8. Assume that now trade happens. The relative supply of wine in the home country is less than the world (because the home country is better at making laptops). What would happen to the relative price of wine to laptop in the home country when trade is allowed? Which group would benefit from this? a) Pwine/Ptaptop would increase and laptop manufacturers would gain b) Pwine/Plaptop would increase and wine makers would gain c) Pwine/Ptaptop would decrease and laptop manufacturers would gain d) Pwine/Plaptop would decrease and wine makers would gain
Q: The selling price of a gadget is $10,000, if paid 90 days from now. Determine the cash price today i...
A:
Q: The fraction of z-scores that fall within z = ±1.60 is ________. a 0.8904 b 0.8729 c...
A: The answer is a. 0.8904. Fraction of values under -1.60 is .0548 Fraction of values under 1.60 is .9...
Q: what are the advantages and disadvantages of Rice Tariffication Law to the rice farmers.
A: Trade is defined as the exchange of commodities and services across the boundary of the country. In...
Q: Suppose that the representative consumers pref- erences change, in that his or her marginal rate of ...
A:
Q: Between 2001 and 2014, by how much did (A) the labor force change? (B) unemployment change? (C) empl...
A: Given:- Data for 2001 and 2014 To determine:- Labor force change, unemployment change and employment...
Q: Which of the following statements correctly describe discouraged workers? (If none of the choices ap...
A: Unemployment refers to the situation where a person who is ready to work does not have work is not a...
Q: demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or on price?
A: Answer is given below
Q: The share of U.S. workers who belong to a labor union has been for 50 years. Select the correct answ...
A: A labor union is an association of laborers that haggles with bosses over wages and working circumst...
Q: Explain why Japan exports automobiles, while the U.S. exports aircraft? Use the prior definitions of...
A: Absolute advantage refers to the ability to produce more goods using same resources or same quantity...
Q: Income distribution is an vital consideration in economics. The Lorenz Curve, as you have learned, i...
A: please find the answer below.
Q: A company produces and sells a consumer product and is able to control the demand by varying the sel...
A: Given demand function is p=38+2700D-5000D2 Note D>1 Total fixed cost =$1000 and variable cos...
Q: Sourabh Gupta can purchase copper bottles for $ 34 per piece and can manufacture it in house where t...
A: Whether outsourcing would be good or manufacturing of the bottle depend on the cost occurence per bo...
Q: Supply and Demand: End of Chapter Problem a. When the price of olive oil goes up, what probably happ...
A: (a) Olive oil and corn oil are substitute goods. An increase in the price of olive oil will make it...
Q: Explain why Japan exports automobiles, while the U.S. exports aircraft? Use the prior definitions of...
A: Trade is defined as the exchange of commodities and services across the boundary of the country. In...
Q: What are the effects of an increase in the current capital stock on real interest rate, aggregate ou...
A: When some good is manufactured, cost takes place and for producing that good process of business fo...
Q: The government has recently introduced a marketable permit program for major polluters where one per...
A: The Pollutant emited by the firm earlier = 400 units The permits granted to the firm for 800 unit...
Q: 1. Consider an economy with L > 1 commodities. Show generally that if Walras' law holds, there is at...
A: According to Walras' law, p1 z1 (p1 , p2 ) + p2 z2 (p1 , p2 ) = 0. In other words, the value of ag...
Q: Refer to Fig. 7.4 and Example 7.4 - 'The Effect of Effluent Fees on Input Choices'.How should the ma...
A: The Environmental Protection Agency is a federal government agency in the United States whose missio...
Q: Nhen buyers of insurance have more information about whether they are high-risk or low-risk than the...
A: While purchasing insurance if one party has more information than other, the situation is called adv...
Q: Question 3 A firm in a competitive price-searcher market faces O a horizontal demand curve at the ma...
A:
Q: The late 19th century city was often dense, crowded, and dirty. This often led to disease and someti...
A: Industrialization was the rapid growth period of the economies because, under the industrial revolut...
Q: Is it possible for total utility to increase while marginal utility diminishes? Explain.
