Suppose Japan is a small rice importer. At the world free trade price, Japan's domestic production of rice is Q1. In autarky, Japan's domestic production of rice will be Q2. The Japanese government believes that to preserve Japanese rice growing culture, the domestic rice production should be at Q3 and Q1
Q: In 1924, Kleenex tissue was invented as a means to remove cold cream. The product was initially back...
A: In a market, if there are no competing firms, the firm selling a standalone product or service is co...
Q: 5. The Philippines' highest shares in agricultural output in 1970 was sugar crops, but in 2010, the ...
A: Introduction Its answer will be 3 4,5,6 and 7** ( sugar crops (1)) - order 4/all animals 7 Because i...
Q: This searching is unnecessary with money which refers to the set of assets in an economy that people...
A: The term double exchange of wants means the situation where both the parties to trade agree to trade...
Q: Suppose that there are 177 identical firms in the market, each with a cost function C(q) = 100 + 1.5...
A:
Q: How much money would you have to deposit for 20 consecutive periods starting 1 year from now if you ...
A: Money is the value that is used to buy or sell goods and services in an economy. Money is supplied o...
Q: A pole for an electric distribution cost P10k and is expected to last for 7 years before replacement...
A: Interest rate is the rate of interest that defines the saving function. It means as the interest rat...
Q: Commodity 2001 price 2002 price Rice Cherries Market Basket Quantity 10 lbs. 5 Ibs. $1.00 $1.75 $1.1...
A: A consumer price index is calculated as a set of summary measures of the proportional change in the ...
Q: A project manager hires an agent to work on a project and the agent can work hard or not hard. If th...
A: Given information Probability of work hard with project success=0.95 Probability of not work hard wi...
Q: 14. A survey of 800 families with four children each revealed the following distribution : No. of bo...
A:
Q: What is the difference between detachable stock warrants and convertible bonds?
A: A bond is essentially an advance taken out by an organization. Rather than going to a bank, the orga...
Q: TD ULhon betwoen a normal and an infenior good is A. when income increases, demand for a normal good...
A: The above problem is based on two types of goods: Normal Goods Inferior Goods Normal goods are tho...
Q: Isoquant curves Gym requires exactly 3 bottles of water per athlete to maximise performance (athlet...
A: Introduction Isoquant curve : Isoquant curve represents all the inputs combinations of two commoditi...
Q: construct two graphs lined up one on top of the other. The upper graph should reflect a total cost c...
A: Total cost is the sum of fixed cost and variable cost.
Q: Total Cost of Elir Two Un Firm (Dollars) Firm X Firm Y Firm Z Method 2: Tradable Permits Meanwhile, ...
A: Disclaimer: please send the second part of the question completely, here we solve the first part for...
Q: Price controls A increase economic efficiency. В benefit both consumers and firms. C result in ineff...
A: Price controls: - Price controls are the methods or the process of adjusting prices in an economy.
Q: Suppose the demand curve for pizza can be represented by the equation QD = 20 - 2P. The supply curve...
A: quantity demanded is equals to quantity supplied , now as government impose 1.5 tax per pizza 20 - 2...
Q: (b) Given that nothing else is borrowed in the near future, the length of time it will take a govern...
A: A budget deficit means the government expenditure exceeds than government revenue for a product. The...
Q: Which of the following is true (M = Money supply, cu = currency - deposit ratio, res = reserve - dep...
A: The money multiplier formula is given by: (1+cu)/(cu+res)
Q: Question 2. Consider a firm that can use commodity one to produce commodity 2 according to the produ...
A: Functions that exhibit constant returns to scale are homogeneous functions. Homogeneous functions ar...
Q: Engineers in your company have determined that the cost of production of good X follows the function...
A: The company is operating in an industry that has many competitors, making similar products and each ...
Q: A committee of 4 people is to be appointed from 3 officers of the production department, 4 officers ...
A:
Q: A telecommunications business may produce 500, 000 units per month. The company generates a total mo...
A:
Q: In a sample of 1,000 people in London 540 are rice eaters and the London rest are wheat eaters. Can ...
A:
Q: What amount of money deposited 35 years ago at 8% interest would provide a perpetual payment of $10,...
A: Given; Perpetual payment= $10000 Life= 35 years Interest rates= 8%
Q: Hamra area is well known for having a large concentration of hair dressing salons. As a matter of fa...
A: The markets are the place where the buyers and the sellers of goods, services, and other products te...
Q: The approach to ethical behavior that proposes that actions and plans should be judged by their cons...
A: Ethical behaviour of a person is Influenced by his moral development acha the organisational culture...
Q: Resource X is necessary to the production of good Y. If the price of resource X rises, the _________...
A: Opposing economic variables gravitate towards their natural condition, resulting in economic equilib...
Q: Suppose that the interest rate at which Joanne can borrow and lend is 10 percent per year, but she c...
A: Future value is basically the value of a current asset at a future date based on a projected rate of...
