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

Would you recommend more garbage disposal services

suppose you know that CLS's MRT of wine of garbage disposal services is 2:1(to obtain more bags of garbage disposal services requires a reduction of one bottle of wine (keep

Identified three goals of macroeconomic policy

The text identified three goals of macroeconomic policy: (i) Minimize unemployment, (ii) Minimize inflation and (iii) Maximize economic growth. Obviously, these goals have ele

Determine the value of the multiplier

Assume that MPC is 0.8, while the sum of planned investment, government purchases, and net exports is $500 billion. Assume also that the government budget is in balance.

Down for the natural monopoly

What should the role of the government in terms of the Internet taxation and Internet content? Based on which of the roles of government? The Internet Taxation issue is that

Major problems of the fiscal policy and monetary policy

Question 1: What are the benefits and major problems of the fiscal policy and monetary policy? Question 2: If you were macroeconomic policymaker, how do you balance the shor

Most students will agree that sleeping in on a school

Most students will agree that sleeping in on a school/work day has opportunity costs. Are there opportunity costs in sleeping in on a weekend (assuming you don’t work or go to

Calculation of return on equity

Past year both Country homes and City Construction earned $1 million in Net Income. Both companies have asstes of $10 million. Country created a return on equity of 11.1 perce

Can govt make things worse by intervening in market

Can the government make things worse by intervening in markets? Are there other options outside the markets and government that will fix macroeconomic failure?


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