Protectionism evaluation
Cards (35)
- What is the main focus of the video?
- Are the arguments presented specific only to tariffs?
- What diagram is described as "wonderful" and "useful"?
- According to the video, how does a tariff affect the market?
- How do free marketeers view tariffs?
- What is the effect of tariffs on consumers?
- According to the tariff diagram, what happens to prices with a tariff?
- What happens to consumer surplus when a tariff is imposed?
- What does the imposition of a tariff lead to for consumers?
- Besides price, what else do consumers lose because of tariffs?
- According to the video, what is the quantity coming into the market after a tariff?
- What are consumers hurt by due to tariffs?
- In the context of tariffs, what is economics about?
- What does the left triangle on the tariff diagram represent?
- What does allocative inefficiency mean?
- Why are domestic supplies producing extra units wasteful?
- What can nations expect when they impose a tariff?
- How strong can retaliation be?
- What does retaliation do?
- What does retaliation distort?
- According to the video, who bears the burden of a tariff?
- What type of items do a lot of tariffs go on?
- In what sense is a tariff described as regressive?
- What is likely to happen to income distribution when imposing a tariff?
- When evaluating a tariff, what can you question?
- What should be remembered when evaluating tariffs?
- What is the intention of a tariff?
- If demand and supply are very inelastic what will happen?
- What are the key components of a tariff diagram?
- What is the implication of a deadweight loss from tariffs?
- How do tariffs affect allocative efficiency?
- How do tariffs disproportionately affect low-income individuals?
- What effect does inelastic demand & supply have on a tariff's impact?
- How do tariffs affect domestic producers?
- What is the primary reason countries retaliate against tariffs?