MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter 18, Problem 7SQ
To determine
The meaning of tariff.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Namibia is contemplating on imposing an export subsidy to encourage its businesses to export more. with the use of the diagram, discuss the effect of such an export sudsidy
Economics
4. Depict on graph and briefly explain economic consequences of export subsidy: • for domestic exporters; • for domestic consumers; • for government budget; • for national economic welfare as a whole.
How much revenue does the government receive with this import tariff?
Note- the amount imported is 80 goods.
Idk how to calculate this
Chapter 18 Solutions
MACROECONOMICS FOR TODAY
Ch. 18.4 - Prob. 1GECh. 18.6 - Prob. 1GECh. 18 - Prob. 1SQPCh. 18 - Prob. 2SQPCh. 18 - Prob. 3SQPCh. 18 - Prob. 4SQPCh. 18 - Prob. 5SQPCh. 18 - Prob. 6SQPCh. 18 - Prob. 7SQPCh. 18 - Prob. 8SQP
Ch. 18 - Prob. 9SQPCh. 18 - Prob. 10SQPCh. 18 - Prob. 11SQPCh. 18 - Prob. 1SQCh. 18 - Prob. 2SQCh. 18 - Prob. 3SQCh. 18 - Prob. 4SQCh. 18 - Prob. 5SQCh. 18 - Prob. 6SQCh. 18 - Prob. 7SQCh. 18 - Prob. 8SQCh. 18 - Prob. 9SQCh. 18 - Prob. 10SQCh. 18 - Prob. 11SQCh. 18 - Prob. 12SQCh. 18 - Prob. 13SQCh. 18 - Prob. 14SQCh. 18 - Prob. 15SQCh. 18 - Prob. 16SQCh. 18 - Prob. 17SQCh. 18 - Prob. 18SQCh. 18 - Prob. 19SQCh. 18 - Prob. 20SQ
Knowledge Booster
Similar questions
- If a country produces 100 units of goods and it consume 60 units. Calculate the value of surplus and capital availble next year.arrow_forwardWHICH IS THE TAX IMPOSED ON THE IMPORTS Explain it also thank youarrow_forwardExporting countries Which of the following will be true, everything else remaining constant, for a country that exports some good? a)The greater the price elasticity of supply for the good in the exporting country, the greater the volume of exports. b) The more that consumers in the exporting country respond to a change in price, the greater will be the gains from trade. b) The smaller the price elasticity of demand and supply in the exporting country, the greater the gains from trade. c) Some domestic suppliers will lose surplus while others will gain surplus. Choose the statements that match the question and briefly explain your reasoning to understand the question better. Thankyou.arrow_forward
- e) Suppose a tariff allowed an industry to create 200,000 jobs paying an average of $22,500 per year. Before the tariff consumers bought 3 billion units (60% imported) at a price of $30. After the tariff they bought 2.75 billion units (none imported) at a price of $36. How much did total consumer spending on the good increase and how much per new job?arrow_forwardWhen the prices of U.S.-produced goods rise and the price of foreign-produced goods do not change, the result is Select one: a. a decrease in exports. b. an increase in exports. c. a decrease in imports. d. no change in imports or exports.arrow_forwardHow do I figure these out? Please show the steps. Thanks. Refer to a graph that shows a domestic market for COVID19 Vaccine in Korea and U.S. to answer the following questions. Suppose that each country is an open economy and the world price of vaccine is $30. Which country is an importing country? (How do I figure this out?) How much is the amount of import? Which country is an exporting country? How much is the amount of export? 2) Calculate the consumer surplus, producer surplus, total surplus, and gains from trade in Korea. Also, do the same for the U.S. Thanksarrow_forward
- QUESTION 32 Which of the following statements is false? A. A quota is a tax levied against a specific good being imported into a country B. A tariff is a tax levied on imported goods C. A quota is a limit on the quantity of a good being imported into a country D. A tariff reduces the amount of imported goodsarrow_forwardA tariff is a tax on imported goods. Suppose the U.S. government cuts the tariff on imported flat screen televisions. Using the four-step analysis, how do you think the tariff reduction will affect the equilibrium price and quantity of flat screen TVS?arrow_forwardWhat is a tariff? (a) A form of subsidy.(b) A tax on imported goods.(c) A tax on foreign property.(d) A form of quota.arrow_forward
- Plz answer the all you definitely get upvote 1. When should a company ideally enter a foreign market? a) when the foreign market is saturated b) when the costs of labor and resources are higher than the domestic costs c) when the demand for the product declines in the domestic market d) when competition in the domestic market is the least 2. Which of the following hampers the growth of global economy? a) spread of capitalism around the world. b) encouraging protectionism c) terms and conditions of NAFTA 3. Companies that re willing or able to invest millions of dollars in operations abroad should ideally operate through _____? a) franchising agreements b) multinational corporations c) licensing agreements d) shell corporationsarrow_forwardShane who is a farmer of a city bought a tractor worth $18,500 from an importer so that the mango orchard he is taking care of would bare more fruits to be exported later. A. Investment B. Consumption C. Import D. Net exportarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics 2eEconomicsISBN:9781947172364Author:Steven A. Greenlaw; David ShapiroPublisher:OpenStaxPrinciples of Microeconomics (MindTap Course List)EconomicsISBN:9781305971493Author:N. Gregory MankiwPublisher:Cengage LearningPrinciples of Economics, 7th Edition (MindTap Cou...EconomicsISBN:9781285165875Author:N. Gregory MankiwPublisher:Cengage Learning
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningPrinciples of Macroeconomics (MindTap Course List)EconomicsISBN:9781285165912Author:N. Gregory MankiwPublisher:Cengage LearningPrinciples of Macroeconomics (MindTap Course List)EconomicsISBN:9781305971509Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics 2e
Economics
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:OpenStax
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou...
Economics
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:9781285165912
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:Cengage Learning