Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table below (quantities in thousands). Quantity Supplied (before tariff) Quantity supplied (after tariff) Price ($) 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 Quantity Demanded 170 150 130 110 90 70 50 30 50 70 90 110 130 150 170 190 a) The present equilibrium price is $ and quantity is b) Suppose that the Canadian government imposes a $2,000 per car tariff on imported Japanese cars. Show the new supply in the last column above. c) The new equilibrium price is $ and quantity is d) The total revenue received by the government will be $ e) Assume, instead, that the government imposes an import quota of 90,000 cars. The new equilibrium price is $ thousand. thousand. million. and

Q4 MCQ . In order to avoid double counting, statisticians just count the __________________.   final inventories final goods and services intermediate goods and services durable goods and nondurable goods

We Suppose U.S. nominal GDP increases from one year to the next year. conclude that U.S. production of goods and services has increased because: Prices have decreased from one year to the next Prices have increased as well from one year to the next We do not know whether prices have changed from one year to the next The best measure for determining growth in output between two periods is real GDP

is Percentage of Households Percentage of income From the graph above, we can say that the bottom 60% of the population in Country B gets aggregate income in the economy, while the top 20 % of the population in Country A gets income in the economy % of the % of the aggregate

Statistics Denmark monitors the development of economic variables and measures e.g. productivity development.In general, it is one of the laws of economics that employee productivity determines the ability of employers to pay employees wages. The higher the productivity (per capita output), the higher the wages that can be paid. In a recession, such as Covid, companies are generally reducing their use of labor. The latest statistics show the following: In the third quarter of 2020, labor productivity growth in Denmark was 2%. This increase alone does not say much, but is considered to be able to reflect an increase in productivity following a contraction in labor input.   a. Show the relationship between production and labor use in the short term and at the same time explain with a picture what can cause the growth of productivity. b. What is happening to marginal production at the same time? c. Show how wages develop if companies keep marginal costs fixed in the above circumstances…

Consider the following quarterly sales data (in units): Actual Actual Actual 2019 16 12 10 13 51 Based on years 2018-2020, what is the seasonal index for Q2? Q1 Q2 Q3 Q4 Total 2018 15 12 10 13 50 Show Transcribed Text .98 J Based on years 2018-2020, v 1.02 1.05 .95 Ĉ 2020 17 14 12 11 54

HDI vs GNI formula to create scatterplot

For the next 6 questions, suppose that a simple economy produces only four goods and services: cars, homes, cheeseburgers and cheese. Assume all of the cheese are used in the production of the cheeseburgers. Also assume that Year 1 is the base year. The information used to answer the next 6 questions is below: Quantity (Year Product Quantity (Year 1) Price (Year 1) Price (Year 2) 2) Cars 50 25 100 30 Homes 10 30 15 50 Cheeseburgers 100 5 150 6 Cheese 50 1 75 3

Exports of goods and services 1,872 Imports of goods and services 2,375 Net unilateral transfers -99 Net Investment Income 170 Capital Account -7 Net US acquisition of financial assets 958 Net US incurrence of liabilities 1,391 Net financial derivatives -14 Based on table above, the statistical discrepancy is Group of answer choices 15 8 0. -8 -15

Year 2001 2002 2003 2004 2005 Output Price Nom. GDP Real GDP 50 $23.00 $1,150.00 $1,350.00 52 $ 27.00 $1,404.00 $1,404.00 53 $ 30.00 $1,590.00 $1,431.00 51 $ 34.00 $1,734.00 $1,377.00 56 $31.00 $1,736.00 $1,512.00 Was the economy better off in 2003 or 2004? Explain