Table: Demand and Supply of TVs in Australia
Price of TVs ($) | Quantity Demanded（亚洲妈妈thousand） | Quantity Supplied (thousand) |
结壳的硬币交给谁500 | 0 | 我的理想手抄报50 |
400 | 10 | 40 |
300 | 20 | 30 |
200 | 30 | 20 |
100 | 40 | 10 |
0 | 50 | 0 |
| | |
Assume the nation of Australia is “small,” unable to influence world price, Its demand and supply schedules for TVs are shown in Table. Using graph paper, plot the demand and supply schedules on the same graph.
a. Under free-trade conditions, suppo Australia imports TVs at a price of $100 each.
早春呈水部十八员外
(1)How many TVs will be produced, consumed, and
(2)Calculate the dollar value of Australian consumer’s surplus
and producer’s surplus.
b. To protect its producers from foreign competition, suppo the Australian government levies a specific tariff of $100 on TV imported.
(1) Determine and show graphically the effects of the tariff on the price of TVs in Australia, the quantity of TVs supplied by Australian producers, the quantity of TVs demanded by Australian consumers, and the volume of trade.
(2) Calculate the effect on Australian consumer’s surplus and supplier’s surplus due to the tariff-induced increa in the price of TVs.
(3) Calculate the value of the tariff’s revenue effects,redistribution effect and protective effect and consumption effect.
(4) What is the amount of deadweight loss impod on the Australian economy by the tariff?
Suppo that $80 of imported wool goes into the domestic production of a suit. suppo also that the free trade price of the suit is $100 but the nation impo a 10 percent nominal tariff on each imported suit.
a)calculate the effective rate of protection impod on the suit.
b)Discuss the relationship between the rate of effective protection and the nominal tariff rate on the suit.
c)What is the most rious shortcoming of the concept and measure of effective protection?
| In the United States | In France |
Labor hours to make: | | |
1 gallon of Wine | 4 | 1 |
1 pound of Chee | 3 | 2 |
| | |
脾大是什么原因引起的
(1)What is the relative price of chee (the price of chee in terms of wine) in France and in U.S. if they do not engage in trade?
(2)Assume the United States and France trade only with each other. What is the advantage of each country?
(3)Once trade between the United States and France opens, what range can we anticipate that the international price of wine will be?
1. A rough measure of the degree of economic interdependence of a nation is given by:（ ）
a. the size of the nations' population
b. the percentage of its population to its GDP
c. 志愿者日志he percentage of a nation's imports and exports to its GDP
d. all of the above
2. If the nation's tastes for its import commodity increas:
a. the nation's offer curve rotates toward the axis measuring its import commodity
孕妇可以吃辣椒吗b. the partner's offer curve rotates toward the axis measuring its import commodity
c. the partner's offer curve rotates toward the axis measuring its export commodity
d. the nation's offer curve rotates toward the axis measuring its export commodity
3. Nation 1's share of the gains from the export of commodity X will be greater: ( )
a. the greater is nation 1's demand for nation 2's exports
b. the clor Px/Py with trade ttles to nation 2's pretrade Px/Py
c. the weaker is nation 2's demand for nation 1's exports
d. the clor Px/Py with trade ttles to nation 1's pretrade Px/Py
4. When w/r falls, L/K ( )
a. falls in the production of both commodities b. can ri or fall
c. ris in the production of both commodities 学做米糕d. is not affected
5. If the terms of trade of a nation are 1.5 in a two-nation world, tho of the trade partner are: ( )
a. 3/4 b. 2/3 c. 3/2 d. 4/3
6.Which of the following assumptions of the Heckscher-Ohlin theory, when relaxed, require new trade theories? ( )
a. Economies of scale b. incomplete specialization
c. similar tastes in both nations d. the existence of transportation costs
7.Which of the following refers to the loss consumers in the importing country suffer ba
d on their reduction in the consumption of a good after a tariff is impod on that good?
a. Production effect. b. Tariff revenue.
c. Deadweight loss. d. Consumer surplus.
8.One of the reasons that protectionists and government officials may favor using a quota instead of a tariff is: ( )
a. Quotas generate more revenue for the government than do tariffs.
