A US quota limiting the import of cars from Japan to 1000 a year will have the following effect Select the correct answer below: reduce the price of Japanese cars on the domestic market cause the loss of jobs in the car manufacturing industry in the US increase the sale of US cars in the domestic market O reduce the profits of US car manufacturers

A US quota limiting the import of cars from Japan to 1000 a year will have the following effect Select the correct answer below: reduce the price of Japanese cars on the domestic market cause the loss of jobs in the car manufacturing industry in the US increase the sale of US cars in the domestic market O reduce the profits of US car manufacturers

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Price per Saddle Domeslic Supply P2 Tariff World Price P1 G Domestic Demand Q1 Q2 Q3 Q4 Quantity of Saddles With the tariff in place, the total tax revenue equals O (1/2)x(Q2-Q1)x(P2-P1) + (1/2)x(Q4-Q3)x(P2-P1) O P2 x Q3 (P2 - P1) x (Q3 - Q2) O (P2 - P1) x (Q4 - Q1)
Brazil is an importer of computer chips. When the Brazilian government imposes an import quota on computer chips, consumer surplus decreases, total surplus increases in the Brazilian computer chip market. consumer surplus increases, total surplus decreases in the Brazilian computer chip market. consumer surplus decreases, total surplus decreases in the Brazilian computer chip market. consumer surplus increases, total surplus increases in the Brazilian computer chip market. O O O
To determine: The impact of export subsidy.
The table below represents the quantity of rice demanded for selected countries. Quantity of Rice Demanded (millions of metric tons) Price (U.S. dollars per metric ton) Japan Taiwan South Korea Market Total $600 13 7 8 500 14 8.5 10.5 400 15 10 13 300 16 11.5 15.5 200 17 13 18 What is the quantity of rice demanded in the market (in metric tons) if the market price is $300 per metric ton? million metric tons Round your answers to 1 decimal place.
The figure below shows the domestic demand (Dd) and domestic supply (Sa) curves of mopeds in a country before an import quota is imposed by the government. After the imposition of the quota, the maximum import quantity is QQ: Sa Sa+ Q. $800 $750 $715 World price New export price with quota Da 0.4 0.5 0.6 1.5 1.8 2.0 Quantity (Millions of Mopeds per year) If the government auctions the quota licenses, the importing nation will lose $29.75 million. O gain $21.5 million. O gain $31.5 million. lose $10 million.
Suppose Canada has a voluntary export restraint for lumber going to the U.S. Who captures the quota rents? O U.S. lumber producers O U.S. consumers O The U.S. government O Canadian lumber producers
Explain how a US QUOTA on foreign dairy would affect each group in the economy. Use the picture below to answer the question, each word is only used once.
You are provided with the following information about the Canadian turkey market:1. The world price of turkey is $5.2. The Canadian turkey market is currently (before the new trade agreement) protected by a tariffrate quota (TRQ) of the following format:a) the in-quota tariff is $1 per unitb) the import quota volume is 100 unitsc) the over-quota tariff is $10 per unit.3. An excess demand (ED) (for imports) function for turkey has been estimated as? = 28 − 0.14?. Notes: Canada is a small importing country in the world market for turkeys. Answer the question below: The Canadian government is considering reducing the in-quota tariff to $0.50. Modify the diagram for this market, and solve for the Canadian turkey price and the volume of imports. Label all relevant functions, axes, etc.
Which of the following would help to reduce imports? Select one: a) A fall in quotas b) Increased borrowings c) Fall in subsidy to domestic firms d) A fall in tariffs e) Decreased import substitution
Why does the efficiency of an import tariff depend on the price elasticity of demand?
Which of the following might be considered a cost to protecting domestic jobs in the steel producing industry by blocking steel imports? Less consumer surplus for those who use products made of domestic steel Fewer jobs in industries that use steel Higher prices of steel for domestic industries that use steel All of these might be considered costs
If the size of a tariff raises the price of an imported item $20 per unit which in turn reduces the quantity of imports by 10%, what would be the effect on the price of an imported item, if the Government imposed a 10% import quota, which requires imports to fall by 10%