International Trade and Tariffs: Economics

Front

What initial price did US manufacturers set for their cars?

Back

$100

Front

What was the initial price of Chinese cars in the US market?

Back

$75

Front

What percentage tariff did the US government impose on Chinese car imports?

Back

100%

Front

After the tariff, what became the new price of Chinese cars?

Back

$150

Front

How might China potentially respond to US tariffs? Options: Ignore the tariffs, Impose tariffs on US goods, Stop trading completely, Lower car prices

Back

Impose tariffs on US goods

Front

What potential long-term economic consequence does the video suggest? Options: Increased global cooperation, More efficient markets, Less market innovation, Lower consumer prices

Back

Less market innovation

Front

What strategic move might Chinese manufacturers make to avoid tariffs? Options: Stop exporting, Open manufacturing plants in the US, Reduce car production, Increase prices

Back

Open manufacturing plants in the US

Front

How might reduced competition affect US car manufacturers?

Back

Potential price increases

Front

What economic principle does this scenario primarily demonstrate? Options: Supply and demand, Protectionist trade policy, Free market economics, Global manufacturing

Back

Protectionist trade policy

Front

Who ultimately pays the cost of tariffs?

Back

The consumers