by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What are Economic Unions? An economic union is a type of trade block composed of common market and a customs union.The participant countries have both common policies on product regulation, freedom of movement of goods, services and the factors of production (capital...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Unsafe Consumer Products Argument for Restricting Imports? One argument for shutting out certain imported products is that they are unsafe for consumers. Consumer rights groups have sometimes warned that the World Trade Organization would require nations...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Environmental Protection Argument for Restricting Imports? The potential for global trade to affect the environment has become controversial. A president of the Sierra Club, an environmental lobbying organization, once wrote: “The consequences of...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Anti-Dumping Argument for Restricting Imports? Dumping refers to selling goods below their cost of production. Anti-dumping laws block imports that are sold below the cost of production by imposing tariffs that increase the price of these imports to...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What are Non-Tariff Barriers? Nontariff barriers are all the other ways that a nation can draw up rules, regulations, inspections, and paperwork to make it more costly or difficult to import products. A rule requiring certain safety standards can limit imports just as...