A: The total utility is the total satisfaction that a consumer derives by consuming the goods. The sat...
Q: Identify two benefits of CAFE standards. See additional directions below. Identify two costs of CAFE...
A: CAFE standard is corporate average fuel economy standard in US was implemented in the 1970s. It sets...
Q: Explain the knowledge problem faced when attempting to plan an economy. Does this have any relation ...
A: Government must use fiscal policy to increase employment by increasing aggregate demand in order to ...
Q: If there is a shortage of loanable funds, then • 1) the quantity of loanable funds demanded is great...
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...
Q: ase go to www.federalreserve.gov e and briefly describe the structure of the U.S. Federal Reserve sy...
A: The central banking system of the United States of America is known as the Federal Reserve System. I...
Q: Consider the following statement: "If you are 20 years of age and save $1.00 each day for the rest o...
A: Here we calculate the purchasing power with different interest rate by using the given information ,...
Q: For their birthdays, Vivaan and Saanvi, who are brother and sister, each received 25 iTunes music do...
A: Pareto improvement to a system is said to have occurred when a reallocation of resources leaves no o...
Q: The economy below has a linear production possibility frontier, given by C=Y-G/q. The government has...
A: For inferior goods, quantity demanded decrease if price decrease. Here public good has become relati...
Q: What are the present worth and future worth of P6000 deposited at the end of every month for 4 years...
A: Quarterly deposit = 6000 x 4 =24,000 Quarterly rate of interest rate = 12/400 =0.03 Total periods = ...
Q: Use the following information. The graph below represents the market for coffee. Suppose S2 and D2 a...
A: Initially, the market is in equilibrium at point A where D2 and S2 intersect each other. the reason ...
Q: In a paragraph with a maximum of three sentences, explain the difference between an ordinary busines...
A: Business: The term business refers to an organization which has element occupied with business, or a...
Q: Sally is trying to decide what flavor of cake to make for an upcoming party. She polls some of her ...
A: Approval Method of making a choice is the one in which participants are provided with the choices an...
Q: C2 ... PPF1 12 (0,0) Leisure, I PPF3 Based on your observations from A and B, how do you think that ...
A: We can see that labor supply has not changed from the diagram. Because in both socially optimum poin...
Q: The picture in this exercise describes an economy that is experiencing a boom in total factor produc...
A: Since the maximum amount of leisure is fixed and maximum consumption has increased after technologic...
Q: What will be the value of real GDP if the quantity is 15 and the price is 62?
A: In an economy, real GDP refers to the value of final output generated in a specific year that is exp...
Q: I need clarification on what a "numerical solution" should be in the context of my economic question...
A: Economics is termed as the "Queen of social sciences". And this is so because economics in general c...
Q: All of the following are examples of intellectual property rights, except: Select the correct answer...
A: Intellectual property (IP) alludes to manifestations of the psyche, like creations; abstract and ima...
Q: Can you give me two pros and cons about cashless economy? Also, I need some backgroud information.
A: A cashless economy is one in which online payments such as net banking, mobile banking, digital wall...
Q: For each of the following price elasticity of demand coefficients, calculate the percentage change i...
A: When talking about price elasticity of demand, it explains the sensitivity of consumer's demand deci...
Q: Blana is the manager of a local bank branch in College Station where he consumes bundles of two comm...
A: Utility function of Diana U(x,y)=x+y ... (1) Income of Diana at college station is $5000.
Q: What is the total cost when the marginal product of labor is 15? What is the total variable cost wh...
A: The marginal product of labour can be calculated by dividing change in output by change in labor. To...
Q: Measurement of GDP includes O Stay-at-home labour O Consumption O Environmental damage Free time
A: When talking about GDP, it is the measure of income of a country at a specific point of time, such t...
Q: This means that money is something which can be kept for long periods without deterioration or wasta...
A: In economics, money is defined as a commodity which generally and widely accepted as a medium of exc...
Q: A plant manager considers the operational cost per hour of five machine alternatives. The cost per h...
