PLEASE EXPLAIN ANSWER: I give best asnwer at the end of the time limit!!! The mo

Question

PLEASE EXPLAIN ANSWER: I give best asnwer at the end of the time limit!!!

The more certain private property rights are,      

a.       A. the less people need to invest in education or human capital development.

b.      tB. The less entrepreneurship there will be.

c.      C/ the more capital accumulation there will be.

D/ d.      the more an economy must grow to maintain a certain living standard.

In general, who will benefit as the result of a tariff?

Domestic Producers
Domestic Consumers
The domestic government

a.       I only

b.      II only

c.       both I and III

d.      both II and III

e.      All of these are correct

In the long run, imports will most likely be paid for with:

a.     a. Aexports.

b.      tB. The sale of real and financial assets.

c.       C/ the extension of credit.

d.      D. higher domestic unemployment.

The World Trade Organization is a successor organization to the       

a.       A.United Nations.

b.      B.World Bank.

c.       C.International Court of Justice.

d.      D.GATT.

A new industry develops, and our government wants to protect it from foreign competition. Which one of the following arguments would appropriately describe this type of protection?

A.      ANational security

B.      BCartelization

C.      CInfant industry

D.      DProtecting American jobs

If equilibrium price falls and the equilibrium quantity of the good purchased decreases, what has happened to either the supply curve or to the demand curve?

a.       ADemand decreased.

b.      Supply increased.

c.       CSupply decreased.

d.      DDemand increased.

Suppose there is a simultaneous increase in the demand for diamonds and increase in the supply of diamonds. Which of the following will occur as a result of these simultaneous events?

a.       B/Both the market clearing price and equilibrium quantity will rise.

b.      A.The market clearing price will fall, but the equilibrium quantity may rise, fall, or stay the same.

c.       C.The market clearing price may rise, fall, or stay the same, but the equilibrium quantity will increase.

d.      F.The market clearing price will fall, but the equilibrium quantity will rise.

Price      Qd                           Qs

$2           5,000                     1,000
$4           4,000                     2,000
$6           3,000                     3,000     
$8           2,000                     4,000
$10         1,000                     5,000

Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?

a.      A/  no change, equilibrium would prevail

b.      B.The quantity demanded of garbanzo beans would fall to zero.

c.       C. shortage of 2000 garbanzo beans

d.      D/ surplus of 2000 garbanzo beans

Explanation / Answer

1)C/ the more capital accumulation there will be.

as property right indicate sole right for profit so investers invest more,making accumilation

2)d. both II and III

As producers have to pay tariff to government. only producers suffer

3)C/ the extension of credit.

4)D)GATT

WTO is successor to GATT

5) C)Infant industry

infant industry means new industry

6)CSupply decreased.

this is bcoz supply may produce less as they will get less price

7)C.The market clearing price may rise, fall, or stay the same, but the equilibrium quantity will increase.

bcoz we are not given how much demand and supply change. so it may rise fall or same

8)D/ surplus of 2000 garbanzo beans

as Qs >Qd

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.