题目
题目

01:220:300:01 INTERNATIONAL ECON Qz04: Trade barriers

单项选择题

Suppose that the equations S = 2P and D = 6 – P represent a small country's home supply and home demand curves. If the world price is $1, which of the following is the increase in the country's welfare when it trades compared with autarky?

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标准答案
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思路分析
First, restate what the question provides and what is being compared. The domestic country has the supply function S = 2P and the demand function D = 6 − P. Under autarky (no trade), the world price is not applicable; with trade, the given world price is P_world = 1, and we compare welfare (consumer plus producer surplus) between autarky and trading. Step 1: Find autarky equilibrium and welfare. - Autarky occurs where S = D: 2P = 6 − P, so 3P = 6 and P_autarky = 2. - Quantity traded (autark......Login to view full explanation

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类似问题

Suppose you initially produce 1 cherry pie and 1 cheesecake, and your neighbor produces 1 cherry pie and 3 cheesecakes. After you decide to specialize and trade you produce 2 cherry pies and 0 cheesecakes, and your neighbor produces 0 cherry pies and 6 cheesecakes. What are the total gains from trade?

Question91 Consider the following production data for Germany and Spain:[table] | Germany | Spain Labour force | 50 | 180 Bottles of cider per worker | 80 | 25 Loaves of bread per worker | 8 | 2 [/table] Assume that each country spends half of their income in each good. Please consider cider to be the numeraire good.Choose the best alternative based on the information from the previous Table Under Free Trade, the increase in aggregate consumption (with respect to Autarky) of bread is 400 loaves of bread Under Free Trade, the increase in aggregate consumption (with respect to Autarky) of cider is 400 bottles Under Free Trade, the increase in aggregate consumption (with respect to Autarky) of cider is 250 bottles Under Free Trade, the increase in aggregate consumption (with respect to Autarky) of cider is 200 bottles Under Free Trade, the increase in aggregate consumption (with respect to Autarky) of bread is 250 loaves of bread ResetMaximum marks: 2 Flag question undefined

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Question at position 2 Dale is a guitar teacher and Terrence is a tile layer. If Dale teaches Terrence's daughter to play the guitar in exchange for Terrence tiling Dale's kitchen floor,only Terrence is made better off by trade.neither Dale nor Terrence are made better off by trade.only Dale is made better off by trade.both Dale and Terrence are made better off by trade.

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