« previous next »

Author Question: How do imports affect buyers' consumer surplus? What will be an ideal ... (Read 48 times)

jilianpiloj

  • Hero Member
  • *****
  • Posts: 521
on: Jun 29, 2018
How do imports affect buyers' consumer surplus?
 
  What will be an ideal response?

Question 2

An example of household production excluded from GDP is
 
  A) household cleaning services provided by Merry Maids Incorporated.
  B) child care provided by a certified nanny.
  C) tree trimming you provide at your parents' home.
  D) plumbing work completed by Joe Fix-it.
  E) lawn care provided by a local lawn care company.


epscape

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

Consumer surplus increases. It increases because imports lower the price of the good being imported, so buyers purchase more of the good and hence their consumer surplus increases.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

U.S. oil imports U.S. oil imports
The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
Factors That Affect BP Factors That Affect BP
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
US federal budget deficit/surplus and debt US federal budget deficit/surplus and debt
Video: Definition of heart rate

For a complete list of videos, visit our video library