A: The problem at hand falls within the topic of probabilistic decision-making. EMV stands for anticipa...
Q: Calculate the missing values in the table below by using the provided data collected in the househol...
A: People who are working are considered employed and people who are willing and able and looking for a...
Q: A lower income economy starts off with a per capita GDP of $5,000. How large will the per capita GDP...
A: Given data: per capita GDP of $5,000 Annual growth rates are: 2% for 10 years 2% for 30 years 4% for...
Q: O Suppose a and I play the game twice Xesune mixed otratojes (ran domi zing ameny the three artims) ...
A: Introduction: Strategy might as an alternative be represented as information of the aims, the uncert...
Q: 1. Place the phases of the Business Cycle in order. The phases (in no particular order here) are: Re...
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: The Camera Shop sells two popular models of digital SLR cameras (Camera A Price: $230, Camera B Pric...
A:
Step by step
Solved in 2 steps
- The following graph shows intra-industry trade in the United States for two types of yogurts: Yoplait (a famous French brand) and Dannon (a famoud American brand): 13 12 11. 10 A 9 83 7 2 1 0 -1 10 1 -11 CHG. O GHOI. O HLP. US Market for Yoplait (Y) Supply of Yoplait O GHPK. 8 Demand for Yoplait 9 10 11 12 13 Yoplak 15 12 Price 11 10 A 0 1 2 US Market for Dannon (D) Refer to the above graph. At the price of $6 for Y, and relative to an autarkic situation, intra- industry trade leads to a loss for producers of: Supply of Dannon Demand for Dannon Dannon 10 11 12 13Figure 9-1 Price $50 10 10 15 O 5 units US Supply O 15 units O 10 units O 20 units World price Quantity of leather footwear Figure 9-1 shows the U.S. demand and supply for leather footwear. US Demand Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will be the quantity demanded?QUESTION 11 If the demand for a good increases when incomes rise and decreases when incomes fall, the good is called a normal good. See O True O False QUESTION 12 When exports are subsidized, O a. nations export products in which they have an absolute advantage O b. the amounts of actual labor, raw material, and capital costs of production decrease O C. gains from trade in terms of world output increase O d. nations export products in which they have a comparative advantage e. income is transferred from tax payers to the exporters of subsidized goods QUESTION 13 The graph shows the market for wheat in an economy. The equilibrium price and quantity of wheat bought and sold in the don trade are P2 and Q2, respectively. If the world price of wheat is P3, the change in producer surplus due to free trade will be eq Figure 18.1 Domestic Supply PA Click Save and Submit to save and submit. Click Save All Ansuwers to save all answers.
- The following graph shows intra-industry trade in the United States for two types of yogurts: Yoplait (a famous French brand) and Dannon (a famous American brand): 13 12 11. 10 A 9 7 1. -1 0 -11 O AKL. O AGH. Supply of Yoplait 3 O GHLK. O HPL. US Market for Yoplait (Y) Demand for Yoplait Yoplak 10 11 12 13 14 15 -1 12 Price 11 10 A 0 US Market for Dannon (D) Refer to the above graph. At the price of $6, intra-industry trade leads to a consumers surplus for Y equal to: Supply of Dannon Demand for Dannon Dannon 10 11 12 131. Two countries produce and consume T-shirts: the US and the ROW. Problems 1-2 are based on the supply and demand schedules for the two countries given below. Note: The supply and demand curves are straight lines. Quantities are in millions of T-shirts. P 10 2 3 4 5 6 7 8 9 11 13 14 15 16 12 0 This problem asker S 0. 0 1 2 3 9 10 11 12 0 0 0 4 5 6 7 8 US D 32 30 28 26 24 22 20 18 16 14 12 10 8 6 4 2 0 S 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 ROW D 13 12 11 10 9 8 7 6 5 4 3 2 1 0 0 08. Assume that the production of cement also produces a substantial amount of air pol- lution and that a technology is available that can lower the pollution but with some- what higher production costs for the cement. Because of the availability of raw materials in Lindertania, it produces large amounts of cement, and its exports supply most demand in Pugelovia. But the air pollution from Lindertania's production blows into Pugelovia, causing a noticeable deterioration in Pugelovia's air quality. Although Lindertania suffers some harm itself from this air pollution, it does not now have any policy to reduce the pollution. The Pugelovian government wants to address this air pollution problem. a. If the two countries' governments cooperate, what is the best solution to address the problem? Explain. b. If Pugelovia must come up with a solution on its own, what should the Pugelovian government do? Explain.
