3.25 1.75 89 there's a price-gouging law in effect preventing gas stations from raising prices, then there will be an excess + of million allons of gas. uppose the government wants to alleviate the market imbalance. The best policy solution is to impose and the would be $ million. (Include two decimal places.) import tariffs
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- Refer to the graph to answer this question. Based on the Tariff graph, which of the following statements is most true? A. Government revenue is reduced by a tariff. B. A tariff increases consumer surplus. C. A tariff reduces consumer surplus. D. A tariff increases imports.What are the factors affecting the internal and external balance of the economy of a country? Why do countries try and achieve this internal and external balance?2. Let assume China is the domestic country and the USA is the foreign country. An iPod is cost ¥612 in China and$100 in USA. (1) Calculate the absolute PPP in China. (2) If the price in China is increasing to ¥650, calculate the absolute PPP in China and conclude the RMB is depreciating or appreciating? Hello, expert. According to Bartleby guidelines you should answer 1 question and 3 subquestions. Like. 1. A) B) C). don't hurry up and please give me full answers thank you very much .. like like like.
- 1 Read her Majesty’s Treasury Report and answer the following questions. Let us assume that as a consequence of step 3., the UK instantly begins importing US cars instead of European cars. Draw a new graph, showing the domestic equilibrium, the European price, the US price, tariffs and the new equilibrium price and quantity, with all the welfare effectsTHE SHRINKING STEEL INDUSTRY Few industries have been harder hit by rising imports – and have made greater demands at the political level – than the steel industry. Its persistence apparently paid off when, in March 2002, George W. Bush agreed to impose a tariff of up to 30% on steel imports. The steel industry claimed that was barely enough to offset the combination of a stronger dollar and ‘‘dumping’’ by steel companies around the world because of a glut of excess capacity. It also requested, but did not receive, money from the government to pay the retirement and healthcare benefits for those pensioners who had received generous benefits when the industry was profitable. Without jettisoning this cost, the industry claimed, it could not consolidate and hence become competitive against worldwide competition. The positive impacts of such a move to employers and shareholders of the steel industry are obvious. But what about the negative impacts?…The following graph shows the domestic market for oil in the United States, where SDSD is the domestic supply curve, and DDDD is the domestic demand curve. Assume the United States is considered a large nation, meaning that changes in the quantity of its imports due to a tariff influence the world price of oil. Under free trade, the United States faced a total supply schedule of SD+WSD+W, which shows the quantity of oil that both domestic and foreign producers together offer domestic consumers. In this case, the free-trade equilibrium (black plus) occurs at a price of $240 per barrel of oil and a quantity of 9 million barrels. At this price, the United States imports 6 million barrels of oil. Suppose the U.S. government imposes a $60-per-barrel tariff on oil imports.