Suppose we have the country of Melanie-opolis. Further suppose that we have the following: . People in Melanie-opolis spend $90,000,000 on food and cars produced in the country in 2021. . Firms in Melanie-opolis spend $40,000,000 on equipment produced in the country in 2021. . Government in Melanie-opolis spends $20,000,000 on uniforms produced in the country of Cynthia-ville in 2021. . People in Cynthia-ville spend $70,000,000 on goods produced in the country of Melanie-opolis in 2021. . People in Melanie-opolis also spend $30,000,000 on purchases of existing bonds (that were originally produced in 2019). Based on this information, what is the GDP for Melanie-opolis for 2021? $100,000.000 $160.000.000 $180,000,000 $200,000,000 $240,000,000

Suppose we have the country of Melanie-opolis. Further suppose that we have the following: . People in Melanie-opolis spend $90,000,000 on food and cars produced in the country in 2021. . Firms in Melanie-opolis spend $40,000,000 on equipment produced in the country in 2021. . Government in Melanie-opolis spends $20,000,000 on uniforms produced in the country of Cynthia-ville in 2021. . People in Cynthia-ville spend $70,000,000 on goods produced in the country of Melanie-opolis in 2021. . People in Melanie-opolis also spend $30,000,000 on purchases of existing bonds (that were originally produced in 2019). Based on this information, what is the GDP for Melanie-opolis for 2021? $100,000.000 $160.000.000 $180,000,000 $200,000,000 $240,000,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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7. For many years, various groups have accused China of "dumping" exports onto the US market. That is, they claim that the Chinese government subsidizes Chinese exporting firms to allow them to sell at lower prices than US firms and/or lower than sellers from other countries. Some trade policy analysts argue that the US is harmed by this dumping behavior and that the US should impose restrictions on imports from China. Use a supply and demand diagram to assess this argument. Do you agree with the argument made and policy prescribed by the trade analysts?
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Consider a small country that exports steel. Suppose the following graph depicts the domestic demand and supply for steel in this country. One of the two price lines represents the world price of steel. ecause this country exports steel, the world price is represented by . Suppose that a “pro-trade” government decides to subsidize the export of steel by paying $10 for each ton sold abroad. With this export subsidy, the price paid by domestic consumers is per ton, and the price received by domestic producers is per ton. The quantity of steel consumed by domestic consumers , the quantity of steel produced by domestic producers , and the quantity of steel exported . True or False: With the export subsidy, domestic producers will sell steel to domestic consumers and sell the rest abroad. True False Under the export subsidy, consumer surplus is and producer surplus is . Government revenue by (increases or Decreases) . As a…
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The following graph shows the supply and demand curves of gloves for Portugal. Germany and France supply gloves to Portugal at a price of $2 and $3, respectively. The green line indicates a 100% nondiscriminatory tariff on Portugal's glove imports. PRICE (Dollars per pair of gloves) 10 9 O 8 2 1 0 ☐ 0 □ 2 ☐ 4 O ☐ O ☐ O 6 ☐ O ☐ O 8 10 12 14 QUANTITY (Pairs of gloves) Suppose Portugal forms a customs union with France. □ C 16 The customs union results in the trade creation effect of $ 0 Stariff SE F SG O 18 20 (?) and the trade diversion effect of $ If, instead, Portugal forms a customs union with Germany, the result will be a by an amount equal to a effect of $ The overall welfare of Portugal customs union. The welfare of Portugal will
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The following graph shows the domestic demand for and supply of barley in Canada. The horizontal green line shows the world price of $1 for a bushel of barley. Canada imports barley primarily from the United States. Assume that the amount demanded by any one country does not affect the world price of barley. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. (Note: Once you enter à value in a white fleld, the graph and any corresponding amounts in the grey fields will change accordinglv.) Graph Input Tool I Price (Dollars per bushel) Supply Domestic demand (Mlions of bushels) Domestic supply (Mlions of bushels) 45 Imports (Milions of bushels) 40 Demand t0 15 20 25 30 35 40 45 s0 QUANTITY (MIlions of bushels of barley) PRICE (Dolars)