Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Question
Chapter 8.W, Problem 1QAP
(a)
To determine
American agricultural policy and its effect on poor nations.
(b)
To determine
Criticisms to American agricultural subsidies.
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Students have asked these similar questions
To ensure an adequate income for the farmers, the US government purchases wheat from them. The USA is providing farm subsidies on a large scale. The government takes these measure to ___________________.
a.
Ensure fair income for farmers
b.
Maintain a regular supply of farm products
c.
All of these
d.
Reduce the import of farm products from other countries
What are the effects of farm subsidies such as those of the United States and the European Union on ( a) domestic agricultural prices, (b) world agricultural prices, and (c ) the international allocation of agricultural resources?
Suppose a domestic market in a country is perfectly competitive. The domestic market is small and cannot influence the international price. Assume the country imports from the international market. Which of the following is correct about the effect of an import quota?
Group of answer choices
A) Increases domestic producer surplus
B) Increases import quantity
C) Increases total surplus in the domestic market
D) Decreases total domestic quantity supplied
E) None of the above
Chapter 8 Solutions
Microeconomics
Ch. 8.1 - Prob. 1QCh. 8.1 - Prob. 2QCh. 8.1 - Prob. 3QCh. 8.1 - Prob. 4QCh. 8.1 - Prob. 5QCh. 8.1 - Prob. 6QCh. 8.1 - Prob. 7QCh. 8.1 - Prob. 8QCh. 8.1 - Prob. 9QCh. 8.1 - Prob. 10Q
Ch. 8.W - Prob. 1QECh. 8.W - Prob. 2QECh. 8.W - Prob. 3QECh. 8.W - Prob. 4QECh. 8.W - Prob. 5QECh. 8.W - Prob. 6QECh. 8.W - Prob. 7QECh. 8.W - Prob. 8QECh. 8.W - Prob. 9QECh. 8.W - Prob. 10QECh. 8.W - Prob. 11QECh. 8.W - Prob. 12QECh. 8.W - Prob. 13QECh. 8.W - Prob. 14QECh. 8.W - Prob. 1QAPCh. 8.W - Prob. 2QAPCh. 8.W - Prob. 3QAPCh. 8.W - Prob. 4QAPCh. 8.W - Prob. 5QAPCh. 8.W - Prob. 1IPCh. 8.W - Prob. 2IPCh. 8.W - Prob. 3IPCh. 8.W - Prob. 4IPCh. 8.W - Prob. 5IPCh. 8.W1 - Prob. 1QCh. 8.W1 - Prob. 2QCh. 8.W1 - Prob. 3QCh. 8.W1 - Prob. 4QCh. 8.W1 - Prob. 5QCh. 8.W1 - Prob. 6QCh. 8.W1 - Prob. 7QCh. 8.W1 - Prob. 8QCh. 8.W1 - Prob. 9QCh. 8.W1 - Prob. 10QCh. 8 - Prob. 1QECh. 8 - Prob. 2QECh. 8 - How would an economist likely respond to the...Ch. 8 - Prob. 4QECh. 8 - Prob. 5QECh. 8 - Prob. 6QECh. 8 - Prob. 7QECh. 8 - Prob. 8QECh. 8 - Prob. 9QECh. 8 - Prob. 10QECh. 8 - Prob. 11QECh. 8 - Prob. 12QECh. 8 - Prob. 13QECh. 8 - Prob. 14QECh. 8 - Prob. 15QECh. 8 - Prob. 16QECh. 8 - Prob. 17QECh. 8 - Prob. 18QECh. 8 - Prob. 19QECh. 8 - Prob. 20QECh. 8 - Prob. 21QECh. 8 - Prob. 22QECh. 8 - Prob. 23QECh. 8 - Prob. 24QECh. 8 - Prob. 1QAPCh. 8 - Prob. 2QAPCh. 8 - Prob. 3QAPCh. 8 - Prob. 4QAPCh. 8 - Prob. 5QAPCh. 8 - Prob. 1IPCh. 8 - Prob. 2IPCh. 8 - Prob. 3IPCh. 8 - Prob. 4IPCh. 8 - Prob. 5IPCh. 8 - Prob. 6IPCh. 8 - Prob. 7IPCh. 8 - Prob. 8IPCh. 8 - Prob. 9IPCh. 8 - Prob. 10IP
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- Suppose a domestic market in a country is perfectly competitive. The domestic market is small and cannot influence the international price. Assume the country exports to the international market. Which of the following is correct about the effect of a tax per unit purchased in the country? a. The domestic producers supply more to the domestic market b. Increases export quantity c. Increases total quantity supplied d. Decreases total quantity supplied e.None of the abovearrow_forwardExplain and evaluate: “Industry complains of the higher taxes it must pay to finance subsidies to agriculture. Yet the trend of agricultural prices has been downward while industrial prices have been moving upward, suggesting that on balance agriculture is actually subsidizing industry.”arrow_forward_____ means selling the products at a price less than the ongoing price in the market. a. Quota b. Subsidy c. Dumping d. Tariffarrow_forward
- China’s entry into the World Trade Organization (WTO) in 2001 created more competition between local and foreign firms, and also provided China greater access to the market for exports. This was particularly true in the market for rubber since, at the time, China was the world’s second largest consumer of rubber (China is now the world’s largest consumer of rubber). Shortly after joining the WTO, China eliminated its import quota on rubber. What impact do you think the import quota reduction likely had on the price of rubber and the quantity of rubber exchanged in China? What implications do you think the elimination of the quota on rubber had on China’s social welfare?arrow_forwardA World View article titled "Imported Wine Squeezing U.S. Vintners'' discusses foreign wine sold in the U.S. market. According to the article, the impact of the increasing import competition is_____ A. leading states to eliminate all subsidies due to the financial crisis that has left the budget in disarray. B. encouraging more California vintners to enter the market. C. causing domestic vintners to convert their vineyards into almond and avocado farms. D. resulting in a sharply increasing wine consumption rate in the United States.arrow_forwardGhana's president is also very interested in banning the imports of food in order to increase nutrition in her country. What is the logic behind this? Will it work?arrow_forward
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