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Problem
Suppose a country imposes a tariff on coffee imports. Using the diagram of supply and demand in Figure 17P-4 identify the correct shaded areas as follows.
a. In autarky, which area(s) comprise domestic consumer surplus? Which area(s) comprise domestic producer surplus?
b. When the country opens up to trade, which area(s) do consumers gain as surplus? Which area(s) do producers lose?
c. After trade, if an import tariff is imposed, which area(s) do domestic producers gain as surplus? Which do domestic consumers lose?
d. With the tariff, which area is government revenue?
e. Which area(s) represent deadweight loss as a result of the tariff?
f. If the country uses an import quota instead of a tariff, what is the quota quantity if the quota price is $7?
A friend convinces you that he has a great idea for a business, and the two of you incorporate. You supply him with funds and let him make all the executive decisions. Under the agreement you hold 30% of the firms stock and your friend holds 70%
in the aftermath of a hurricane an entrepreneur took a one-month leave of absence without pay from her 4000 per month
Suppose that the MPC has a value of 0.95. If this is true, then a $10 million increase in disposable income (YD) will have what impact on the value of total consumption in the economy?
If a competitive industry is currently suffering economic losses then what can be expected to happen to the number of sellers, the price of the product, the volume of output and losses in this industry over time?
Explain what would happen to the demand for Motorola picture phones if the price of digital cameras rose
Econ 104- For each of the six costs of inflation detailed by Mankiw, explain likely effects of deflation. In responding, be certain that you comment briefly on the impact of deflation on each of six costs identified by Mankiw.
Suppose that market forces of supply and demand interact in a market to determine an equilibrium price. Explain or describe how the determination of this price might serve to determine which firms might actually participate in this market. Explain fu..
Illustrate what is the difference between a movement along and shift of the demand curve and supply curve. How does a surplus or a shortage of a good or service affect the market price.
Vulnerability Analysis
The financial crisis was brought on by unethical traders in the financial market. To prevent this from happening again traders and CEOs need to understand the principals of corporate governance and ethics."
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When the Federal Chairman, Ben Bernake, announces a change in the interest rate, does the Federal Reserve directly or indirectly change interest rate? explain.
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