensive and less affordable
-Domestic consumers will find certain imports more expensive hence potentially buy domestically produced goods or services
-Domestic producers will find that due to imposed tariffs on certain imports, it will be easier for them to compete and prosper
-Government will find themselves collecting more? tax revenue
-Domestic employment will most likely increase as domestically produced goods and business will be more popular as their prices would be more competitive to imports
-Domestic income distribution could potentially worsen as people may have to pay a higher proportion of their income on certain imported goods however it could go any direction depending on the types of goods that are imported or the current distribution o income
-Efficiency in domestic production may decrease as they now won't have such high competitive benchmark to reach however on the other hand they will be able to stay in business therefore efficiency will increase as profit will be able to be made
-Foreign producers will be less happy as they would be able to sell at a lower quantity to the specified country as the consumer prices would be higher due to tariffs
-Allocation of resources globally would be less efficient as the a tax is being imposed on imported goods which are generally produced more efficiently than domestic goods.



]]> 2020-11-05 08:58:25 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893267051 Case Study 2 shreya https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893292632 Q1. 
On quantity supplied and demanded: 

On quantity imported: will decrease as imports will become more expensive, so less people will be willing and able to buy them. 

Domestic consumers: will have to pay more for their consumption. This is because imports are more expensive due to the tariffs, and the domestic price is higher than world price. 
Domestic producers:
will have increased revenue due to increase in domestic consumption of their products. 
Government:
increased revenue from imposed tariffs
Domestic employment:
increases as more people are needed to supply the goods that are demanded. 
Domestic income distribution: would improve as local producers will make more revenue
Efficiency in domestic production: would increase  as firms get more revenue and hence could make supernormal profit that they would invest 
Foreign producers: would make less revenue as people aren't importing from them 
Allocation of resources global: as there is a deadweight loss stemming from the imposition of a tariff, there is a misallocation of resources
]]> 2020-11-05 09:09:34 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893292632 Case study 2 Question 2 licheng_guo https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893341347 This can result in a higher domestic output, from Qs1 to Qs2, and this would help to maintain employment during the slowdown.]]> 2020-11-05 09:30:16 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893341347 Case 2 Q3 - Stella https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893342654 By impose tariff,
consumers will be affected, as price of goods becomes more expensive. Consumers now have to pay more for the same good.
producers will be affected, as price of goods becomes more expensive.
government will be affected, they would receives money from the tariff revenue. ]]> 2020-11-05 09:30:48 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893342654 Case Study 2 Q2- Shreya https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893346492 WHY MIGHT POLICY MAKERS CHOOSE TARIFFS IN AN  ECONOMIC SLOWDOWN?
if they impose tariffs, people will more likely switch to consuming domestic goods. This increased demand for national goods increases the AD as there are less imports, so (X-M) increases. In turn, people will be hired to produce these goods so the AS curve will also shift to the right, thereby creating a new higher equilibrium level of output. Furthermore, if people don't switch their consumption, they will still be paying some amount to the government which the govt can then use in fiscal policies to re-stimulate AD.

]]> 2020-11-05 09:32:26 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893346492 https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893347043 2020-11-05 09:32:40 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893347043 Case study 2 question 3 licheng_guo https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893348324 2020-11-05 09:33:15 UTC https://padlet.com/klatyika/yu6bknr9p6qy6aih/wish/893348324