13. Refer to Figure 2. With trade, this country a. exports 160 tricycles. b. exports 320 tricycles. c. imports 160 tricycles. d. imports 320 tricycles. 14. Refer to Figure 2. Without trade, consumer surplus amounts to a. $810. b. $1,620. c. $3,240. RRRRRRRXRRE
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- efer to Figure 9-2. Without trade, consumer surplus amounts to a. $6,480. b. $810. c. $3,240. O d. $1,620. 37 Domestic Demand PRICE (Dollars per tricycle) = 19 1 200 360 QUANTITY (Tricycles) Domestic Supply World Price 5206. The world market for large passenger jet airplånes is all onBOP firms: Boeing in the United States and Airbus in Europe. a. Explain why the market equilibrium might involve either a low price for airplanes or a high price for airplanes. b. From the perspective of the well-being of the United States (or Europe), why might a high-price equilibrium be desirable? c. What price outcome is desirable for Japan or Brazil? Why? d. If the outcome is the high-price equilibrium, does Japan or Brazil still gain from importing airplanes? Explain. 7. A monopolistically competitive industry exists in both Pugelovia and the rest of the world, but there has been no trade in this type of product. Trade in this type of product is now opened. a. Explain how opening trade affects domestic consumers of this type of product in Pugelovia. b. Explain how opening trade affects domestic producers of this type of product in Pugelovia. 8. You are a consumer of a product that your country imports. There is an…111 Domestic Demand PRICE (Dollars per tricycle) 99 33 360 QUANTITY (Tricycles) 200 c. Refer to Figure 2. Without trade, total surplus amounts to Domestic Supply A. Refer to Figure 2. With trade, how many units will be imported/exported? B. Refer to Figure 2. Without trade, consumer surplus amounts to D. Refer to Figure 2. With trade, producer surplus is E. Refer to Figure 2. With trade, total surplus is World Price 520
- 3. State the effect of an export subsidy on the following: a. Price of the good in the exporting country. b. Price of the good in the importing country. C. Consumer surplus in the exporting country. d. Consumer surplus in the importing country. e. National welfare in the exporting country. f. National welfare in the importing country.Explain how a subsidy on agricultural goods like sugar adversely affects the income of foreign producers of imported sugar.price supply domestic price- $35 import price + tarif $20 demand 100 300 500 650 850 quantity Based on the graph above, if there is a tariff of $15 per unit imposed on imports in this market: A. 750 units will be imported and tariff revenue to the government will be $11.250 B. 650 units will be imported and tariff revenue to the government will be $9,75O C. 350 units will be imported and tariff revenue to the government will be $5.250 D. 300 units will be imported and tariff revenue to the government will be $4,500
- 27. Suppose IP is the international trade price and this country's government imposes a $3 tariff on imports of this good, what will be the loss to consumers? 28. Suppose IP is the international trade price and this country's government imposes a $3 tariff on imports of this good, what will be the net loss to this econom? 29. Suppose IP is the international trade price and this country's government imposes a $3 tariff on imports of this good, how much revenue will the government collect? 30. Suppose IP is the international trade price and this country's government imposes a 6 unit quota on imports of this good, what will be the net loss to this econom?7. A high tariff on imported good X might reduce domestic employment in industry Y if A. X is an inferior good. B. Y is an inferior good. C. X is an input used domestically in producing Y. OD. X and Y are substitute goods.▪Figure: The Home and World Markets ▪ The supplied graph shows the case for a tariff imposed by a large country. Home market World market Price I $36 $30 $26 SO 20 40 80 100 Quantity Price C) $160; $120 'D) $120; $120 40 80 X + 1 Imports Q1. (Figure: The Home and World Markets) The terms-of-trade gain is deadweight loss is 'A) $120; $160 'B) $160; $160 and the ↑. 1. ↑. ↑.
- Question 19 A tariff implemented to reduce international imports to the U.S. will typically: O raise the price received by sellers and raise the price paid by consumers. O increase consumer and producer surplus. O raise the price received by sellers. O lower the price received by sellers. O raise the price paid by consumers. • Previous No new data to save. Last checke hpUS Mkt. for single family homes. The changes in the price lumber affects supply/demand of single family homes because ______________________________. On the graph: (1) Show the effect of the change in the price of lumber. (2) Show consumer surplus (CS0) and producer surplus (PS0) before the imposition of tariffs; (3) Show consumer surplus (CS1) and producer surplus (PS1) after the imposition of tariffs; (4) With up/down arrows, indicate the changes in equilibrium price___, equilibrium quantity____, consumer surplus_____, producer surplus_______. In the US market for single-family homes 1. Label clearly the supply and demand curves, S and D. (10%) 2. In the text, indicate clearly what side of the market is affected, supply or demand, by underlining or circling the relevant term. (20%) 3. In the text, indicate clearly by filling in the space provided, the connection between the markets. Why does the change in the price or quantity of one good affect demand or supply of another good…* Question Completion Status: QUESTION 46 Figure 9-2 Price (dollars per pound) US Supply A. $1.00 Pw + tariff 0.60 G World price (Pw H J K US Demand 15 31 42 Quantity of rice (millions of pounds) Suppose the U.S. government imposes a $0.40 per pound tariff on rice imports. Figure 9-2 shows the impact of this tariff. Refer to Figure 9-2. The tariff causes domestic consumption of rice O to fall by 11 million pounds. O to rise by 6 million pounds. O to fall by 27 million pounds. to rise by 16 million pounds. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers