MACROECONOMICS W/CONNECT
18th Edition
ISBN: 9781307253092
Author: McConnell
Publisher: Mcgraw-Hill/Create
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Question
Chapter 20, Problem 13RQ
To determine
A beneficial trade barrier to the exporter.
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Suppose that the domestic demand for sugar is given by P-27-2Qd and the
domestic supply is given by P=2+3Qs. The world price is $11 and the
government decided to impose an import tariff of $3 per unit. This decision of
the government will reduce the quantity imported of sugar
O A. from 10 units to 5 units.
O B. from 5 units to 2.5 units.
O C. from 41 units to 22 units.
O D. from 15 units to 10 units.
Unsure
When a small country imposes a tariff on an imported good, domestic consumers bear
of the statutory burden
and
of the economic burden of the tariff.
O 100%; 0%
50%;
50%
100%; 100%
0%; 100%
Ma3.
Suppose that Canada possesses the following industry (inverse) supply and demand curves for clothing (where quantity measured in pounds): ps= 5 + 20q pd= 130-5q. Now suppose that the world export supply curve is perfectly elastic and given by p = $65.
Given the above, Canada will import__________ of clothing. Now suppose that Canada imposes a tariff of $10 per pound. Assume that all tariff revenue is rebated to consumers. In Canada, the new tariff-inclusive import price will be and there will be____________ a deadweight loss of______________
(a) 11.25 lbs; $70 per pound; $12.5.
(b) 11.25 lbs; $65 per pound; $4.25.
(c) 11.25 lbs; $60 per pound; $0.
(d) 10 lbs; $75 per pound; $12.5.
(e) 10 lbs; $65 per pound; $4.25
Chapter 20 Solutions
MACROECONOMICS W/CONNECT
Ch. 20.2 - Prob. 1QQCh. 20.2 - Prob. 2QQCh. 20.2 - Prob. 3QQCh. 20.2 - Prob. 4QQCh. 20 - Prob. 1DQCh. 20 - Prob. 2DQCh. 20 - Prob. 3DQCh. 20 - Prob. 4DQCh. 20 - Prob. 5DQCh. 20 - Prob. 6DQ
Ch. 20 - Prob. 7DQCh. 20 - Prob. 8DQCh. 20 - Prob. 9DQCh. 20 - Prob. 10DQCh. 20 - Prob. 11DQCh. 20 - Prob. 12DQCh. 20 - Prob. 13DQCh. 20 - Prob. 14DQCh. 20 - Prob. 1RQCh. 20 - Prob. 2RQCh. 20 - Prob. 3RQCh. 20 - Prob. 4RQCh. 20 - Prob. 5RQCh. 20 - Prob. 6RQCh. 20 - Prob. 7RQCh. 20 - Prob. 8RQCh. 20 - Prob. 9RQCh. 20 - Prob. 10RQCh. 20 - Prob. 11RQCh. 20 - Prob. 12RQCh. 20 - Prob. 13RQCh. 20 - Prob. 1PCh. 20 - Prob. 2PCh. 20 - Prob. 3PCh. 20 - Prob. 4P
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