Explain what are the gains and losses of international trade

Assignment Help International Economics

Reference no: EM131644126

Assignment: Markets, International Trade, and the Government

You are given the following scenarios for consideration:

• Scenario 1: Assume that the government imposed a price ceiling on gasoline in order to prevent prices from getting too high. What are the economic implications of this action in the gasoline markets? Use graphs as needed and explain your answers thoroughly.

• Scenario 2: Assume that the government imposed a price floor on wages (minimum wage) in order to make sure that workers can earn a living wage. Is this a price floor? What are the economic implications of this action in the labor markets? Use graphs as needed and explain your answers thoroughly.

• Scenario 3: What are the gains and losses of international trade? What happens when tariffs are imposed, in terms of the importing and exporting countries? Use graphs as needed and explain your answers thoroughly.

• Scenario 4: If the government doubled the tax on gasoline, would the tax revenues increase or decrease? Why? Use graphs as needed and explain your answers thoroughly.

Deliverables:

• Using the scenarios above, prepare a 5-10 page Microsoft Word document that addresses the above scenarios and meets APA standards.
• Include a summary section in your report that contains 5-7 bullet points identifying your major findings or conclusions of your paper.

Reference no: EM131644126

Questions Cloud

Define new quality performance improvement process : As a BSN prepared nurse, you have been asked to serve as a consultant to suggest a new Quality Performance Improvement process for ONE of the areas

Compare and contrast the types of supervision : Compare and contrast the types of supervision- Theory X and Y and free-rein leadership. Which is better for the department as a whole?

Determining the documents and presentations : What are these "big five" and how are they used? Have you ever used graphs and charts in your documents and presentations? How effective were they?

Define an essential competency for the rn : Safe medication administration is an essential competency for the RN

Explain what are the gains and losses of international trade : Explain what are the gains and losses of international trade? What happens when tariffs are imposed, in terms of the importing and exporting countries?

Scholarly article addressing ethics : The student will review of a scholarly article addressing Ethics and Why it Matters in Negotiation. Reviews should include a synopsis and your opinion.

Expected completion time of 30 days : Suppose a particular project has an expected completion time of 30 days; in other words, the critical path takes 30 days to finish.

Find the value of the objective : In any optimization model such as those in this chapter, we say that the model is unbounded (and Solver will indicate as such).

Congress in your role as a hospital healthcare administrator : You have been asked to testify before Congress in your role as a Hospital Healthcare Administrator. The topic of the hearings deals with national.

User Account

All Pages