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Critical Thinking: Costs and Benefits of Import Quotas (Example)

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The US Policy of Foreign-Produced Vehicles Name: Institution Affiliation October 19 2017 Introduction In 1980 the automobile manufacturers in the United States asserted that import quotas be instituted on foreign-produced vehicles marketed in the United States. This was suggested and implemented because the United States manufactures cars were losing market as a result of imports from the neighboring countries for example Japan. The imported vehicles were smaller compared to the Unites States big cars their cost of purchase was cheaper consuming less fuel and still doing similar functions like the United States big cars. Therefore people find it convenient and economical to buy imported cars rather than the United States manufactured cars. This resulted to huge losses on the United States manufacturers jobs were lost and the economy of the country deteriorated. In order to win back the market the policy was made and the manufacturers were urged to fast car which do not consume too much fuel leading to increase in sell hence more profit CITATION Cut15 \l 1033 (Cutcher-Gershenfeld 2015). Conclusion Free trade remains the strongest form of trade; therefore the automotive industry should always be smart and ready for fair competition. There should be no long term protectionism by the government as this brings about economic instability and economic war among countries. References Congress. (1980). US TRADE AND INVESTMENT POLICY: Imports and the Future of the American Automobile Industry. Joint economic Committee: Congress of the United States (p. 151). Washington: US Government Printing Office. Cutcher-Gershenfeld J. Brooks D. & Mulloy M. (2015 May 06). The Decline and Resurgence of the U.S. Auto Industry. Economic Policy Institute 1-10.www.epi.org/publication/the-decline-and-resurgence-of-the-u-s-auto-industry/ Dunn J. A. & Altshuler A. A. (1981). The Future of Automobile. Pennsylvania: Eagle Lodge.Edward L. (1985). The Costly Truth about Auto Import Quotas. Washington: The Heritage Foundation.www.heritage.org/environment/report/the-costly-truth-about-auto-import-quotas [...]

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In 1980, automobile manufacturers in the United States asserted that import quotas be instituted on foreign-produced vehicles marketed in the United States. In a critical essay, elaborate on the costs and benefits of this policy and approach. Is the policy in effect? How have non-US manufacturers responded? Summarize the effects and discuss the trends of the past 35 years. Support your findings with additional academic references. Directions: Your essay should be at minimum five-pages in length, which does not include the title page, abstract, or required reference page, which are never a part of the content minimum requirements. Support your submission with course material concepts, principles, and theories from the textbook and at least three scholarly, peer-reviewed journal articles. Use the Saudi Digital Library to find your resources. Use Saudi Electronic University academic writing standards and APA style guidelines. It is strongly encouraged that you submit all assignments into the Turnitin Originality Check prior to submitting it to your instructor for grading. If you are unsure how to submit an assignment into the Originality Check tool, review the Turnitin Originality Check – Student Guide for step-by-step instructions. Review the grading rubric to see how you will be graded for this assignment.

Subject Area: Economics

Document Type: Reports

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Words 1375

Pages 5

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Expert mathew2010

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10.27.2017

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