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End of the Year Graphing Quiz Review

End of the Year Graphing Quiz Review. The government adds a $15 tariff to imported steel. The domestic price is $75 w/ a Qd of 10, world price is $50 w/ a Qd of 12 and Qs of 8. The tariff reduces imports by 2 mill. Graph and show dead weight loss and tax revenue. Sd. $75 Pd. DWL.

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End of the Year Graphing Quiz Review

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  1. End of the Year Graphing Quiz Review

  2. The government adds a $15 tariff to imported steel. The domestic price is $75 w/ a Qd of 10, world price is $50 w/ a Qd of 12 and Qs of 8. The tariff reduces imports by 2 mill. Graph and show dead weight loss and tax revenue Sd $75 Pd DWL Imports = 2 $65 Pt $50 Pw Dd 8 9 10 11 12

  3. The economy is facing inflation. Show the most likely FED action graphically and state what happens to price, GDP, unemployment, interest rates and money supply M goes down, I goes up, GDP goes down, Unemployment goes up

  4. Show the effects of contractiononary fiscal policy

  5. 100 80 60 Percentage of Income 40 20 0 20 40 60 80 100 Percentage of Households Draw a Lorenz curve showing our economy before and after government transfers Lorenz Curve After Taxes and Transfers Lorenz Curve Before Taxes and Transfers

  6. Draw a quota of 2 million units with domestic price of $100, Qd of 10, World Price = $80 and Qd = 12 and Qs = 8

  7. Taxes for all workers are reduced by Congress. Show the results

  8. Show an effective price floor and the resulting shortage or surplus

  9. On side-by-side graphs, show the effects of expansionary fiscal policy Int Q of loanable funds

  10. Draw a graph showing points of production for a Monopoly that is regulated v. unregulated

  11. Show an effective price ceiling and the resulting shortage or surplus

  12. Show the results of expansionary monetary policy Ms1 M r1 Q QM1

  13. The government increases subsidies to oil companies

  14. Americans want to travel to Britain to watch soccer/football. Show this on side-by-side Forex graphs and state what happens to the value of each currency Pounds/$ $/Pounds S S S1 r1 r r r1 D1 D D Quantity of Pounds Q of $$ Dollar depreciates, Pound appreciates

  15. $200 150 Cost and Revenue 100 50 0 1 2 3 4 5 6 7 8 9 10 Output Graph pure competition making economic profits MR = MC P=$140 MC Economic Profit MR = P ATC AVC

  16. The price of Pepsi decreases. Show the resulting demand for Coca-Cola, a substitute

  17. Show economic growth on 2 graphs

  18. Show monopolistic competition in short-run loss ATC MC A2 P2 Loss Price and Costs D2 MR = MC MR 0 Q2 Quantity

  19. Graph an inflationary gap of $200 B LRAS PL AS P AD Qf 400 600 RGDP

  20. The government increases income taxes on all workers

  21. Doctors report that exercise is actually good for you. Show the resulting graph for gym memberships

  22. Draw the Laffer Curve

  23. Graph a $1 tax shared by the consumer and producer equally

  24. Price Discriminating v. Unregulated Monopoly

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