Q: 21 of 25 (14 complete) ▼ HW Score ter 3.11 1 2 LRASSRAS, LRAS SRAS. SRAS.
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Q: Fill in the blank vC TC AFC AUC ATC MC 50 n/a nca 10 10 18 2. 30 80 16.62 20 36.67 30 100 12.50…
A: At zero quantity TC is 50 so fixed quantity is 50 TC=FC+VC AFC=TFC/Q AVC=TVC/Q ATC=AFC+AVC MC=∆TC/∆Q
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- IHRM practices are sector-specific becausea) Some sectors trade more in the alobal economy than othersb) Sectors draw on material, technological and human resources in different waysc) There are sectors in which exports are negligibled) Skills, training, recruitment practices depend on the key resources within an industry (e.g. technology, brand,Under the WTO's rules, which of the following is NOT a prohibited subsidy? The government gives a tax incentive to companies that export 100% of what they produce The government gives a tax incentive to companies that use 30% domestically produced components The government gives a tax incentive to companies that invest in Research and Development (R&D), but does not require them to export any specific amount or use a specific amount of domestic contentOne reason that a large share of the trade between high-income industrial economies is intra-industrytrade is becauseA) Intra-industry it is more advantageous than inter-industry tradeB) high-income industrial economies compete with each other with the same good.C) high-income industrial economies have very different factor endowments in absolute terms.D) it allows firms to take advantage of economies of scale.
- A quota rent is: O levied as a fixed charge for each unit of a good imported. O a quota on trade imposed by the exporting country. O the extra profit producers make when supply is artificially limited by an import quota. O levied as a proportion of the value of the imported good. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.10. Suppose that increased international trade makes product markets more competitive in the U.S. Given this informa- tion, we would expect to observe which of the following? an upward shift in the PS curve B. a downward shift in the PS curve C. an upward shift in the WS curve D. a downward shift in the WS curve E. none of the aboveConsider the standard trade model with two goods and two factors, labour and capital(d) Explain the difference between export-biased growth and import-biased growth,commenting on their economic impact. (e) Discuss two reasons why international trade has strong effects on the distribution ofincome.(f) Explain why economists often consider the effects of free trade on incomedistribution to be less important than the effects on overall welfare. Discuss anexample where the distributional effect has had more lasting importance.
- Assume that you have been hired by an International Organization to be consulted on variousissues that the country Motherland faces. For this exercise, assume that Motherland is a smallagricultural economy. (a) Motherland imports electronics from the United States. The government of Motherland is considering to impose quotas on these electronics imports coming from the United States. Would you recommend it? Explain your answer. In your explanation, distinguish the effect on the consumers of electronics, the domestic producers of electronics and the government. (b)The government of Motherland wants to jump start industrial production. Over time the main objective is to convert this agricultural economy into an industrial nation. On the basis of the experiences of Argentina and Singapore, what policies would you suggest?Suppose that the world demand and supply elasticities of crude oil are -0.906 and 0.515, respectively. The current equilibrium price is $30 per barrel and the equilibrium quantity is 16.88 billion barrels per year. Derive the linear demand and supply equations. Now suppose the world supply curve you derived above consists of competitive supply and OPEC supply. If the competitive supply equation is: SC = 7.78 + 0.29P, what must be OPEC's level of production in this equilibrium? Now suppose social and political unrest in some non-OPEC producing countries reduced the competitive supply by 30 percent, what happens to the world price of crude oil?Suppose country A and B have a labour force of 1 and produce hops and barley using only labour. Country A's unit labour cost are 0.5 for hops and 0.5 for barley, country B's 0.2 for hops and 0.4 for barley. Suppose that both are needed to brew beer in equal quantitiy, so that both national and international demand has the property that equal amounts of barley and hops are demanded. How much more beer (as a percentage) will be brewed under international trade than in autarky? Please enter the percentage rounded to a whole number (up or down is both acceptable) without the percentage sign.
- Please answer each question with sufficient detail. Relevant detailed responses are highly r$ewarded. If you consult any sources, then you should provide both in-text citations and references at the end of each response. You need to make sure at least consult your textbook for your responses. 1. Suppose that the production of $1 miilion worth of steel in Canada requires $100,000 worth of taconite. Canada's nominal tariff rates for importing these goods are 20 percent for steel and 10 percent for taconite. Given this information, calculate the effective rateof protection for Canada's steel industry.Q47 "Canadians, on average, are worse off when some manufacturing jobs migrate from Canada to low-wage countries in Central America." This statement is _____ because... a. Incorrect; the permanent gains to consumers from lower prices outweigh the temporary losses to the displaced manufacturing workers. b. Correct; the loss of manufacturing jobs leads to permanent income losses in Canada. c. Correct; Canadian firms cannot compete with production in low-wage countries. d. Incorrect; low-wage countries do not produce manufactured goods. e. Incorrect; there are no Canadians made worse off by such an event.Consider a small country that exports steel. Supposethat a “pro-trade” government decides to subsidizethe export of steel by paying a certain amount foreach ton sold abroad. How does this export subsidyaffect the domestic price of steel, the quantity ofsteel produced, the quantity of steel consumed, andthe quantity of steel exported? How does it affectconsumer surplus, producer surplus, governmentrevenue, and total surplus? Is it a good policy fromthe standpoint of economic efficiency? (Hint: Theanalysis of an export subsidy is similar to the analysisof a tariff.)
