PRINCIPLES OF MACROECONOMICS (LL)W/ACC.
PRINCIPLES OF MACROECONOMICS (LL)W/ACC.
7th Edition
ISBN: 9781264088980
Author: Frank
Publisher: MCG
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Chapter 16, Problem 6P

(a)

To determine

Identify the equilibrium price and production of automobiles if that the economy is closed.

(b)

To determine

Identify the domestic demand, supply, exports, and imports of the country, in the case of open trade.

(c)

To determine

Describe the effects of tariffs in domestic demand and supply.

(d)

To determine

Describe the effect of tariff in export and import and revenue attained by the government.

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