Q: economics question. *What were the policy responses used to combat the shortage of hand sanitizer,…
A: The COVID-19 pandemic had devastating impact on basic need products due to less supply and more…
Q: Which of the following is TRUE? O 000 E=EVwSI/EVWPI E=EVSI/EVPI E=EVwOPI/EVwoSI E=EVPI/EVSI
A:
Q: The demand for the book is P = 82 - 3Q. A bookstore can order copies that will cost $2. If the…
A: A connection between the one variable and its determinants is described by a demand function. It…
Q: At a total cost of $3,100, a company can produce 4 scooters. It has fixed costs of $1,000. If it…
A: Production cost When a company produces a good or offers a service, it incurs production expenses,…
Q: You are charged this tax by the federal government on your yearly pay. This is: Income Tax. Sales…
A: In the United States, federal government charges different types of taxes for different purposes…
Q: Ways in which China has a socialist market economy?
A: The term "economic system" refers to the many laws and ordinances that make up the economy. In terms…
Q: If demand remains constant and supply decreases, what happens to price and quantity? A.…
A: Demand and supply The relationship between the quantity of a good that producers want to sell at…
Q: A consumer of two goods has utility u(1₁,₂)=212. She can purchase each good i = 1,2 at a price of p,…
A: Consumer's Marshallian Demand curve actually indicated consumer's demanded quantity of a specific…
Q: In 1885, first-class postage for a one-ounce letter cost $0.02. The same postage in 2015 costs…
A: The term "compounding" refers to "the rise in value of an investment due to the interest generated…
Q: 3. Suppose a monopolistically competitive firm's demand is given by P = 4,000-2Q And its cost…
A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are…
Q: Ima Good-Student enrolls in ENGR 3202. She had considered purchasing a new vehicle but decides that…
A:
Q: The following graph shows the daily market for wine. Suppose the government institutes a tax of…
A: Supply and demand, in economics, is the connection between the quantity of a commodity that…
Q: Consider how the COVID-19 pandemic has caused major disruption in global supply chain affecting the…
A: A macroeconomic model called the AD-AS, or aggregate demand-aggregate supply model, uses the link…
Q: 5. The empirical fit of the production model: The table below reports per capita GDP and capital per…
A: The Gross Domestic Product is a monetary indicator that reflects the market value of all services…
Q: 問題14/14 Please judge whether the following function has the characteristics of CRS, IRS or DRS.…
A: Economics of scale Economies of scale refer to the idea that when a company grows, the average…
Q: 15. Annual percentage yields to maturity of Treasury Bills, Notes, and Bonds on January 24, 2020 are…
A: Treasury bills(T-bills) are the instrument of the money market in which the investments are made for…
Q: 3. a. What do we mean when we say the the SOP in Total is in Deficit or The BOP in Total tions were…
A: Since you have asked multiple question, we will answer first question for you. If you want any…
Q: Let M be the quantity of money and i the interest rate in decimal form. Suppose that money demand is…
A: Demand for money (Md) = 100−20×(1+i) Supply of money (Ms) = 79
Q: Which of the following is true of an economic theory? a. It uses complex mathematical equations to…
A: We know that It is a bunch of principles and ideas which explain the functioning of the economy or…
Q: Firm cost equation: TC = 49 - 4Q+Q² Market demand: Q = 530 - 4P Solve for how many firms will serve…
A: In perfect competition, equilibrium is found by the condition of equality of MC(marginal cost) and…
Q: When calculating nominal GDP, the volume of output is measured using? Multiple Choice weight.…
A: GDP is the aggregate output produced within the political boundaries of a country within a time…
Q: Diego and Thuy had the same negative experience at a restaurant (slow service and cold food). Diego…
A: Behavioral economics is the study to show, how the psychological, emotional, cultural, and social…
Q: A firm produces output via the function: Q = L - (L²/800), where Q is the output per week and L is…
A: Input cost minimization:- According to the conception of a firm, a firm will strive to maximize…
Q: Given the total cost equation: level of Q yields the minimum cost of production? TC = 32 + 2Q², what…
A: Average total cost is implied as the total of all production costs divided by the total quantity of…
Q: If property rights are held or shared by a large number of people, and each person has veto power,…
A: A veto refers to a legal power on unilaterally stopping the official action. A free rider problem…
Q: Explain why each of the following statements is True, False, or Uncertain according to economic…
A: In the first part, as the marginal cost curve is the supply curve for the firm as well. Hence…
Q: A consumer has preferences over two goods represented by the utility function u(x₁,7₂) = 21+2√32.…
A: Utility function : U = x1 + 2 (x2)0.5 Optimal consumption point is achieved at the point where…
Q: Consider a government that raises money in a two-good economy by taxing good 1 at a rate of t per…
A: To determine the revealed preferences firstly we need to analyze the impact of change from quantity…
Q: What would a Keynesian likely recommend in response to a recession?
