Note :. Please fill in the graph, the chart, the variable levy adjustment, and the effects of the variable levy on international trade at the bottom. Thanks The following graph shows the market for wheat in the European Union (EU). The world price of wheat is $2.00 per bushel, so Sworld represents theworld supply assuming that the EU cannot affect the world price of wheat. To support the agricultural sector, the EU guarantees a certain price for thefarmers by imposing a variable levy of $2.00 per bushel to limit the import of wheat.On the graph, use the purple line (diamond symbol) to show the support price the farmers receive due to the variable $2.00 levy.Note: Select and drag the line segment from the palette to the graph. Then select a point on the line segment and drag it to its desired position.(?PRICE (Dollars per bushel10.009.008.007.006.005.004.003.002.001.000PRICE (Dollars prBefore the levyAfter the levv+0 1600 3000 4500 6000 7500 9000 10600 12000 13500 16000WHEAT (Bushels)5.004.003.00DEUFill in the following table by entering the quantities for production, consumption, and imports of wheat in the EU before and after the $2.00 levy.Production Consumption Imports(Bushels)(Bushels) (Bushels)2.001.000SEU"WorldxBefore the levyAfter the levySupport PriceSSworld0 1600 3000 4500 6000 7600 9000 10500 12000 13500 15000WHEAT (Bushels)World, NewFill in the following table by entering the quantities for production, consumption, and imports of wheat in the EU before and after the $2.00 levyProduction Consumption Imports(Bushels)(Bushels)(Bushels)Suppose that the world price of wheat rises to $3.00 per bushel, but the EU keeps the same support price for the farmers.On the previous graph, use the grey line (star symbol) to draw the new world supply curve (Sworld.New).Given the change in the world price, the variable levy adjusts to $per bushel of wheat in order to maintain the support price.Which of the following describe the effects of the variable levy on international trade? Check all that apply.Foreign producers have an incentive to cut prices to maintain export sales.Foreign producers are more aggressive in subsidizing their exports to capture a larger share of the world market.Foreign producers are discouraged from reducing prices to maintain export sales.

An import levy refers to a tax levied on goods brought into a country from abroad. It is…

The following graph shows the market for wheat in the European Union (EU). The world price of wheat is $2.00 per bushel, so Swond represents the world supply assuming that the EU cannot affect the world price of wheat. To support the agricultural sector, the EU guarantees a certain price for the farmers by imposing a variable levy of $2.00 per bushel to limit the import of wheat. On the graph, use the purple line (diamond symbol) to show the support price the farmers receive due to the variable $2.00 levy. Note: Select and drag the line segment from the palette to the graph. Then select a point on the line segment and drag it to its desired position. (?) PRICE (Dollars 10.00 9.00 8.00 7.00 6.00 4.00 3.00 2.00 1.00 0 PRICE (Dollars pr 0 1500 3000 4500 6000 7500 9000 10600 12000 13500 15000 WHEAT (Bushels) Before the levy After the lev 5.00 Fill in the following table by entering the quantities for production, consumption, and imports of wheat in the EU before and after the $2.00 levy. Production Consumption (Bushels) (Bushels) 4.00 DEU 2.00 1.00 a SEU Z Support Price Imports (Bushels) Before the levy After the levy Swy Now 0 1500 3000 4500 6000 7500 9000 10500 12000 13500 15000 WHEAT (Bushels) Sworld Fill in the following table by entering the quantities for production, consumption, and imports of wheat in the EU before and after the $2.00 le Production Consumption Imports (Bushels) (Bushels) (Bushels) Suppose that the world price of wheat rises to $3.00 per bushel, but the EU keeps the same support price for the farmers. On the previous graph, use the grey line (star symbol) to draw the new world supply curve (Sworld New) Given the change in the world price, the variable levy adjusts to S per bushel of wheat in order to maintain the support price. Which of the following describe the effects of the variable levy on international trade? Check all that apply. Foreign producers have an incentive to cut prices to maintain export sales. Foreign producers are more aggressive in subsidizing their exports to capture a larger share of the world market. Foreign producers are discouraged from reducing prices to maintain export sales.

The following graph shows the market for wheat in the European Union (EU). The world price of wheat is $2.00 per bushel, so Swond represents the world supply assuming that the EU cannot affect the world price of wheat. To support the agricultural sector, the EU guarantees a certain price for the farmers by imposing a variable levy of $2.00 per bushel to limit the import of wheat. On the graph, use the purple line (diamond symbol) to show the support price the farmers receive due to the variable $2.00 levy. Note: Select and drag the line segment from the palette to the graph. Then select a point on the line segment and drag it to its desired position. (?) PRICE (Dollars 10.00 9.00 8.00 7.00 6.00 4.00 3.00 2.00 1.00 0 PRICE (Dollars pr 0 1500 3000 4500 6000 7500 9000 10600 12000 13500 15000 WHEAT (Bushels) Before the levy After the lev 5.00 Fill in the following table by entering the quantities for production, consumption, and imports of wheat in the EU before and after the $2.00 levy. Production Consumption (Bushels) (Bushels) 4.00 DEU 2.00 1.00 a SEU Z Support Price Imports (Bushels) Before the levy After the levy Swy Now 0 1500 3000 4500 6000 7500 9000 10500 12000 13500 15000 WHEAT (Bushels) Sworld Fill in the following table by entering the quantities for production, consumption, and imports of wheat in the EU before and after the $2.00 le Production Consumption Imports (Bushels) (Bushels) (Bushels) Suppose that the world price of wheat rises to $3.00 per bushel, but the EU keeps the same support price for the farmers. On the previous graph, use the grey line (star symbol) to draw the new world supply curve (Sworld New) Given the change in the world price, the variable levy adjusts to S per bushel of wheat in order to maintain the support price. Which of the following describe the effects of the variable levy on international trade? Check all that apply. Foreign producers have an incentive to cut prices to maintain export sales. Foreign producers are more aggressive in subsidizing their exports to capture a larger share of the world market. Foreign producers are discouraged from reducing prices to maintain export sales.

Principles of Macroeconomics (MindTap Course List)

7th Edition

ISBN:9781285165912

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 8PA

See similar textbooks