Economics 4. Depict on graph and briefly explain economic consequences of export subsidy: • for domestic exporters; • for domestic consumers; • for government budget; • for national economic welfare as a whole.
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Economics
4. Depict on graph and briefly explain economic consequences of export subsidy: • for domestic exporters; • for domestic consumers; • for government budget; • for national economic welfare as a whole.
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- Attempts 5. Agricultural export subsidies in a small nation The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Pw is the free trade price of wheat. Assume that Canada is a relatively small producer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to purchase wheat at the world price with negligible transportation costs. Suppose a subsidy of $80 per ton is granted to exporters in Canada, allowing them to sell their products abroad at prices below their costs. Assume that trade restrictions are also put in place in order to prevent domestic consumers from buying wheat abroad at the world price. Use the grey line (star symbols) to indicate the world price of wheat plus the subsidy on the following graph. Then use the black point (plus symbol) to indicate the price of wheat in Canada and the quantity demanded at…raded Assignment | Read Chapter 5 Back to Assignment Attempts: ܀ Average: 14 2. Comparing tariff, quota, and subsidy Aa Aa Which of the following statements regarding the effects of a tariff, quota, and subsidy are correct? Check all that apply. A subsidy involves smaller sacrifices in national welfare than occur under an equivalent tariff or quota. The direct cost of the subsidy is borne by foreign producers. A subsidy yields the same result for domestic producers as does an equivalent tariff or quota, but at a higher Copyright Notices cost. Tariffs and quotas distort choices for domestic consumers and cause less efficient home production. Terms of Use Due Tuesday 11.03.15 at 11:00 PM Privacy Notice Grade it Now Security Notice Save & Continge AccessibilityExport Subsidy. Suppose the home country exports cloth and imports food. Show the impact of an export subsidy by the home country using the relative demand and relative supply curves for cloth. What is the impact on the home country's terms of trade? Make sure you label your graph and explain your reasoning.
- Namibia is contemplating on imposing an export subsidy to encourage its businesses to export more. with the use of the diagram, discuss the effect of such an export sudsidyBriefly explain the effects of the following policies on agricultural sector: i) Import Tariffs; ii)Export Taxes; and i) Import Quotas.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.
- The table below represents the quantity of rice demanded for selected countries. Quantity of Rice Demanded (millions of metric tons) Price (U.S. dollars per metric ton) Japan Taiwan South Korea Market Total $600 13 7 8 500 14 8.5 10.5 400 15 10 13 300 16 11.5 15.5 200 17 13 18 What is the quantity of rice demanded in the market (in metric tons) if the market price is $300 per metric ton? million metric tons Round your answers to 1 decimal place.The figure below shows the domestic demand (Dd) and domestic supply (Sd) curves of mopeds in a country before an import quota is imposed by the government. After the imposition of the quota, the maximum import quantity is QQ. $800 $750 $715 0 0.4 0.5 0.6 1.5 1.8 2.0 Olose $29.75 million. gain $21.5 million. Sa gain $31.5 million. lose $10 million. If the government auctions the quota licenses, the importing nation will Sa+QQ World price New export price with quot Da Quantity (Millions of Mopeds per year)The graph demonstrates the domestic demand and supply for a good , as well as the world price for that good. If this country is an autarky, what amount of the good is consumed domestically, and at what price? a. 60 units at $10 each b. 115 units at $14 each c. 150 units at $10 each d. 60 units at $17 each
- 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?Consider a large Home country which is a natural exporter of wheat. To support domestic wheat farmers, Home introduces a wheat export subsidy of $s per unit of exports, as shown in the figure below. Price 80 288 70 60 50 20 30 40 S Price 80 90 100 Quantity X₁ X₂ Ex Ex-s Im Exports i. What is the free trade equilibrium price, output and exports? How does the Home export subsidy affect domestic price, the world price and Home exports (a numerical answer is expected)? ii. Calculate the effect of the subsidy on Home consumer surplus, producer surplus and government revenue.Graphically explain the negative effects of quotas. How about subsidies? Label and explain results in detail.