Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 26, Problem 5DQ
To determine
The export supply curve, the import demand curve and their impact to determine the equilibrium world price.
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Students have asked these similar questions
Governments sometimes erect barriers to trade other than tariffs and quotas. Which of the following is not an example of this type of trade
barrier?
O a requirement that imports meet health and safety requirements
restrictions on imports for national security reasons
4
O a requirement that the employees of domestic firms that engage in foreign trade pay income taxes
O a requirement that the U.S. government buy military uniforms only from US, manufacturers
Consider the effects of an import tariff in a small country using the graph
below for this question.
Domestic
Supply
Py + t
Pw
Domestic
Demand
50 75 100 125 150
Which area on the graph corresponds to wasted resources due to the
tariff?
O a. W
O b. X
O c. Y
O d. Z
Consider the effects of an import tariff in a small country using the graph
below.
P.
Domestic
Supply
Py +t
Pw
Domestic
Demand
40 45
75
95 105
Q
What are imports with the tariff?
O 30 units
O 45 units
O 50 units
O 65 units
Which of the following statements about foreign trade is
correct? Choose an answer:
O 1. A good is imported if the world market price for this good is higher than the domestic
opportunity costs of producing this good.
O 2. A good is exported if the world market price for this good is lower than the domestic
opportunity costs of producing this good.
3. The levying of a domestic duty rate on an imported good increases the
producer surplus and reduces the domestic consumer surplus.
O 4. If a country has an absolute advantage in one good, it also has a comparative advantage
in that good.
O 5. A particularly productive country can have a comparative advantage in all goods.
Chapter 26 Solutions
Microeconomics
Ch. 26.2 - Prob. 1QQCh. 26.2 - Prob. 2QQCh. 26.2 - Prob. 3QQCh. 26.2 - Prob. 4QQCh. 26 - Prob. 1DQCh. 26 - Prob. 2DQCh. 26 - Prob. 3DQCh. 26 - Prob. 4DQCh. 26 - Prob. 5DQCh. 26 - Prob. 6DQ
Ch. 26 - Prob. 7DQCh. 26 - Prob. 8DQCh. 26 - Prob. 9DQCh. 26 - Prob. 10DQCh. 26 - Prob. 11DQCh. 26 - Prob. 12DQCh. 26 - Prob. 13DQCh. 26 - Prob. 14DQCh. 26 - Prob. 1RQCh. 26 - Prob. 2RQCh. 26 - Prob. 3RQCh. 26 - Prob. 4RQCh. 26 - Prob. 5RQCh. 26 - Prob. 6RQCh. 26 - Prob. 7RQCh. 26 - Prob. 8RQCh. 26 - Prob. 9RQCh. 26 - Prob. 10RQCh. 26 - Prob. 11RQCh. 26 - Prob. 12RQCh. 26 - Prob. 13RQCh. 26 - Prob. 1PCh. 26 - Prob. 2PCh. 26 - Prob. 3PCh. 26 - Prob. 4P
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