A: The appropriate response to a recession, in accordance with Keynesian macroeconomic theory, is to…
Q: WHAT IS THE INFLATION RATE IF THE PRICE OF AN ELECTRIC FAN BECOMES P2000.00 IN 5 YEARS FROM THE…
A: The progressive erosion of purchasing power may be conceptualized as rising prices, sometimes known…
Q: When marginal-cost curve lies: a. above the ATC curve, ATC rises b. above the AVC curve, ATC rises…
A: When talking about the relationship between MC, ATC, and TFC, it can be said that there is a…
Q: what is a health economist & what do they do?
A: Health care economics deals with the effectiveness and financial efficiency of health and health…
Q: c. According to the principle of comparative advantage, what product should Japan export? What…
A: According to your request, we are providing the solutions only for subparts C, D and E. Comparative…
Q: 4. The price of a Universal Testing Machine doubles in 15 years. What is the compounded yearly…
A: Terms Terms 100,000.00 13.34% 1 2 13,334.00 13,334.00 3 13,334.00 4 13,334.00…
Q: How exchange rates can affect a firm’s global sales.
A: We know that In the global market, products and services are traded on the basis of the exchange…
Q: QUESTION 13 If a country's GDP decreases, but its debt remain unchanged during that year, then the…
A:
Q: urgent Question 1 [The Singapore Government has taken various fiscal policy measures to manage the…
A: At the time of recession when the economy was badly hit. Then in order to support the output in the…
Q: Leah's Pizza delivers several types of pizza, which is sold for 499 pesos each and costs 300 pesos…
A: The anticipated value of a financial investment's return is known as the anticipated return (or…
Q: 5. Calculating tax incidence Suppose that the U.S. government decides to charge beer producers a…
A: There are two types of taxes: Direct taxes, and indirect taxes. Taxes imposed on commodity comes…
Q: Total population 20,000 Working-age population 15,000 Employment…
A: The labor force participation rate is an estimate of an economy's active workforce.
Q: Why would a Keynesian policy response not make much sense in response to a minor recession like the…
A: The appropriate response to a recession, in accordance with Keynesian macroeconomic theory, is to…
Q: In equilibrium, the most common conditions to both unregulated monopoly and to perfect competition…
A: Market refers to the place where buyers and sellers meet each other and play their buying and…
Q: If the expected real interest rate of 5% and expected inflation rate of 3%, then the nominal…
A: Meaning of Interest Rate: Here, the term interest rate is that exceeded amount being charged by…
Q: Consider a government that raises money in a two-good economy by taxing good 1 at a rate of t per…
A: Revealed preference theory, established by economist Paul Anthony Samuelson in 1938, is a way of…
Q: George and Laura live on an island in the Caribbean. Their diet is fish and biscuits. George can…
A: A country or person is said to have comparative advantage in producing a particular product if the…
Q: Kate deposits P5,000 to her bank account every year when she was in high school for four years to…
A: In the future worth method of alternative comparison, the future worth of various alternatives will…
Q: QUESTION 9 Say that Alland can produce 32 units of food per person per year or 16 units of clothing…
A: Comparative advantage is the capacity of an economy to produce a particular good or service at a…
Q: What are some potential approaches to achieving global food security
A: Lack of food security is a multidisciplinary problem that is influenced by various sociological,…
Q: please teach explain step by step, A consumer has preferences over two goods represented by the…
A: Utility function : U = x1 + 2 (x2)0.5 Optimal consumption point is achieved at the point where…
Q: When income rises by 3 percent and other things remain the same, the quantity demanded of good C…
A: The sensitivity of the quantity(Q) demanded for a specified good to a change in the actual income(Y)…
