Multiple economics question, help please

Question

1. The introduction of a tariff will be expected to

a. reduce imports (right answer??)

b. increase the prices of exports but have no effect on the level of imports

c. reduce the prices of exports but have no effect on the level of imports

d. increase exports

e. increase imports

2. If the US imposed a quota on motorcycle imports from Japan it would lead to a ______ quantity imported, and a ______ quantity produced in the US

a. lower, higher(right answer??)

b. lower, lower

3. The motive for the erecting trade barriers to import goods and services from abroad is to

a. protect and benefit special interest goods in that nation

b. reduce the prices of goods & services produced in that nation(right answer??)

c. expand the export of goods & services to foreign nations

4. high protective tariffs

a. would be supported by most economists(right answer??)

b. will become more likely if we do not reduce our trade deficit

c. have very little support

d. would definitely solve all our trade problems

5. Despite long-term mutual gains from international trade, in the short run...

a. particular firms, industries and groups of workers can be harmed substantially by imports(right answer??)

b. international trade is usually inflationary

c. countries must learn to be self-sufficient

d. most countries realize mutual net losses

e. hardships must be incurred to initiate the trade

Answer 1

1. a. reduce imports

Tariffs increase the price of imports, which reduces the quantity demanded.

2. a. lower, higher

The quota would decrease the amount of motorcycles imported, so the first blank must be lower by definition.  Since the quantity of imports decreases, the price increases, which causes domestic manufacturers to produce more.

3. a. protect and benefit special interest goods in that nation

Increasing trade barriers increases prices, which benefits certain producers in the country.

4. b. will become more likely if we do not reduce our trade deficit

Something along the lines of 87 percent of economists support reducing trade barriers, so it's not A.  High tariffs would cause other countries to retaliate; it wouldn't solve anything, so it's not D.  That leaves either B or C.  I think that there is some degree of support for high tariffs (the US has the lowest approval rating of globalization of all developed countries), so that leaves B.  If our trade deficit stays so large, people will see imports as the cause of it and will call for higher trade barriers.

5. a. particular firms, industries and groups of workers can be harmed substantially by imports

Industries where imports replace domestic production are harmed, such as the auto industry in the US.