Canadian production-consumption-government revenue

Assignment Help Macroeconomics
Reference no: EM131334424

Assume Canada is a small open economy that imports some of the grapes it consumes.

a) Draw a diagram showing the equilibrium under free trade in grapes

b) Show the effects of a $1 per kg tariff on imported grapes.

Show the effect on : imports, Canadian production, consumption, the government's revenue, the change in (Canadian) producer surplus, consumer surplus, and total surplus.

c) What would be the effect of replacing the import tariff with an import quota? Which would be better? Explain.

Reference no: EM131334424

Rate of return for this series of cash flow

The Present Worth amount of a series of annual payments extending over a period of 20 years is $25,000. Theequivalent annual amount of the series of payments is $2,000 per y

Role of protocol in sending

Select one of the protocols associated with e-mail, such as SMTP, POP, or IMAP. What is the role of this protocol in sending and/or receiving e-mail? What is an example of h

Explain economic stimulus package-expansionary fiscal policy

By early 2008, most economists believed we were heading towards recession. Congress and the President passed an Economic Stimulus Package (Expansionary Fiscal Policy) and th

Calculate optimal output and profits

Syracuse Paper supplies printer paper in upstate New York. Like output of other wholesale distributors, Syracuse Paper must meet strict guidelines and printer paper supply ind

How would you prefer to travel to work if your wage rate is

You can either take a bus or drive your car to work. A bus pass costs $5 per week, whereas driving your car to work costs $60 weekly. You spend half an hour less on a one-way

A country has experienced a recession during which

A country has experienced a recession during which, in addition to the decline in output and the increase in unemployment, there is a reduction in interest rates. discuss the

Economic consequences of the peace

John Maynard Keynes wrote the Economic Consequences of the Peace after resigning from the post-WW1 English team negotiating the surrender of Germany. To what extent did the

Dollar-euro exchange rates

Suppose that the values of the dollar-euro exchange rates are as follows: in New York $1.19 per euro, and in Tokyo $1.21 per euro. Describe how investors could use arbitrage


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd