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Author Question: The principle benefit of tariff protection goes to A) domestic consumers of the good produced. ... (Read 167 times)

tuffie

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on: Jun 30, 2018
The principle benefit of tariff protection goes to
 
  A) domestic consumers of the good produced.
  B) foreign consumers of the good produced.
  C) domestic producers of the good produced.
  D) foreign producers of the good produced.
  E) the domestic government.

Question 2

Assume:
 
  C = 40 + 0.8(Y - T)
  G = 10
  I = 20
  T = 0, where T are taxes.
  (a) Calculate Y at equilibrium.
  (b) Calculate C, I, and G at equilibrium.
  (c) Now assume,
  EX = 5 + 4EP /P
  IM = 10 + 0.1 (Y - T) - 3EP /P
  E = 3
  P = 1.5
  P = 2
  Find equilibrium Y.


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johnharpe

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

(a) Y = C + I + G
Y = 350
(b) C = 40 + 0.8 Y = 320
I = 20
G = 10
(c) Y = 269.1667


tuffie

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Reply 2 on: Jun 30, 2018
Excellent

upturnedfurball

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Reply 3 on: Yesterday
:D TYSM

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