Purchase Solution

Should we restrict foreign imports?

Not what you're looking for?

Ask Custom Question

Should we restrict foreign imports or let them in? This is a classic economics question which has been discussed by economists since the time of Adam Smith in 1776.

Read the article below. Then list one good reason to allow tire imports and one good reason to restrict tire imports. Give a short explanation for each reason. All things considered, should cheap Chinese tires be kept out or let in? (Note: this tariff was imposed in fall 2009). Make sure to give some thought to comparative advantage as you compose your post.)

http://online.wsj.com/article/SB10001424052970203609204574318201692908082.html

Purchase this Solution

Solution Summary

This solution discusses the restriction of foreign imports.

Solution Preview

The reason to allow tire imports is based on the premises that allowing such tire imports would help in maintaining good tire sales among low income consumers, as well as boost employment ...

Solution provided by:
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
Recent Feedback
  • "Thank you. "
  • "Thank you"
  • "Thank you. I got 20/20 last week for my discussion you help me out with."
  • "Thank you. Great Job. "
  • "Thank you. Great Job. "
Purchase this Solution


Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.