Homework Answers
A tax that is imposed by the US government on imported Chinese frozen shrimp would actually be an example of customs duty or indirect tax where indirect tax is nothing but the tax on goods and services and not income or profits.
Therefore 'indirect tax' is the answer to this question
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A tax imposed by the US government on imported Chinese frozen shrimp would be an example...
Essay Two: The US Government has implemented many tariffs on Chinese goods imported into this country....
Essay Two: The US Government has implemented many tariffs on Chinese goods imported into this country. The Administration’s stated goals are two fold; 1) help US companies in these business segments and 2) make China pay for the cost of lost jobs in these business segments. Answer the following questions in your essay. · Do tariffs like this work to improve US jobs? · Will or has China retaliated by adding tariffs on US goods, and if so what has...
What would happen if the US government imposed a price floor restriction on college tuition? For...
What would happen if the US government imposed a price floor restriction on college tuition? For example, all students must now pay at least $50,000 per year, no matter what school they attend - what would happen at the schools that are the most and least expensive? What decisions would students make about choosing schools? Similarly, what do you think would happen if there was a price ceiling on tuition? In this case, all students would pay no more than...
Please do both The US government announced a tax on imported leather. At the same time,...
Please do both
The US government announced a tax on imported leather. At the same time, leather jackets have increased in popularity among teens and young-adult population. Given these events, the final effect in the leather jacket market would be:. And, the final effect on the market of leather would be: 7. 8. OPEC (Organization of the Petroleum Exporting Countries) announced it will decrease oil production by 20 percent in the near future. At the same time, India's income increased...
True or False: In 2009, the U.S. government imposed a 35% tariff on tires imported from...
True or False: In 2009, the U.S. government imposed a 35% tariff on tires imported from China. (The facts included in this problem are simplifications from the results of a much larger model.) Tires imported from China all are Tier 3 tires, the lowest-quality tires available in the U.S. Assume for this problem that the tariff was $20. The supply of tires from China is perfectly elastic. Domestic U,S. production of these țires is zero. Before the tariff, the price...
The US government announced a tax on imported leather. At the same time, leather jackets have...
The US government announced a tax on imported leather. At the same time, leather jackets have increased in popularity among teens and young-adult population. Given these events, the final effect in the leather jacket market would be:. And, the final effect on the market of leather would be: 7. 8. OPEC (Organization of the Petroleum Exporting Countries) announced it will decrease oil production by 20 percent in the near future. At the same time, India's income increased from $3,400 per...
Question 7 3 pts If the Chinese government sell off most of the US government securities...
Question 7 3 pts If the Chinese government sell off most of the US government securities it holds, (A) the dollars will appreciate. (B) the federal government deficit declines. (C) the dollar will depreciate. (D) the U.S. money supply decreases.
The government raises the sales tax on shirts. The tax is imposed on sellers. As a...
The government raises the sales tax on shirts. The tax is imposed on sellers. As a result, the demand curve for shirts becomes horizontal. supply curve of shirts shifts leftward. demand curve for shirts becomes vertical. supply curve of shirts shifts rightward.
Malaysian government has imposed import tariffs on imported photocopy machine from China to protect their local...
Malaysian government has imposed import tariffs on imported photocopy machine from China to protect their local industry from foreign competition. Given are the two equations of domestic demand and supply of photocopy machine in Malaysia: Demand: Qd= 135 - 5P Supply: Qs= 15 + 15P where Q denotes quantity (in thousand units) and P denotes price (in RM thousand per unit). i) If the world price is RM5 thousands per unit and import tariff of 10% is imposed, determine the...
A tariff is a tax on imported goods. Suppose the U.S. government cuts the tariff on...
A tariff is a tax on imported goods. Suppose the U.S. government cuts the tariff on imported flat screen televisions. Using the four-step analysis found on pages 61-62 of Chapter 3, how do you think the tariff reduction will affect the equilibrium price and quantity of flatscreen TVs?
For many years, the Chinese government imposed price ceilings on fresh fish, to promote ‘fair’ prices....
For many years, the Chinese government imposed price ceilings on fresh fish, to promote ‘fair’ prices. The price was equivalent to $4/kilo, and at this price, a fisher (a firm) earned zero profits. There were many people who wanted to buy fresh fish at this price but could not obtain it. As part of China’s economic reforms, the government abolished the fish price ceilings. The price immediately shot up to $12/kilo, but after a year, the price dropped to $8/kilo...
Please do both
The US government announced a tax on imported leather. At the same time, leather jackets have increased in popularity among teens and young-adult population. Given these events, the final effect in the leather jacket market would be:. And, the final effect on the market of leather would be: 7. 8. OPEC (Organization of the Petroleum Exporting Countries) announced it will decrease oil production by 20 percent in the near future. At the same time, India's income increased...
True or False: In 2009, the U.S. government imposed a 35% tariff on tires imported from China. (The facts included in this problem are simplifications from the results of a much larger model.) Tires imported from China all are Tier 3 tires, the lowest-quality tires available in the U.S. Assume for this problem that the tariff was $20. The supply of tires from China is perfectly elastic. Domestic U,S. production of these țires is zero. Before the tariff, the price...
The US government announced a tax on imported leather. At the same time, leather jackets have increased in popularity among teens and young-adult population. Given these events, the final effect in the leather jacket market would be:. And, the final effect on the market of leather would be: 7. 8. OPEC (Organization of the Petroleum Exporting Countries) announced it will decrease oil production by 20 percent in the near future. At the same time, India's income increased from $3,400 per...
Question 7 3 pts If the Chinese government sell off most of the US government securities it holds, (A) the dollars will appreciate. (B) the federal government deficit declines. (C) the dollar will depreciate. (D) the U.S. money supply decreases.
The government raises the sales tax on shirts. The tax is imposed on sellers. As a result, the demand curve for shirts becomes horizontal. supply curve of shirts shifts leftward. demand curve for shirts becomes vertical. supply curve of shirts shifts rightward.
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