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Information for questions 1-5 The graph below shows the supply and demand for soybeans in a certain country. The world price of soybeans is $2.00 per bushel, and this importing country is small enough not to affect the world price. The government places a tariff of $0.25 per bushel on soybean imports. For all questions, enter a whole or decimal number, as appropriate. Enter 0 if the answer cannot be obtained with the information given. Only exact answer is accepted, so double check your calculations. Note that quantities are in millions, but don’t enter the 6 zeros to make it into millions. So, if the answer were 13 million, enter 13, not 13000000. If the answer were $13 million, also enter 13 (that is, don’t enter the dollar sign). Calculate the consumer surplus after the tariff is levied.

Some observers state that the U.S. car assembly industry cannot survive against Mexican competition, since Mexican wages in this industry are much lower than American wages. However, the disadvantage of higher U.S. wages is offset by

Information for questions 8-10 A country assembles laptops made up of parts imported from the rest of the world. This country imposes a tariff of 10% on imported laptops (that is, laptops already assembled). It also imposes a tariff of 20% on imported parts that are used to assemble laptops. The following table shows what the price of one assembled laptop, and of the parts needed for one laptop, would be under free trade. You can use the blank rows and column as an aide: as you solve these questions you may want to reproduce the table in your scratch paper, and fill in the blank cells as you go.   For all questions, enter a whole or decimal number, as appropriate. For added values, enter the dollar amount (no $ sign). For the effective rate of protection enter a percentage (no % sign), not the corresponding decimal number. Make sure to enter the negative sign if the effective rate of protection is negative. For example, if the effective rate of protection is 15.6%, enter 15.6, not 0.156, and if it is -24.1%, enter -24.1, not -0.241, or 0.241, or 24.1. Enter 0 if the answer cannot be obtained with the information given. Only exact answer is accepted, so double and triple check your calculations.   Free trade (no tariff) 10% tariff on one laptop 20% tariff on parts Price of one (assembled) laptop 1500   Price of parts for one laptop 1000   Value added       Effective rate of protection     Calculate the value added of the assembling firms in this country, per laptop, after the country imposes the two tariffs.

Information for questions 1-5 The graph below shows the supply and demand for soybeans in a certain country. The world price of soybeans is $2.00 per bushel, and this importing country is small enough not to affect the world price. The government places a tariff of $0.25 per bushel on soybean imports. For all questions, enter a whole or decimal number, as appropriate. Enter 0 if the answer cannot be obtained with the information given. Only exact answer is accepted, so double check your calculations. Note that quantities are in millions, but don’t enter the 6 zeros to make it into millions. So, if the answer were 13 million, enter 13, not 13000000. If the answer were $13 million, also enter 13 (that is, don’t enter the dollar sign). Calculate the revenue that the government raises from the tariff.

A flaw in the logic of the labor argument for protection is the failure to consider

A countervailing duty is a tariff that is levied to counteract

Efficiency losses are

Trade measures are usually not the best way of addressing problems such as pollution and child labor because

Referring to the data presented, men initially have higher systolic blood pressure until they reach a certain age, in which their systolic blood pressure begins to drop below women systolic blood pressures? At approximately what age are men’s systolic pressures lower than women’s systolic pressures?

Which of the following would be part of the deadweight loss from a tariff?