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Eddi Din [679]
3 years ago
7

The Japanese government restricts imports of rice into Japan. This import quota causes A. a decrease in the consumer surplus of

Japanese consumers. B. the price of rice to be lower than it would have been without the quota. C. Japanese production of rice to fall. D. a decrease in the producer surplus of Japanese rice growers.
Business
1 answer:
statuscvo [17]3 years ago
7 0

Answer:. A. a decrease in the consumer surplus of Japanese consumers.

Explanation:

When an import quota is imposed, it has the effect of limiting the imports of a commodity into an economy.

The effect of this is that supply drops as goods are no longer coming in from outside.

Because of this drop in supply, there is a increase in price.

This increase will reduce the Consumer surplus.

How?

Consumer Surplus is defined as the price that consumers pay vs the price they are willing to pay.

Because there was more supply, they were paying a price less than what they were willing to pay. As this supply has now dropped, the price they are paying is now closed to the price they are willing to pay.

Please do react or comment if you need clarification. Thank you.

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Harry goes to the local Staples store to purchase a laptop computer. He asks many questions of the salesclerk, compares various
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What is the main function of the Federal Open Market Committee?
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3 years ago
Read 2 more answers
1. The car dealer is offering a promotion on a new that the buyer pays zero interest over 72 months. The monthly payment is $350
inessss [21]

Answer:

selling price of this car is $22700  

Explanation:

given data

zero interest = 72 months

monthly payment = $350

market interest rate = 3.5% per year = 0.2917 % per month

time = 6 year = 72 months

solution

we get here present value of annuity that is

present value  annuity  = ( 0.2917 % per month , 72 months )

present value  annuity  =  64.8568

so here selling price of car is

selling price = monthly payment ×  present value  annuity  ............1

selling price = $350 × 64.8568

selling price = $22700

so selling price of this car is $22700  

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A worker wants to set aside some money for retirement, hoping to live off the interest income. If the interest rate is 10% and t
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Answer:

d) 500,000

Explanation:

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savings balance at retirement=yearly cash withdrawal/interest rate

yearly cash withdrawal=$50,000

interest rate=10%

savings balance at retirement=$50,000/10%

savings balance at retirement$500,000  

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