Question

Stions. Answer all of the of your work and make your question carefully and answer the question that was asked. answers as detailed as possible. Also make certain that you read the questions below in the space provided. Make sure to show 2. Answer each part of the parts, so what happens in part (a) may be useful in part (b) and so on. question in the space provided below. The question progresses in Sketch the Canadian market for wheat in autarky. Assume the autarky price is $120 per a. tonne and quantity is 20 million tonnes. Clearly label all axes, curves, the equilibrium price and quantity. (1 Mark) Assume that Canada acts as a small open economy when it comes to wheat and that the world price of wheat is $175 per tonne and Canadian production is 30 million tonnes. Clearly show and label Canada's imports or exports of wheat in the market diagram you drew for part (a) (2 Marks) b. Assume that Egypt (the world's biggest importer of wheat) places a tariff of $10 per tonne on Canadian wheat. Draw a new graph below showing the impact this action by the Egyptian government will have on the Canadian market for wheat. Clearly show the effective price for Canadian consumers and suppliers before and after the tariff, as well as any deadweight loss this policy produces. (2 Marks) c. the impact on Canadian unemployment and wages in both the short-run and the long run (3 Marks) d. Clearly show the impact of the Egyptian policy use the STATIC AD-AS model to predic

Answer 1

uuce ulti woyld b175 İLUn 20 20 30 Expout Canada ←130 Tasiisb aLt puwl 90