economics 2

Project Description:

this project has a time limit of 8 hours to complete. only reply if that time frame is within your ability. i have questions from the book (international economics 15th editions, robert j. carbaugh) to be completed within 8 hours or no deal.
thank you!

chapter 6
#13. assume that the nation of spain is “small” and unable to influence the brazilian (world) price of steel. spain’s supply and demand schedules are illustrated in table. 6.11. assume that brazil’s price is $400 per ton of steel. plot the demand and supply schedule of spain and brazil on the same graph.
table 6.11
steel supply & demand for spain
price quantity (million tons) supplied quantity (million tons) demanded
$0.................... (0)...................................... (12)
$200..................... (2).................................... (10)
$400.................. (4).................................... (8)
$600................ (6).................................... (6)
$800.................. (8)................................... (4)
$1000.................... (10).................................... (2)
$1200.................... (12)................................... (0)
a. with free trade, how many tons of steel will be produced, purchased, and imported by spain?
calculate the dollar value of spanish producer and consumer surplus.
b. suppose the brazilian government grants its steel firms a production subsidy of $200 per ton. plot brazil’s subsidy adjusted supply schedule on your graph.
what is the new market price of steel?
at this price, how much steel will spain produce, purchase, and import?
the subsidy helps/hurts spanish firms because their producer surplus rises/falls by $_____; spanish steel users realize a rise/fall in the consumer surplus of $_____.
the spanish economy as a whole benefits/suffers from the subsidy by an amount totaling $____.

chapter 7
#9. describe the strategy that east asia used from the 1970s to the 1990s to achieve high rates of economic growth. can the asian miracle continue in the new millennium?
#10. how has china achieved the status of a high-performing asian economy?
why has china’s normal trade relation status been a source of controversy in the united states?
what are the likely effects of china’s entry into the wto?
#11. what led india in the 1990s to abandon its system of import substitution, and what growth strategy did india adopt?
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