Q: A survey is proposed to be conducted to know the annual earnings of the old Statistics graduates of ...
A:
Q: If the inflation rate is higher than the interest rate, then A. it is no longer possible to earn a...
A: According to the Fisher equation, Real interest rate = Nominal interest rate - inflation rate ...
Q: If $50,000 is deposited in a bank operating in a banking system that has a reserve requirement of 10...
A: Here, given information is: Deposited money: $50,000 Reserve requirements: 10% To find: total mone...
Q: Relate the educational levels in the various categories to the process of industrialization.
A: Meaning of Industrialization: The term industrialization refers to the process of economy empoweri...
Q: its capacity constraint so that the collusive equilibrium can si 1? (Hint: The idea here is that, by...
A: *Answer:
Q: In general, different jobs pay different wages. One overarching reason is that different jobs have d...
A: A wage is pay paid to representatives for work for an organization during a timeframe. Wages are gen...
Q: new, economic estimates for the two best alternatives are shown in the following table. MARR is at 1...
A: RORAI - Rate of return on additional investment. According to question, it is given that Capital o...
Q: draw James leisure demand curve. Which effect, substitution or income, is larger for him? James' lei...
A: James James Xiao Xiao price of og wage leisure other goods leisure other good...
Q: Why a cashless society are opportunities over risks? How does it improve people's daily life?
A: A cashless society is an economic situation in which financial transactions are carried out without ...
Q: Cost in oil and gas operations may be classified into a number of non-mutually exclusive groupings f...
A: Cost is the expenditure that is incurred in the production of goods and services. It means the total...
Q: Write a brief paragraph detailing certain markets that wouldn't even exist without government interv...
A: Government intervention is when the government takes regulatory action to try to influence peoples, ...
Q: The first cost of a certain equipment is P324,000 and a salvage value of P50,000 at the end of its l...
A: First, we convert all values into an equivalent A i.e. annual equivalent value. Then, to find the ca...
Q: The table below lists the CPI and wage values for the United States from different decades. a. C...
A: Real wages are nominal wages adjusted for inflation. Real wage denotes the purchasing power of the c...
Q: What other factors besides interest rates will cause the investment demand curve to shift?
A: Investment demand has an inverse relationship with the interest rate. There are other factors also t...
Q: The probabilities of X, Y and Z becoming managers are 4/9, 2/9 and 1/3 respectively. The probabiliti...
A:
Q: A firms production function is Q(L) = 15L2-0.1L3, where output (Q) is a function of a single input ...
A: The total product of the firm is the total number of goods that the firm produces. The Production fu...
Q: The demand curve for prepaid internet services is given by Pd = 80 – 0.2Q and the supply curve is gi...
A: Given, Demand, Pd = 80 – 0.2Q Supply, Ps = 20 + 0.2Q The graphical representation of the given suppl...
Q: Why are good policies and programs important in states?
A: In different states, there are different types of government to manage the socio-economic activities...
Q: 1. Suppose the Central Bank has just announced a higher overnight interest rate, thereby decreasing ...
A: Here, it is given that Central Bank increased the overnight interest rate to reduce the desire for n...
Q: A farmer can feed any combination of animals within the following range: Pigs Cows 84 12 75 15 Given...
A: Introduction Production possibility production curve shows the maximum production possibility of two...
Q: Per-unit production cost is: A) a determinant of aggregate demand. B) real output divided by...
A: Aggregate demand is composed of consumption spending, investment spending, government purchases and ...
Q: What are the nonincome determinants of Consumption and Savings?
A: Consumption refers to the act of consuming goods and services to satisfy the wants. It is an importa...
