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(a)
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Introduction: A government-imposed trade restriction that limits the number of goods that a country can import during a particular period is called Quota.
(b)
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Introduction: A government-imposed trade restriction that limits the number of goods that a country can import during a particular period is called Quota.
(c)
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Introduction: A tax imposed by a government on goods imported from other countries that increases the
(d)
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Introduction: A tax imposed by a government on goods imported from other countries that increases the price and make imports less desirable, is called tariff.
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Chapter 32 Solutions
Economics Today: The Macro View (18th Edition)
- Put the sections of Cornell notes in the order of completion.arrow_forwardagree or disagree with the post Hi Class! Egyptian dates are much sweeter! Due largely to their climate and geography, Egypt, Saudi Arabia, Algeria, and Iran produce more dates than either the US or Canada. Dates grow best in hot dry climates with long dry growing seasons, which these nations naturally offer. They also produce a lot of dates because of their extensive agricultural, infrastructure, and centuries-old date-growing expertise. Conversely, the U.S., there aren't many places in Canada and California that are suitable for date farming, only a select few, like the Coachella Valley, in California can produce dates on a large scale. Although California produces some dates, it is not as much as countries like Saudi Arabia and Egypt. Depending only on U.S., because of increased labor and production costs, dates grown in this way may have a limited supply and raise prices. We can obtain a greater supply of dates at competitive prices while maintaining consistent quality by…arrow_forwardIn 1932 babe Ruth made $75,000. How much is that in todays dollars please give the right answer step by steparrow_forward
- Evaluate machine XYZ when MARR is 12% per year. Pertinent data are as follows: Machine XYZ Investment cost Expected life Market (salvage) value Annual revenue Annual expenses $10,000 5 years $1,000 $8,000 $4,000 How much is the excess of the cash flow using the Annual Worth Method? Blank 1 Calculate the External Rate of Return. Blank 2 Compute the payback period of the investment. Blank 3 Would you recommend this investment? Explain briefly. Blank 4arrow_forwardPlease make sure to answer each step and show work. Thank you!arrow_forwardPlease make sure to answer each step and show work. Thank you!arrow_forward
- Firm process is what into consumer goods and offer these to householdarrow_forwardThe tractor used by a farmer to produce his out put forms which partarrow_forwardHW Ch5 Calculate the daily total revenue when the market price is $180, $160, $140, $120, $100, $80, $60, and $40 per bippitybop. Then, use the green point (triangle symbol) to plot the daily total revenue against quantity corresponding to these market prices on the following graph. 2 @ 3840 3520 3200+ 2880 2560+ 2240 TOTAL REVENUE (Dollars) 1920 1600 1280 960 + 640+ 0 0 8 16 24 32 40 48 56 64 72 80 QUANTITY (Bippitybops per day) Total Revenue ? According to the midpoints formula, the price elasticity of demand between points A and B on the initial graph is approximately . Suppose the price of bippitybops is currently $60 per bippitybop, shown as point A on the initial graph. Because the price elasticity of demand between points A and B is , a $20-per-bippitybop decrease in price will lead to MacBook Air in total revenue per day. F2 80 F3 #3 $ 4 5 6 F6 < F7 * 8 & 27 DII 8 F8 F9 F10 61 0 W E R T Y U 0 P S D LL F G H J K Larrow_forward
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