How much revenue does the government receive with this import tariff?Note- the amount imported is 80 goods. Idk how to calculate this That is correct!МаMarket: Trade and TariffWorld Price plus TariffНаррyContact Lens Market: World Price plus TariffEconomics240MentorWorldQuantity200 -QuantityWorldPricePrice +160 -I should also note that the domestic government collects therevenue generated by the tariff.SuppliedDemandedPrice120-Tariff80240608040 -Vivan20202206080120160240200Can you explain this in more detail for our listeners?40402006080• Quantity Supplied - Quantity Demanded - World Price - World Price + Tariff6060180608080801606080Julio1001001406080Oh, sure! For each box of contacts that is imported, thegovernment receives the tariff – in this case $20.12012012060801401401006080160160806080Vivan180180606080Oh, I see - so how much revenue does the government receive withthis import tariff?200200406080220220206080Julio2402406080

A tariff is a tax imposed by a government of a country on imports or exports of goods.

That is correct! Ма Market: Trade and Tariff World Price plus Tariff Наpрy Economics Contact Lens Market: World Price plus Tariff 240 Mentor World Quantity 200- Quantity World Price Price + 160 I should also note that the domestic government collects the revenue generated by the tariff. Supplied Demanded Price 120- Tariff 240 60 80 40 Vivan 20 20 220 60 80 160 Can you explain this in more detail for our listeners? 40 40 200 60 80 - Quantity Supplied Quantity Demanded World Price - World Price + Tariff 60 60 180 60 80 80 80 160 60 80 Julio 100 100 140 60 80 Oh, sure! For each box of contacts that is imported, the government receives the tariff - in this case $20. 120 120 120 60 80 140 140 100 60 80 Vivan 160 160 60 80 180 180 60 60 80 Oh, I see - so how much revenue does the government receive with this import tariff? 200 200 40 60 80 220 220 20 60 80 Julio 240 240 60 80 శ్రీ శ్రీ శ్రీ శ్రీ శ్లీ శ్లీ శ్లి శ్లీ శ్ి 8-# •

That is correct! Ма Market: Trade and Tariff World Price plus Tariff Наpрy Economics Contact Lens Market: World Price plus Tariff 240 Mentor World Quantity 200- Quantity World Price Price + 160 I should also note that the domestic government collects the revenue generated by the tariff. Supplied Demanded Price 120- Tariff 240 60 80 40 Vivan 20 20 220 60 80 160 Can you explain this in more detail for our listeners? 40 40 200 60 80 - Quantity Supplied Quantity Demanded World Price - World Price + Tariff 60 60 180 60 80 80 80 160 60 80 Julio 100 100 140 60 80 Oh, sure! For each box of contacts that is imported, the government receives the tariff - in this case $20. 120 120 120 60 80 140 140 100 60 80 Vivan 160 160 60 80 180 180 60 60 80 Oh, I see - so how much revenue does the government receive with this import tariff? 200 200 40 60 80 220 220 20 60 80 Julio 240 240 60 80 శ్రీ శ్రీ శ్రీ శ్రీ శ్లీ శ్లీ శ్లి శ్లీ శ్ి 8-# •

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 4PA

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Similar questions

Trade has income distribution effects. For example, suppose that because of a government-negotiated reduction in trade barriers, trade between Germany and the Czech Republic increases. Germany sells house paint to the Czech Republic. The Czech Republic sells alarm clocks to Germany. Would you expect this pattern of trade to increase or decrease jobs and wages in the paint industry in Germany? The alarm clock industry in Germany? The paint industry in Czech Republic? The alarm clock industry in Czech Republic? What has to happen for there to be no increase in total unemployment in both countries?
The country of Pepperland exports steel to the Land of Submarines. Information for the quantity demanded (Qd) and quantity supplied (Qs) in each country, in a world without trade, are given in Table 34.6 and Table 34.7. What would be the equilibrium price and quantity in each country in a world without trade? How can you tell? What would be the equilibrium price and quantity in each country if trade is allowed to occur? How can you tell? Sketch two supply and demand diagrams, one for each country, in the situation before trade. On those diagrams, show the equilibrium price and the levels of exports and imports in the world after trade. If the Land of Submarines imposes an anti- dumping import quota of 30, explain in general terms whether it will benefit or injure consumers and producers in each country. Does your general answer change if the Land of Submarines imposes an import quota of 70?
How would direct subsidies to key industries be preferable to tariffs or quotas?
Are the gains from international trade more likely to be relatively more important to large or small countries?