What do you mean by import tariff and import quota

Assignment Help Macroeconomics

Reference no: EM133727372

Problem: Macroeconomics- Difference between Tariffs & Quotas

I. Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs.

II. Calculate the consumer surplus, producer surplus, and total surplus in a market of airplane tickets if the Equilibrium price per ticket is SAR 160, the equilibrium Quantity is 80 tickets, the upper intercept of the demand curve on the y-axis is SAR 400 and lower intercept of the supply curve on the y-axis is zero. What will be the dead weight loss if the government imposes a tax of SAR80 per ticket and the buyer and sellers share the tax of 50 percent each?

III. What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs.

IV. Provide the equation to calculate the GDP of a nation. Explain all four factors that contribute to the GDP calculation in detail.

Reference no: EM133727372

Questions Cloud

Write a java program that reads number of patient : Write a java program that reads number of patient and then let the employee enter their names and ages and count them.

Right knee and on pain medication : He reports he has osteoathritis of right hip, right knee and on pain medication and uses a cane for ambulation.

When was longest stretch of single party control of senate : When was the longest stretch of single party control of the Senate, House, and White House all at the same time?

Amber was frolicking through a grassy meadow : Amber was frolicking through a grassy meadow when she noticed that her arms and legs started itching uncontrollably.

What do you mean by import tariff and import quota : What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs.

What is the impact of health on wealth : What is the impact of health on wealth? Describe ways wealth can affect a person's well being and how it can lead to better health outcomes

What are research government regulations on water : Do you think the government regulations go too far? Do you think the government needs to add more regulations?

Describe the three ways health and wealth : Describe the three ways health and wealth can be illustrated graphically and What are the different measures that can be used to represent health status

What ethical principles support each action : HSA3551 What are the consequences of these actions? What ethical principles support each action? What is the best decision, and can you support this decision?

User Account

All Pages