An increase in the demand for US goods imported into South africa will have the following impact in the South African market: The volume of exports will increase. True False
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An increase in the
The volume of exports will increase.
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- Country C imports 80,000 metric tons of steel from Country U and produces domestically 80,000 metric tons per year. The world price of steel is $500 per metric ton. Assuming linear schedules, research analysts estimated the price elasticity of domestic supply to be 0.50 and the price elasticity of domestic demand to be -0.25 in the current market equilibrium. Country C imposes an import duty of $150 per metric ton that caused the world price to fall by 10%. Summarise and analyse the quantity of steel produced, consumed and imported in Country C. Analyse and discuss the welfare gain from trade in Country C. Show your answers of the steel market with a proper diagram. Imports steel from Country U = 80,000 metric tons of steel Produce domestically = 80,000 metric tons per year Country C total steel consumption = 160,000 metric tons per year Price of steel per metric ton = $500Coffee is now the second most traded commodity in the world after crude oil. Not only has demand for various coffee products risen sharply in Western countries in recent years, increasingly there is also greater taste for coffee drinks in developing countries such as China and India. In addition, by-products of coffee beans have become popular such as coffee leaves which can be used to brew a tea with known health benefits. However, as a natural produce, coffee plants are subject to weather conditions. Recently major producers such as Brazil have been plagued by droughts. Using the demand-supply model, explain the likely effects of these phenomena in the coffee bean market. How can a market analyst use this information to her advantage?occurs when a company exports to a foreign market at a price that is either lower than the domestic prices in that country or less than the cost of production.
- Country C imports 80,000 metric tons of steel from Country U and produces domestically 80,000 metric tons per year. The world price of steel is $500 per metric ton. Assuming linear schedules, research analysts estimated the price elasticity of domestic supply to be 0.50 and the price elasticity of domestic demand to be -0.25 in the current market equilibrium. Country C imposes an import duty of $150 per metric ton that caused the world price to fall by 10%. (a) Summarise and analyse the quantity of steel produced, consumed and imported in Country C. Analyse and discuss the welfare gain from trade in Country C. Show your answers of the steel market with a proper diagram. (b) Analyse the effects of the consumer surplus, producer surplus, government revenue and deadweight loss in the Country C steel market with the tariff. What are the terms of trade of the Country C steel market after the tariff was imposed? Explain the welfare effects of both countries.effect of fiscal and montary policy on price stability in zimbabweIn the United States, imposing a tariff on imported vitamin D3 would: Group of answer choices increase total American consumption of vitamin D3. increase American consumption of domestically produced vitamin D3. reduce exports of vitamin D3. decrease domestic production of vitamin D3.
- For a large country import tariffs will yield a price increase for domestic consumer that is A higher than the tariff itself B equal to the tariff itself C smaller than the tariff itselfSuppose the world price of oil is $15 per barrel. At that price, the United States imports 400 million barrels daily and consumes 600 million barrels daily. The government then imposes a $5 per barrel tax on oil imports. For every dollar increase in oil prices, domestic consumption decreases by 20 million barrels per day, while domestic production increases by 40 million barrels per day. 1. What will be the new oil price (assuming world supply is perfectly elastic at $15)?If the ratio of the dollar price of a U.S. toy to the dollar price of the same toy sold in China is greater than 1, U.S. toys are ________ than Chinese toys and retailers in the United States should ________. cheaper; buy the toys from American suppliers cheaper; buy the toys from Chinese suppliers more expensive; buy the toys from American suppliers more expensive; buy the toys from Chinese suppliers
- Domestic producers of microprocessors send a lobbyist to the U.S. government to request that the government impose trade restrictions on imports of microprocessors. The lobbyist claims that the U.S. microprocessor industry is new and cannot currently compete with foreign firms. However, if trade restrictions were temporarily imposed on microprocessors, the domestic microprocessor industry could mature and adjust and would eventually be able to compete in the world market. Which of the following justifications is the lobbyist using to support their argument in favor of the trade restriction on microprocessors? National-security argument Infant-industry argument Unfair-competition argument Jobs argument Using-protection-as-a-bargaining-chip argumentThe domestic demand and supply for sugar are, respectively, Qd = 60,000 − 400P and QSD = 5,000 + 200P. The foreign supply is QSF = 40,000 + 200P. What is the total supply of sugar in the domestic market? Q = 45,000 + 400P. Q = 5,000 + 200P. Q = 35,000 + 200P. Q = 55,000 + 400P.Identify the following statement's accuracy and briefly state why. government intervention is needed to assist the growth of the local economy. Import restriction is used to limit the supply of foreign products, thus artificially increasing the price of foreign products. Import restrictions such as import tax will increase the price of both foreign and local products. Market failure is the equal and efficient distribution of resources in a market. Market failure occurs due to the failure of price mechanism where the supply of a product does not equal the demand of a product, leading to an absence of an equilibrium point in the market.
