PRICE (Dollars per tricycle) 37 19 11 Figure 9-2 Domestic Demand Refer to Figure 9-2. With trade, this country O a imports 160 tricycles. O b. exports 160 tricycles Oc imports 320 tricycles O d. exports 320 tricycles 360 QUANTITY (Tricydes) 200 Domestic Supply World Price 520
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- The tsunamis that hit Japan in 2011 and India and Sri Lanka in 2004 were devastating, and their effects were felt for many years afterward. Natural disasters of this type as well as international events often result in severe disruptions to the supply ofallegations that meat inspectors and politicians had received bribes to overlook improper meat packing practices and allow sales of tainted food. How would the closing of export markets for a country’s beef products together with a fall in domestic sales of beef products and an increase in the domestic equilibrium quantity be reflected in supply-anddemand diagrams of that country’s foreign and domestic markets for beef in the short run?10. Price ($/ton) SUs A 350 300 200 100 10 15 20 Quantity of Sugar (milliontons) A) Using the prior graph if the U.S. did not trade what price would the good cost? If the world price was $200 what quantity would the U.S. produce? What quantity would be imported. What is consumer surplus at the world price? What is producer surplus at the world price? (Using labels do not use math) Who benefits from the free trade and who gets hurt? B) If the U.S. government puts a tariff on the good so now the price is $300 who benefits, who is hurt? What quantity will U.S. producers now produce? What happens to consumer surplus and producer surplus at this new price? What does the government gain from the tariff? C) Who benefits from free trade overall? Who benefits from trade restrictions? Why is a tariff the most used trade restriction? C.When the nation of Ectenia opens itself to worldtrade in coffee beans, the domestic price of coffeebeans falls. Which of the following describes thesituation?a. Domestic production of coffee rises, and Ecteniabecomes a coffee importer.b. Domestic production of coffee rises, and Ecteniabecomes a coffee exporter.c. Domestic production of coffee falls, and Ecteniabecomes a coffee importer.d. Domestic production of coffee falls, and Ecteniabecomes a coffee exporter.
- Explain how a subsidy on agricultural goods like sugar adversely affects the income of foreign producers of imported sugar.19. Mention two possible situations when dealing with exports and imports.Price (dollars per ip-flops) Sus 18 16 X 14 12 10 20- 8 World price Dus 100 300 500 700 900 1.100 1.300 Quantity (thousands of flip-flops) The above figure shows the U.S. market for flip-flops. With international trade, the equilibrium price in the United States is flip-flops. and the United States
- With a 5 peso import tariff (compared to free trade) domestic producers in The Philippines gain an amount equivalent to area ACHD IAB DABE JHD P J Domestic Demand A B. 30 pesos Domestic Supply D F G H 25 pesos E 400 800 2100 2900 This graph illustrates the demand and supply curves for cell phones in The Philippines. With free trade, the retail price in the domestic market is 25 Philippine pesos. In this market, an import tariff would cause prices to go up by the full amount of the tariff. With a 5 peso import tariff (compared to free trade) domestic producers in The Philippines gain an amount equivalent to area21. You have the following information acc. exported goods. Please, calculate CIF price for exporter. Provide your calculation Transportation by the main transport (vessel Export Transportation customs within the country cleaning Profit on realization of a Insurance of transportation of freight Import customs consignment of export cleaning freight) goods 350 2000 20000 4000 4300 1900 Costs of production of a consignment of goods (QTY is 60) 1000 Packing, marking 200 a. 490,8 b. 562,5 c. 424,17 d. 90,8When the nation of Ectenia opens itself to world tradein coffee beans. the domestic price of coffee beansfalls. Which of the following describes the situation'•· Domestic prOduction of coffee rises, and Ectenoabecomes a coffee imoorter.b. Domestic prOduction of coffee rises, and Ecten iabecomes a coffee exporter.c. Domestic prOduction of coffee falls. and Ecteniabecomes a coffee importer.rl Domestic PrOduction of coffee falls. and Ecteniabecomes a coffee exporter.
- (1) Define import quota with example and graph. (2) What is the impact of price difference between local price and world price. Explain with example amd graphs. Also do the algebric calculations to prove it.(a) With the help of a graph, explain how the quantities of exports and imports of a country canbe determined in a two-country and two-goods world. (b) Explain with the help of a graph theeffect of an increase in the relative price of the exported good of a country on its welfare.Ii, GRAPH O SETTINGS Supply Price of Computers ($) Somest Demand Tariff Amount 1,000 Nw Dom Eglum CALCULATIONS 800 World Price Domestic Quantity Supplied 110 Imports Domestic Quantity Demanded 190 Level of Imports 80 190 Tarf Amount $0 110 Quantity of Computers Taniff Revenue $0
