By how much would the demand for imported tv sets

Assignment Help International Economics
Reference no: EM13198561

Suppose that during a given year : (1) the price of television sets increases by 4% in Japan, (2) the dollar depreciates by 5% with respect to the yen (Japanese currency), (3) consumer incomes in the U.S. increase by 3%, (4) the price elasticity of demand for imported TV sets in the U.S. is 1.5, and (5) consumers' income elasticity of demand for TV sets in the U.S. is 2.
1. If the price of the imported TV was $300 in the U.S. at the beginning of the year, approximately how much would you expect the price of the same imported TV set to be in the U.S. at the end of the year
2. By how much would the quantity demanded of imported TV sets in the U.S. change as a result of the increase in consumer income alone?

3. By how much would teh demand for imported TV sets in teh U.S change as a result of the change in price alone?

4. By how much would the demand for imported TV sets in the U.S. change as a result of both a change in price and in incomes?

Reference no: EM13198561

Questions Cloud

Prominent woman : Write a passage about a prominent woman from U.S. history since 1877 whose life you think is worth remembering. Please select someone whose efforts have benefited the nation and explain how she achieved her accomplishments.
Sate preparing a two-way table of percentages : Suppose you were preparing a two-way table of percentages for the following pairs of variables. How would you run the percentages?a. age and consumption of breakfast cereal
Compute the ae in the economy of timberland : After this change, the interest rate is found to be below the equilibrium interest rate. Describe the effect of this level of interest rate on the price of bonds, the need for cash balances, the opportunity cost for holding money.
Describe how high-performance workplaces : Discuss how high-performance workplaces and organizations differ from traditional organizations regarding operational effectiveness, workplace stress
By how much would the demand for imported tv sets : (1) the price of television sets increases by 4% in Japan, (2) the dollar depreciates by 5% with respect to the yen (Japanese currency), (3) consumer incomes in the U.S. increase by 3%, (4) the price elasticity of demand for imported TV sets in th..
What is the magnitude of the tension on the ends : A horizontal clothesline is tied between 2 poles, 16 meters apart.
Discuss consumption of breakfast cereal : "Suppose you were preparing a two-way table of percentages for the following pairs of variables. How would you run the percentages?a. age and consumption of breakfast cereal.
What is the size of the population after t hours : A certain bacteria population is known to triple every 90 minutes. Suppose that there are initially 140 bacteria.
Is the good in question standardized : Identify the buyers and sellers as well as the goods or services. How closely do real world conditions match the characteristics listed in the model. Are the sellers price takers.

Reviews

Write a Review

International Economics Questions & Answers

  What will be the effects of an increase in the money supply

What will be the effects of an increase in the money supply

  Questions based on international business

Questions based on International Business

  calculate the series for nominal gdp

Calculate and Plot using a spreadsheet (like Ms Excel) the series for Nominal GDP

  Burger king beefs up global operations

Burger King Beefs Up Global Operations

  Consider two countries that share the same technology

Consider two Countries that share the same technology, South Africa and the UK, and two goods, Diamonds and Tea

  Find best the governance system of the eu

Which political system describes best the governance system of the EU? Is the governance system of the EU democratic? Why ‘yes', or why ‘not'?

  Review the country political economy

Political Economy and Foreign Direct Investment - Review the country's political economy

  Calculate the value of the intraindustry trade

Calculate the value of the Intraindustry Trade

  Identify the funding mechanism of the project

Identify the funding mechanism of the project, and the sources of funding. Identify the key players or stakeholders of the project. Who is supposed to benefit from the initiative?

  Alternative trade: legacies for the future

explain how  Alternative Trade: Legacies for the Future  supports or challenges your conceptualizations of trade and development. Are there themes that some of you agree upon? Do you disagree on others? Describe your conversation.

  Find the equilibrium interest rate

The consumption function is given by C = 200 + 0.75(Y - T ). The investment function is I = 200 - 25r, r is the real interest rate. Government buy and taxes are both 100.

  Country economic and trade summary reports

Global marketing managers must understand economics and trade rules of countries and regions within which they trade.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd