Reference no: EM13157965
Quotas and Tariffs: Graphing and Analysis
The following problems ask you to draw graphs illustrating trade barriers for "special cases." They require you to think about what is going on, rather than just reproduce results from memory. In each case, label the initial world price with free trade "PW", the price in the U.S. after the policy is introduced "P2". For the large country cases, also identify the price paid by consumers in the ROW "P3". Also, identify areas in your graphs and answers questions about gains and losses by identifying them as sums of different areas.
1. The U.S. is a small country in the world market for widgets. Moreover, the U.S. cannot produce any widgets at all domestically. Illustrate the impact of a U.S. tariff on widgets, and identify the change in U.S. welfare from this tariff (state whether it's a welfare gain or welfare loss).
2. The U.S. is a large country in the world market for coffee beans. Assume the U.S. cannot produce any coffee beans domestically. Illustrate the impact of a U.S. tariff on coffee beans, and identify areas that represent the change in welfare for the U.S. and for the ROW from the tariff. Can the U.S. ever come out ahead from this tariff? Why or why not? Can the ROW ever come out ahead? Why or why not?
3. The U.S. is a large country in the world market for golf carts. While the U.S. produces and consumes golf carts, the rest of the world produces them, but does not use them. Illustrate the impact of a U.S. quota on golf carts that cuts imports roughly in half. (Assume the U.S. government auctions off import licenses to the highest bidder among U.S. import companies.) Identify areas that represent the change in welfare for the U.S. and for the ROW from the quota. Can the U.S. ever come out ahead from this quota? Why or why not? Can the ROW ever come out ahead? Why or why not?
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What is the order for system survey
: What is the order for system survey, initial investigation, feasibility study, determination of information needs and system requirenments
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How many protons and how many neutrons
: Write the full symbol for each isotope (give both A and Z for each isotope). How many protons, and how many neutrons are present in the nucleus of each isotope?
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Describe an example of a television program
: Describe an example of a television program that you believe clearly displays social deviance, and explain why you specifically selected it. In this television program, how are people "labeled" as socially deviating from the expected social norms,..
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State mixture of powdered magnesium and zinc
: Metals such as magnesium and zinc react with dilute sulfuric acid to give hydrogen, according to the equation: M (s) + H2SO4 (aq) -------> MSO4 (aq) + H2 (g) When 5.00 g of a mixture of powdered magnesium and zinc were dissolved in diluted sulfuri..
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Quotas and tariffs-graphing and analysis
: Can the U.S. ever come out ahead from this quota? Why or why not? Can the ROW ever come out ahead? Why or why not?
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Metals such as magnesium and zinc react with dilute sulfuric
: Metals such as magnesium and zinc react with dilute sulfuric acid to give hydrogen, according to the equation: M (s) + H2SO4 (aq) -------> MSO4 (aq)
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What is the specific heat for the metal
: It takes 55.0 J to raise the temperature of an 10.3 g piece of unknown metal from 13.0C to 24.7 C. What is the specific heat for the metal?
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State what is the maximum amount of sodium chloride
: what is the maximum amount of sodium chloride that can be separated at 25 ºC by filtration, and what is the mass percentage of sodium chloride in the filtrate?
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State the concentration of oxygen
: The concentration of oxygen, O2, dissolved in a sample of seawater is 6.22 ppm by mass (concentration 1 ppm - 1 part per million - means
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