Q: Is the convergence of globalization and technology likely to produce more or less inequality? why?
A: Globalization refers to the integration of world economies. The goods, services, capital and human…
Q: Problem 3. Find the total differential for the following utility function U(x₁,x₂): U(X,X) = xỉ 4X -…
A: Given Utility function: U(x1,x2)=x12+x23-5x1x2 ......(1) The total differential of the…
Q: there are only 250 available seats in the hall where a very popular play is performed. The…
A: In the free market, equilibrium price and quantity is determined by the forces of demand and supply…
Q: Anna sells a certain pair of earrings at her store for $50.62 per pair. Her overhead expenses are…
A: The final cost of a product, or the amount the consumer pays, is known as the selling price. In…
Q: List and discuss the two (2) main instruments of fiscal policy
A: Fiscal policy is one of the significant action of the government as it is used to influence the…
Q: 8. Which of the following is/are considered unemployment? A. A police officer left the old job and…
A: Unemployment refers to the situation where people are looking for a job and able to work.
Q: Assume N tasks, where there is one worker per task. Let q, [0,1] be the quality level of worker i.…
A: The theory was proposed by Michael Kremer in 1993. In order for the product to have its full worth,…
Q: The marginal product of effort, a typical worker in fast-food burger joint, is one-…
A: The marginal product of an input is the extra output that results from adding one unit of that input…
Q: True of False 1. Comparative advantage means production at a lower opportunity cost 2. Quantitative…
A: Disclaimer- “Since you have asked multiple questions, we will solve the first three questions for…
Q: A rise in the number of recording studios increases the quantity of CDs supplied by 75 a day at each…
A:
Q: You borrow $ 27965 at 12.25 % interest compounded monthly. If you are unable to make any payments…
A: We use the compound interest formula to calculate the amount due at the end of 5 years. The formula…
Q: What are economic benefits of using biodegradable plates? Explain..?
A: Sustainable development is a getting sorted out the standard for meeting human improvement…
Q: 2. Given a Q = 100-2P and Qs = 6P-20 a. Compute the equilibrium price, p*, and equilibrium quantity,…
A: Given Demand function QD=100-2P ......(1) Supply function QS=6P-20…
Q: What is a turnover tax and what purpose did it serve in the Soviet economy?
A: The turnover of a business will be the gross amount of revenue recognized in its profit and loss…
Q: how much interest is included in the future value of an ordinary simple annuity of $750 paid every…
A: Future value (FV) is the value of a current asset at a future date based on an assumed rate of…
Q: Given the input-output relationships in the table below (data are output per unit of input)…
A: Absolute advantage is when a country can produce more with the same resources or less resources.…
Q: QUESTION 1 Consider the market for fast food. Suppose the demand for fast food is given by QD=6-P…
A: Introduction Market equilibrium is determined when the quantity demanded of a commodity becomes…
Q: Domestic Demand Function: p= 80-4Q Domestic Supply Function: p= 20+2.5Q There is an…
A: International trade refers to the buying and selling of goods and services across the world. When…
Q: TRUE OR FALSE. A commodity “x” which has a price elasticity coefficient of - 1.5 is more price…
A: When talking about the coefficient of price elasticity of demand, it can be said that the value of…
Q: please answer the question below as long as you can because this is an essay question. Define and…
A: The ratio of the percentage change in quantity demanded of a product to the percentage change in…
Q: QUESTION 8 (a) Are goods X and Y substitutes or complements? Explain. (b) Is the demand for good X…
A: Introduction Substitute goods are two alertenative goods that could be used for the same purpose.…
Q: Suppose you borrowed $10, 000 at an interest rate of 12% compounded monthly over 48 months. At the…
A: Principle Amount = $ 10,000 Interest rate = 12% = $1200 Loan amount =…
Q: Pls
A: Players: {A, B} Strategy of Player A: { I, II, III } Strategy of Player B: {1, 2, 3, 4}
Q: B. Suppose that the economy is characterized by the following behavioral equations: • C=240 +0.75 Yd…
A: Here we are given various components of goods market: consumption , investment and government…
Q: The agricultural market for corn can be characterized as a purely competitive industry. How will an…
A: Revenue is the product of price and quantity. Cost is the investment made to produce the goods or…
Q: Define the following conceps: Rule of 70, Determinants of Economic growth, Growth Accounting
A: Economic Development is an initiative, policy, or project that seeks to enhance the economic…
Q: Consider an economy that only produces the two goods of Pizza and Calzones. What is Nominal GDP if…
A: Gross domestic product(GDP) measures the money value of all final goods and services produced in an…
Q: please teach explain step by step, I do not know notations, concepts too
A: An indifference curve depicts a combination of two items in various proportions that provides a…
Q: s a pro-risk investor which bond are you most likely to allocate capital to
A: The above ratings are given by S & P & Moodys to denote the riskiness on the financial…
Q: a. Butter and toast are often consumed together. Both the equilibrium price of toast and the…
A: Introduction When the quantity of supply of goods matches the demand of goods, it is called…
Q: - е.д. р. 11 falls дхі ((ріш) - хорош, TE арј (p,w) = } X₂ п(рм) = For marginal changes, slutpky…
A: An indifference curve represents a combination of two goods in differing quantities that provides a…
Q: 2. Now assume that CC Inc. is hiring Marie as a consultant to computerize its office operations.…
A: Utility is a gauge of how contented a person feels after consuming certain goods. To put it another…
Q: Agriculture and Mining Industry Quantity of Sweet Potatoes sold Value per lb. of Sweet Potatoes…
A: National income is the sum total of all the income of the country. There are four sectors in the…
Q: According to Ecological Economists "it is fallacious for a number of influential Economists, most…
A: Ecological economic An interdisciplinary field is ecological economics. It doesn't pretend to be a…
Q: Question 2 Consider an 8 person economy with the following income distribution:…
A: Foster-Greer-Thorbecke (FGT) Index is a generalized index of poverty measurement.…
Q: the supply of a good is perfectly inelastic, then suppliers will bear the full burden of an excise…
A: Market alludes to where the shopper can purchase anything they desire to purchase at the given costs…
Q: Answer the following questions (a) - The variable shown on the vertical axis is (b)- The units for…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Q1. The graph below is an example of "P.O.W. Camp." Which of the following statements is(are) FALSE?…
A: The indifference curve represents the set of bundles that give the same satisfaction or utility. A…
Q: Explain the difference between tariffs and quotas from the perspective of a business exporting to…
A: When talking about tariffs and quotas from the perspective of a firm exporting goods and services to…
Q: a. increasing b. decreasing C. constant d. zero
A: The production function shows the different combinations of two goods that can be produced with…
Q: Why do electricity markets need to be organized? Explain why the Pool model of supply is the…
A: The electricity is a necessity that cannot be stored in huge quantities and should be consumed when…
Q: A decision-maker with initial wealth w> 0 is choosing how many tickets to buy for a raffle. Tickets…
A: Price of a ticket = 1 Number of tickets bought = y such that y ( 0 to w ) Income = w Reward…
Q: Market demand is given as Qd = 190-2P. Market supply is given as Qs = P + 10. What would result if…
A: Surplus is also referred to as excess supply. The quantity supplied in this case exceeds the…
Q: What are the hofstede’s dimensions of India?
A: Hofstede dimension: The framework known as Hofstede's Cultural Dimensions Theory, which was created…
Q: Figures 3 and 4 below illustrate a certain relationship between the change in prices and the change…
A: Elasticity measures the responsiveness of quantity demanded to changes in price.
Q: An increase in the price of good X will mostly cause what kind of change? a shift of the demand…
A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…
Q: Using the solution above, compute the indirect utility function
A: We have the optimal values of good x1 and x2 (calculated in the previous part). To find the indirect…
Q: Four Seasons Brewery has a variety of costs. Label which cost is EXPLICIT and which cost is…
A: Explicit cost refers to the cost which is incurred in the monetary terms while producing goods or…
Q: Question 1: Describe the incentive and sorting effects at Merrill Lynch and how changes to the…
A: Compensation: Compensation is money paid to a person in exchange for a service. In the workplace,…
Q: f you win the lottery $1.5 million price, which is the better option - taking the money now, or…
A: The time value of money states that sum of money to be worth higher at present time compared to the…
how can tariff be a source of government revenue?
Step by step
Solved in 2 steps
- 3. How does a tariff affect someone?what is tariff and how does it effect the economyThe minister for labor of the Utopia (small country) is eager to encourage domestic production of bikes. A small bike industry exists, but only a few producers can survive foreign competition without government help. The country decided to help the local producers, the problem is the country has no idea what to do, some argues for 20% tariff and others thought 20% subsidy can gain same benefits to the country with less social cost. a. Show the following diagrammatically: The effects of the tariff on domestic bike output and consumption. The beneficial side effects of the tariff. The net gains or losses for the country. 4. All the same effects for the case of the production subsidy. 5. The differences in the effects of the two alternatives on the government’s budget. b. Can you describe a policy that captures the alleged benefits of worker training better than either the 20% tariff or the 20% subsidy?
- The figure provided shows the market for calculators. Price of calculators $45 40 30 world price with tariff 20 10 world price 50 100 200 300 400 500 600 700 800 900 Quantity of calculators Deadweight loss arising from the tariff is, in numerals, $Suppose the nation of Isoland is an importer of textiles and is looking for a way to raise government revenue. The following graph shows the effect of a tariff on textile imports.Explain the two distorting effects of the tariff