- The following figure illustrates the demand and supply schedules for pocket calculators in Mexico, a "small" nation that is unable to affect the world price. 14 8 6 3 2 0 $ 10 40 60 80 SMexico Priceworld+Tarrit Refer to the above figure. In the O a. 40 calculators O b. 80 calculators O c. 10 calculators O d. 60 calculators 110 Price world Omexico Pocket Calculators of trade, Mexico produces and QUESTION 5 Which of the following is not an example of non-tariff measures: O a. Deployment of a new import-competing technology. O b. Cost-increasing measures. O c. Tax-like measures. O d. Government procurement policies.2. Suppose cheap mountain bikes are made in both the US and the Philippines. The supply and demand for each market are given by: US Qd = 9110 – P Qs = 100P – 2000 Philippines Qа 3D 100— 0.5P Q 3 Р- 20 Find the autarky equilibrium price and quantity sold in each country. b. Now suppose the two countries engage in international trade with each other. Find the combined supply and demand equations. Now find the trade price and quantity (world total quantity and imports/exports). Comment on the trade price and the relative size of the two markets. d. а. с. In general, which country will gain relatively more by engaging in international trade. Explain briefly.The following graph shows intra-industry trade in the United States for two types of yogurts: Yoplait (a famous French brand) and Dannon (a famoud American brand): -1 13 12 11 10 A 9 8G 7 2 Price 1. 0 0 2 US Market for Yoplait (Y) Supply of Yoplait 5 6 7 Loss of LQM. Gain of LQM. Loss of KLMR. Demand for Yoplait Gain of KLMR. Yoplak 9 10 11 12 13 14 12 Price 11 10 A US Market for Dannon (D) 2 3 4 5 7 Supply of Dannon Refer to the above graph. At the price of $6 for D, intra-industry trade leads to which of the following for the United States: 8 Demand for Dannon Dannon 9 10 11 12 13
- 1. The United States currently imports all of its coffee. The annual demand for coffee by U.S. consumers is given by the demand curve Q = 250 – 10P, where Q is quantity (in millions of pounds) and P is the market price per pound of coffee. World producers can harvest and ship coffee to U.S. distributors at a constant marginal (= average) cost of $8 per pound. U.S. distributors can in turn distribute coffee for a constant $2 per pound. The U.S. coffee market is competitive. Congress is considering a tariff on coffee imports of $2 per pound. a. If there is no tariff, how much do consumers pay for a pound of coffee? What is the quantity demanded? b. If the tariff is imposed, how much will consumers pay for a pound of coffee? What is the quantity demanded? c. Calculate the lost consumer surplus. d. Calculate the tax revenue collected by the government. e. Does the tariff result in a net gain or a net loss to society as a whole?Consider that the new more eco-friendly coal briquettes for heating stove fire costs 3,750₮ per bag of 25kg. Yet the same amount of raw unprocessed coal costs 2,000₮ for about the same 25kg bag. As you can imagine people will keep buying the cheaper raw coal for the winter cold months. a. Please draw side-by side the supply and demand diagrams of a Raw coal and New processed coal bags. Mark all the necessary points and units that we normally mark. b. What kind of an externality would you say this RAW coal has and how would it impact the bystanders?c. We can't precisely measure the cost of the actual externality from raw coal, but we can almost certainly assume that at least the amount of price difference is the externality cost. What would you recommend the government do to improve the situation? Show it on the graph and mark to clearly suggest your solution.Explanation of four factors which can shiftthe world demand foroil, indicating clearly the direction of the shifto Explanation of four factors which can shiftthe world supply of oil, indicating clearly the direction of the shift.