ZuoTi.Pro
Question

A government might choose to implement a price floor to O A. keep specific prices up. O B. satisfy notions of equity. O c. giDemand and Supply Schedules for Chocolate Bars Price Quantity Demanded Quantity Supplied ($) (thousands per week) (thousandsThe figure to the right shows the market for T-shirts in a Hamilton neighbourhood. The economic surplus generated by consuminThe diagram shows the market for gardening services. At the market-clearing price and quantity of $30 per hour and 4000 hoursThe diagram shows the market for litres of milk. After the imposition of a milk quota at quantity Q,, economic surplus is repMarket B 8.007 H Market A 8.00 7.607 7.20+... 6.807..... 7.60* Q Wage ($) on Wage ($) Ö 7.207. 6.807. u IIIII • 400 800 1200An example of a regressive tax in Canada is O A. the typical property taxes in Canadian cities and towns. O B. the provincialFrom the perspective of individuals, the goods and services tax (GST) applies to O A. profits for self-employed individuals.The various provincial sales taxes are mildly regressive because O A. richer households spend more in total and therefore payInterest earnings from accumulated savings are subject to personal income tax in Canada. As a result, O A. individuals have aThe two main competing goals in the design of a tax system are O A. efficiency and productivity. O B. growth and productivityWhat information is conveyed by the shape of the Laffer curve ? O A. the relationship between the governments sales - tax yiIn 2018, U.S. President Donald Trump argued that his countrys trade agreements with other countries were bad for the UnitedA worker in Spain can either produce 2 litres of wine or 2 kilos of cheese per day. A worker in Portugal can either produce 4The following production possibilities schedule shows the quantities of soybeans and oil that can be produced in Canada and MThere will be no gains from specialization and trade between two countries if 1) neither country has an absolute advantage inIf Canada has the same opportunity costs as another country in producing products, then O A. no trade would occur because Can

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

It's mandatory to solve only first 4 parts

Q1) option D)

all options are correct, bcoz price floor artificially leads to higher prices, sometimes to appease the influential lobby groups

Q2) option B)

a price floor above eqm price of 1.2 will be required

So price floor of $2 will be right

Q3) option D)

Eco surplus = MB - MC ( at 37th unit)

= 56-37

= 19

Q4) option E)

economic surplus is sum of CS = 5,6,4

& PS = 3,7,8

Q5) option D)

area 1,2,3

0 0
Add a comment
Know the answer?
Add Answer to:
A government might choose to implement a price floor to O A. keep specific prices up....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Please help me with my economics homework? 1. The United States and Brazil each produce only...

    Please help me with my economics homework? 1. The United States and Brazil each produce only cheese and wine. Domestic prices are given in the following table United States $5 per pound Brazil 8 BRL per pound 15 BRL per bottle Wine $8 per bottle On April 1, the London exchange listed an exchange rate of $1-1 BRL According to the table, (1) production of wine has an absolute advantage in the production of cheese and (2) has an absolute...

  • Suppose the United Kingdom and Norway both produce ol and fish oil, which are sold for...

    Suppose the United Kingdom and Norway both produce ol and fish oil, which are sold for the same prices in both countries. The following table shows combinations of both goods that each country can produce in a day, measured in thousands of barrels, using the same arnaunts of capital arnd labor United K Fish 12 ish 12 Who has the comparative advantage i preducing oil? A. Nelther country has a comperative advantage producing oll because their opportunity costs of producing...

  • suppose that France and Denmark both produce oil and cheese ttempts: 5. The price of trade...

    suppose that France and Denmark both produce oil and cheese ttempts: 5. The price of trade Suppose that France and Denmark both produce oil and cheese. France's opportunity cost of producing a pound of cheese is 4 barrels of oil while Denmark's opportunity cost of producing a pound of cheese is 10 barrels of oil. By comparing the opportunity cost of producing cheese in the two countries, you can tell that production of cheese and has a comparative advantage in...

  • In 2018, U.S. President Donald Trump argued that his country's trade agreements with other countries were...

    In 2018, U.S. President Donald Trump argued that his country's trade agreements with other countries were bad for the United States and were unfairly benefiting America's trading partners. What does the theory of the gains from trade have to say about such arguments? In general, the basic theory of the gains from trade O A. suggests that free international trade leads increased consumption possibilities for all countries involved (as long as there are differences in opportunity costs). Free trade cannot...

  • 1a. Suppose that each worker in Home can produce 2 pound of cheese or 3 gallons...

    1a. Suppose that each worker in Home can produce 2 pound of cheese or 3 gallons of wine. Assume that Home has 40 workers. a. Graph the production possibilities frontier (PPF) for Home? What is the no-trade relative price of cheese in Home? Why? b. Suppose that each worker in Foreign can produce 1 pounds of cheese or 2 gallons of wine. Assume that Foreign also has 40 workers. Graph the PPF for Foreign? What is the no-trade relative price...

  • If Canada has the same opportunity costs as another country in producing products, then O A....

    If Canada has the same opportunity costs as another country in producing products, then O A. no trade would occur because Canada would have an absolute advantage in producing everything. O B. trade would occur, but only because other countries pay too much for Canada's production. O c. trade would probably take place because Canada would likely have a comparative disadvantage in producing some goods. OD. no trade would occur because Canada would not have a comparative advantage in producing...

  • No need to explain in detail. I just want to check my answer. But please provide...

    No need to explain in detail. I just want to check my answer. But please provide me a formula. 1. The principle of comparative advantage asserts that a. not all countries can benefit from trade with other countries. b. the world price of a good will prevail in all countries, regardless of whether those countries allow international trade in that good. c. countries can become better off by exporting goods, but they cannot become better off by importing goods. d....

  • Suppose initially that the United States is consuming 2 boots and 18 shirts and Canada is...

    Suppose initially that the United States is consuming 2 boots and 18 shirts and Canada is consuming 12 boots and 2 shirts, as indicated in the figure. ​ Then, suppose the United States and Canada specialize by each only producing the good for which they have a comparative advantage and then trade. In​ particular, suppose the United States trades Canada half of its production for half of what Canada produces.? Using the same amount of resources, the United States and...

  • The United States will have 0 additional shirt(s) after the trade (enter a numeric response using...

    The United States will have 0 additional shirt(s) after the trade (enter a numeric response using an integer) and __ additional boot(s). At the same time, Canada will be able to consume ___ additional shirt(s) as a result of the trade and ___ additional boot(s). Homework: Homework Assignment 1 Save Score: 0.57 of 1 pt 12 of 19 (12 complete) HW Score: 60.9%, 11.57 of 19 pts % End of Chapter 2.4 :3Question Help • Using the same amount of...

  • Please help me with Economics Homework? 3. Great Britain and the United States produce cheddar cheese...

    Please help me with Economics Homework? 3. Great Britain and the United States produce cheddar cheese and blue cheese. Current domestic prices per pound for each type of cheese are given in the following table: Great Britain 210 £20 States Blue cheese $50 Suppose the exchange rate is £1-$1 If the price ratios within each country relect resource use, (1) has a comparative advantage in the production of cheddar cheese. (2)- has a comparative advantage in the producton of blue...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT