a. With the help of a graph, explain and show the welfare effects of domestic subsidies b. With the help of a graph, explain and show the welfare effects of an export subsidy
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- 5. Export subsidies versus production subsidies Complete the following table by indicating whether each statement about domestic production subsidies and export subsidies is true or false. True False Statement When the government makes up the difference between a guaranteed minimum price and the lower price at which farmers actually sell their crop, this is a domestic production subsidy. When the government provides a subsidy to farmers for every ton of wheat exported, this is an export subsidy. A country's domestic production subsidies have less impact on the country's exports than do export subsidies. Domestic production subsidies in a small country cause greater deadweight losses than do export subsidies. ● O O O O16. What is the difference between an agricultural export subsidy and an agricultural production subsidy?12. Government prefers to reduce imports with a tariff instead of a quota depends on whetherA. imports are completely eliminatedB. consumer demand is elastic.c. the demand curve is downward slopingD. barriers prevent new firms from enteringE. production costs are.constant. Thanks
- Why might a tax on domestic consumption of resources critical for national security be a more efficient approach than barriers to imports?Explain how a subsidy on agricultural goods like sugar adversely affects the income of foreign producers of imported sugar.The U.S. subsidizes domestic farmers to ensure that they remain profitable and continue to produce agricultural products. Explain the main argument for ensuring domestic production of agriculture products (even though domestic-produced agriculture costs buyers more than foreign-produced agriculture) and not needing to rely 100% on foreign-produced agriculture. Who are the "winners" of the farming subsidies? How do they benefit? Who are the "losers" of the farming subsidies? What does it cost them?
- Complete the following table by indicating whether each statement about domestic production subsidies and export subsidies is true or false. Statement When the government subsidizes farmers of an agricultural crop, this is a domestic production subsidy. When the government provides a subsidy to farmers for every ton of wheat produced, this is an export subsidy. A country's domestic production subsidies have less impact on the country's exports than do export subsidies. Domestic production subsidies in a small country cause greater deadweight losses than do export subsidies. True Falseprice supply domestic price- $35 import price + tarif $20 demand 100 300 500 650 850 quantity Based on the graph above, if there is a tariff of $15 per unit imposed on imports in this market: A. 750 units will be imported and tariff revenue to the government will be $11.250 B. 650 units will be imported and tariff revenue to the government will be $9,75O C. 350 units will be imported and tariff revenue to the government will be $5.250 D. 300 units will be imported and tariff revenue to the government will be $4,500The figure below shows the domestic demand (Dd) and domestic supply (Sd) curves of mopeds in a country before an import quota is imposed by the government. After the imposition of the quota, the maximum import quantity is QQ. $800 $750 $715 0 0.4 0.5 0.6 1.5 1.8 2.0 Olose $29.75 million. gain $21.5 million. Sa gain $31.5 million. lose $10 million. If the government auctions the quota licenses, the importing nation will Sa+QQ World price New export price with quot Da Quantity (Millions of Mopeds per year)
- Partial equilibrium effects of import quota: large country Can you show that with the graph? Answer correct and explain within 40mins will give you positive feedback.Economics 4. Depict on graph and briefly explain economic consequences of export subsidy: • for domestic exporters; • for domestic consumers; • for government budget; • for national economic welfare as a whole.5. Agricultural export subsidies in a small nation The following graph shows the market for wheat in Canada, where De is the demand curve, Sc is the supply curve, and Pw is the free trade price of wheat. Assume that Canada is a relatively small producer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to purchase wheat at the world price with negligible transportation costs. Suppose a subsidy of $80 per ton is granted to exporters in Canada, allowing them to sell their products abroad at prices below their costs. Assume that trade restrictions are also put in place in order to prevent domestic consumers from buying wheat abroad at the world price. Use the grey line (star symbols) to indicate the world price of wheat plus the subsidy on the following graph. Then use the black point (plus symbol) to indicate the price of wheat in Canada and the quantity demanded at that…