3. How does a tariff affect someone?
Step by step
Solved in 2 steps
- What is a carry trade?Why does the efficiency of an import tariff depend on the price elasticity of demand?The graph to the right shows the supply and demand for Japanese-made automobiles in the United States. Assume that Japanese-made and U.S.-made automobiles are of the same quality and are considered to be perfect substitutes. Suppose that the U.S. government imposes a tariff on Japanese-made automobiles. 1.) Using the line drawing tool, show the effect on the market for Japanese-made automobiles. Properly label your line. 2.) Using the point drawing tool, identify the new equilibrium price and quantity. Label it 'E₂'. Carefully follow the instructions above, and only draw the required objects. As a result of the tariff, the price of Japanese-made cars rises and the quantity falls. In the market for American-made cars, there will be and thus the price of American-made cars will equilibrium quantity will and the Price per Automobile ($) S Japanese-made Automobiles (thousands)
- 3. Two large countries are "players" in a game in which they each choose the tariff that maximizes welfare within their own country given what tariff the other country is charging. a. The tariff charged by each country is a decreasing function of the tariff the other country is charging. Why? b. Is the same thing true for a small country? That is, will a small country's optimal tariff depend upon the tariffs other countries charge? Why or why not? Asked this question once before and the answer was complete nonsense so please try to answer the questions.ЕОC 10.05 Japan imports crayons into its country; they are a price taker in this market. Suppose the world price of crayons is $5. If Japan imposes a $1 tariff on crayons, what would be the domestic price of crayons and what will happen to the quantity bought? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The quantity bought will increase and the price will be $6. b The quantity bought will fall and the price will be $6. The quantity bought will fall and the price will be $4. d. The quantity bought will increase and the price will be $4.Korea’s demand for computers isQK = 2, 000 − PkIts supply isQK = −200 + PkChina’s demand for computers isQC = 1, 000 − Pc Its supply isQC = Pc1. Suppose that Korea imposes a specific tariff of $100 on computerimports. Calculate the price of computers in each country and thequantity of computers supplied and demanded in each country. Alsocalculate the volume of trade.
- The figure provided shows the market for calculators. Price of calculators $45 40 S 30 20 20 10 5 world price with tariff world price D 50 100 200 300 400 500 600 700 800 900 Quantity of calculators Deadweight loss arising from the tariff is, in numerals, $ Need help on this question? 目 Read the ebook page on this topic (no penalty) Get a hint (fewer points)When NAFTA was being debated in the U.S. Congress, Representative Jerry Lewis of California said: “Bill Johnson owns the largest Caterpillar distributorship in the West. There is currently a 20% tariff on his products sold in Mexico. Caterpillar has a 50 percent share of the Mexican market. The other half is dominated by Komatsu Company of Japan. Bill says, 'Imagine what will happen when the 20 percent tariff comes off our tractors and it remains on the ones from Japan.' Under what circumstances will this effect of NAFTA be beneficial, and when will it be harmful, to (i) the U.S., (ii) Mexico, and (iii) Japan?Economics Question
- Which of the following statements is false? Question 7Answer a. If the United States imposes a tariff on Japanese car imports, the price of cars in the United States is likely to increase. b. If Japan imposes a quota on car exports to the United States, the price of cars in the United States is likely to increase. c. If the United States imposes a quota on Japanese car imports, the price of cars in the United States is likely to increase. d. If Japan imposes a subsidy on car exports to the United States, the price of cars in the United States is likely to increase.The figure provided shows the market for calculators. Price of calculators $45 40 30 world price with tariff 20 10 world price 50 100 200 300 400 500 600 700 800 900 Quantity of calculators Deadweight loss arising from the tariff is, in numerals, $1. Years ago, an apple producer argued that the United States should enact a tariff, or a tax, on imports of bananas. His reasoning was that “the enormous imports of cheap bananas into the United States tend to curtail the domes-tic consumption of fresh fruits produced in the United States.”. a. Was the apple producer assuming that apples and bananas are substitutes or complements? Briefly explain. b. If a tariff on bananas acts as an increase in the cost of supplying bananas in the United States, use two demand and supply graphs to show the effects of the apple producer’s proposal. One graph should show the effect on the banana market in the United States, and the other graph should show the effect on the apple market in the United States. Be sure to label the change in equilibrium price and quantity in each market and any shifts in the demand and supply curves.