Step by step
Solved in 2 steps with 1 images
- Under autarky, the equilibrium quantity of chairs in India is 126052 per year. Once free trade is introduced with the world, quantity of chairs produced in India is 189406 per year and quantity of chairs purchased by Indian citizens is 70247 per year. What is the volume of exports of chair from India under free trade?A country that produces paper is a price taker in the world paper market. The world price is pw: Suppose that the industry is not polluting. onor The domestic supply curve, S, is upward sloping, but the home country can nti import as much as it wants at the world price, pw. In the free-trade equilibrium, e1, the equilibrium quantity is Q, and the equilibrium price is the world price, pw- With a ban on imports, the equilibrium is e2, quantity falls to Q2, and price rises to P2 P2 How do we know that winners from trade can compensate losers and still have enough left over to benefit themselves? mes The winners from trade can compensate the losers and still have enough left over to benefit themselves because, with free trade, O A. consumer surplus increases by more than producer surplus decreases. Q2 Q1 Q, Tons per year O B. consumer surplus increases by more than deadweight loss increases. O C. producer surplus increases by more than consumer surplus decreases. O D. producer surplus…Consider two countries, home and foreign and a single good, Y. Assume that home country imports good Y fromforeign country. The import demand curve for good Y in home country is given by: MD = 170 – 2PY and theexport supply curve for good Y in Foreign country is given by: EX = PY – 40.Part A. What is the free trade price of good Y? Show your work. Part B. How many units of good Y are traded under free trade? Show your work. Part C. If home country imposes a specific tariff of $15 per unit of good Y imported, what is the price of goodY that Foreign exporters receive? Show your work. Part D. If home country imposes a specific tariff of $15 per unit of good Y imported, what is the price of goodY that Home consumers pay? Show your work. Part E. If home country imposes a specific tariff of $15 per unit of good Y imported, how many units of goodY are traded now? Show your work. Part F. If home country imposes a specific tariff of $15 per unit of good Y imported, what is the tariffrevenue?…
- If a smaller country imports a good (electronics) from a larger country, is it beneficial for the smaller countryto impose quotas on the good coming from the larger country. Will this affect the consumers of electronics, the domestic producers of electronics and the government?If the United States is currently importing 14 million barrels per day at a world price of $4.00 per unit (the entire amount consumed), what is the effect on imports of a tax equal to $8.00 per unit? Quantity of Barrels Supplied (Millions) Quantity of Barrels Demanded (Millions) 0 2 4 6 8 10 12 The amount of imports after the $8.00 per-unit tax is responses as a whole number.) ges Price per Barrel Get more help. $4 8 Using the table above, after the imposition of the $8.00 per-unit tax, the new quantity supplied is 4 million barrels and the new quantity demanded is 12 million barrels. (Enter your responses as a whole number.) 12 16 20 24 28 14 13 12 11 10 9 8 million barrels per day. Before the tax, domestic producers supplied 0 barrels of crude oil. They now supply million barrels Clear all (Enter your more less Check answer (e)If Zambia is open to international trade in oranges without any restrictions, it will import Suppose the Zambian government wants to reduce imports to exactly 200 tons of oranges to help domestic producers. A tariff of S achieve this. A tariff set at this level would raise tons of oranges. In revenue for the Zambian government. per ton will
- If a nation that imports a good imposes a tariff, itwill increasea. the domestic quantity demanded.b. the domestic quantity supplied.c. the quantity imported from abroad.d. the efficiency of the equilibriumHome's demand curve for wheat isD = 100- 20P.Its supply curve isS= 20 + 20P.Derive and graph Home's import demand schedule. What would the price of wheat be in the absence of trade?2. Now add Foreign, which has a demand curve*D=80-20pand a supply curve = 40 + 20P.Derive and graph Foreign's export supply curve and find the price of wheat that would prevail in Foreign in the absence of trade.b. Now allow Foreign and Home to trade with each other, at zero transportation cost.Find and graph the equilibrium under free trade. What is the world price? What isthe volume of trade? 3. Home imposes a specie tariff of 0.5 on wheat imports.a. Determine and graph the effects of the tariff on the following: (1) the price ofwheat in each country; (2) the quantity of wheat supplied and demanded in each country; (3) the volume of trade.b. Determine the effect of the tariff on the welfare of each of the following groups:(1) Home import-competing producers; (2) Home consumers; (3) the Homegovernment.c.…The figure below shows the hypothetical domestic supply and demand for baseball caps In the country of Spaln. Domestic Supply and Demand for Baseball Caps Spain 10 9. 8. 1 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month) Suppose that the world price of baseball caps is €3 and there are no Import restrictions on this product. Assume that Spanish consumers are Indifferent between domestic and Imported baseball caps. Instructions: Enter your answers as whole numbers. a. What quantity of baseball caps will domestic suppliers supply to domestc consumers? 10 O thousand b. What quantity of baseball caps will be Imported? 80 thousand Now suppose a tariff of €2 is levied agalnst each Imported baseball cap. C. After the taniff is Implemented, what quantity of baseball caps will domestic suppliers supply to domestic consumers? 20 thousand d. After the tariff Is Implemented, what quantity of baseball caps will be Imported? 60 thousand Price (€ per cap)
- If a nation that imports a good imposes a tariff, it willincreasea. the domestic quantity demanded.b. the domestic quantity supplied.c. the quantity imported from abroad.d. all of the above.The country of Pepperland exports steel to the Landof Submarines. Information for the quantity demanded(Qd) and quantity supplied (Qs) in each country, in aworld without trade, are given in Table 34.6 and Table34.7. a. What would be the equilibrium price andquantity in each country in a world withouttrade? How can you tell?b. What would be the equilibrium price andquantity in each country if trade is allowed tooccur? How can you tell?c. Sketch two supply and demand diagrams, one foreach country, in the situation before trade.d. On those diagrams, show the equilibrium priceand the levels of exports and imports in the worldafter trade.e. If the Land of Submarines imposes an antidumping import quota of 30, explain in generalterms whether it will benefit or injure consumersand producers in each country.f. Does your general answer change if the Land ofSubmarines imposes an import quota of 70?Why Japan is dependent on food import?