Explain Whether the Statement "The Government Should Increase Tariffs on Japanese

question 202

Essay

Explain whether the statement "The government should increase tariffs on Japanese cars to protect the American car industry from competition," is a normative or positive statement.

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Definitions:

Net Capital Outflow

Net capital outflow refers to the difference between the domestic investment in foreign assets and the foreign investment in domestic assets over a particular period.

Foreign-Currency Exchange

The trading of one currency for another, determining how much one currency is worth in terms of the other.

Exports

Goods or services sent from one country to another for trade or sale.

Supply

The total amount of a specific good or service that is available to consumers.