This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Using a graph, illustrate what the market effects of a quota, a tariff, or a complete ban on imports ... (Read 74 times)

Yi-Chen

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
Using a graph, illustrate what the market effects of a quota, a tariff, or a complete ban on imports would be.
 
  What will be an ideal response?

Question 2

The above table has data from the nation of Media. Based on these data, when disposable income is 8.0 trillion, saving is
 
  A) -1.5 trillion. B) 1.5 trillion. C) 7.5 trillion. D) 0.5 trillion. E) -0.5 trillion.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

asdfasdf

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 29, 2018
Answer to Question 1

As shown in the figure, the demand for the product is the same in all cases; the question is what the supply curve would look like. In the case of the complete ban, the supply curve is the domestic supply curve. It shifts to the right if the tariff or quota is put in place, and shifts further to the right in the world without trade barriers. So free trade has the highest quantity and lowest price, an import ban has the lowest quantity and highest price, and the tariff or quota is somewhere in between the two cases.

Answer to Question 2

D


Yi-Chen

  • Member
  • Posts: 550
Reply 2 on: Jun 29, 2018
Wow, this really help

LVPMS

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Immunoglobulin G. (b) A ribbon model of the first complete IgG molecule to be crystallized Immunoglobulin G. (b) A ribbon model of the first complete IgG molecule to be crystallized
Effects of a Partial Agonist Effects of a Partial Agonist
Fast food effects on body Fast food effects on body
A complete kinetic scheme for a single nucleotide addition A complete kinetic scheme for a single nucleotide addition
Sketch a graph of the inverse of each exponential function. Sketch a graph of the inverse of each exponential function.
Effects of El Niño Effects of El Niño
Video: How to find out if a population is evolving?

For a complete list of videos, visit our video library