Question

A country’s import demand is determined by __________ at prices __________ domestic equilibrium price. the excess...

A country’s import demand is determined by __________ at prices __________ domestic equilibrium price.

the excess of supply over demand; below

the excess of demand over supply; below

the excess of supply over demand; above

the excess of demand over supply; above

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose the world price for shoes is $32 per pair. Domestic demand and domestic supply are...
Suppose the world price for shoes is $32 per pair. Domestic demand and domestic supply are determined by the following equations: Domestic Demand: p = 120 - 2q Domestic Supply: p = 20 + 3q where p and q represent price and quantity, respectively 9. What is the net loss to the domestic economy if the above import quota of 30 pairs of shoes is implemented under the arrangement of Voluntary Export Restraint (VER)? A) $60 B) $120 C) $360...
Import Demand a) Draw a domestic market for sugar with a supply of P = .2+.1QS...
Import Demand a) Draw a domestic market for sugar with a supply of P = .2+.1QS (note: price is per pound and quantity is measured in thousands of tons) and a demand of P = 5 − .2QD b) If the world price of sugar is $1.20, how much money do consumers spend on imported sugar c) If a tariff of $0.20/pound is imposed, how many pounds of sugar are imported? d) Draw the import demand curve for sugar in...
Excess supply occurs when the actual price in some market is ________ the equilibrium price. Group...
Excess supply occurs when the actual price in some market is ________ the equilibrium price. Group of answer choices equal to below above
A tariff raises relative supply of a country’s import good while lowering relative demand. Discuss what...
A tariff raises relative supply of a country’s import good while lowering relative demand. Discuss what would happen if all China enacted a 10% tariff on US vehicles sold in China? What would you assume would be the affect on US sales of cars in China?
The Kingdom of Monkey has determined that the demand for the country’s automobile tires is given...
The Kingdom of Monkey has determined that the demand for the country’s automobile tires is given by QD = 3,200 -25P, where Q = the number of tourists served each month and P is the price per roundtrip tour on a river boat for each couple. The supply of romantic river-boat tours is given by QS = 15P - 800. 42) Suppose the Government of Monkey intervenes in the market for automobile tires and imposes a price of $75.00 per...
Let's say domestic demand is QD = 16 - P, domestic supply is QS = P....
Let's say domestic demand is QD = 16 - P, domestic supply is QS = P. International prices are $2, and import duties are $3 per unit. First, draw a picture related to this, and see the following value in the picture. Each value is represented by an area in the picture. a. Consumer surplus b. producer's surplus c. government revenue d. a quadruple loss of tariffs
Consider a competitive market served by many domestic and foreign firms. The domestic demand for these...
Consider a competitive market served by many domestic and foreign firms. The domestic demand for these firms’ product is Qd = 500 - 1.5P. The supply function of the domestic firms is QSD = 150 + 1P,while that of the foreign firms is QSF = 200. a. Determine the equilibrium price and quantity under free trade. Equilibrium price: $______ Equilibrium quantity: _______units b. Determine the equilibrium price and quantity when foreign firms are constrained by a 100-unit quota. Equilibrium price:...
1. Suppose the U.S. equilibrium price of beef is $2 per kilo and Japan equilibrium price...
1. Suppose the U.S. equilibrium price of beef is $2 per kilo and Japan equilibrium price of beef is $4 per kilo; international equilibrium would be established by A. The intersection of U.S. excess supply and Japan excess demand of beef. B. The intersection of Japan excess supply and U.S. excess demand of beef. C. The intersection of U.S. and Japan excess supply of beef. D. The intersection of U.S. and Japan excess demand of beef. 2. Other things being...
The following are the equations of demand and supply of rice in Home Country and Foreign...
The following are the equations of demand and supply of rice in Home Country and Foreign Country. P in the equations is the price of rice in the same currency. Home Country’s demand for rice is QDH = 2,400 – 30P Home Country’s supply for rice is QSH = 50P Foreign Country’s demand for rice is QDF = 4,800 – 40P Foreign Country’s supply for rice is QSF = 80P Calculate i) the equilibrium price of rice in Home Country...
A small country’s demand curve is given by Q=10-(P/2) and its supply curve is given by...
A small country’s demand curve is given by Q=10-(P/2) and its supply curve is given by Q=P-5. Assume the world is currently in free trade and that the price under free trade is $7. What is the size of the import quota that, when introduced, would be equivalent (i.e. have the same impact on price and quantity) to the introduction of a $2 specific import tariff?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT