sports
...ports team is implemented into the city. Also the local government receives tax revenues which help fund organizations such as schooling and after school facilities for teenagers. However, high wages which the athletes earn can actually hurt the communities views on the sport. This can have a negative impact on the quality of life, but overall the quality of life improves. 1. The nationally optimal tariff is the tariff that creates the largest net gain for the country imposing it. However, this is based upon the assumption that the foreign governments do not retaliate. This is a win situation for the large importing country that imposes the tariff and a losing situation for the world who is exporting. (See figure 7.6 on page 148) 2. For a small country, (one that cannot effect world prices), a tariff on imports lowers national well-being. For a large country, (one that can effect world prices), a tariff on imports raises national well-being because of its monopsony power. (See figure 7.4 on page 140, and figure 7.5 on page 146) 3. The effective rate of tariff prot...