Other Economics Answers

Crude oil is an example of , whereas lubricant oils is an example of for BPSA

who wrote the book The Wealth of Nations

Brazil is the world’s largest coffee producer. Suppose the functions of domestic supply of and the domestic demand for coffee in that country are given as 𝑆 𝑑 = 80 + 20𝑃 and 𝐷 𝑑 = 200 − 20P respectively, while the function of the world supply of coffee is 𝑆 𝑑+𝑤 = 50 + 100𝑃. The supply of and the demand for coffee are measured in million 60 kg bags, while the price is measured in USD.

a)In autarky, what would be the equilibrium price of coffee, the quantity of coffee produced and the quantity of coffee consumed in Brazil?

b)When Brazil opens trade, what would be the equilibrium price of coffee, the quantity of coffee produced and the quantity of coffee consumed?

c)If the country imposes a 72 percent ad valorem tariff on the imported coffee, what is the new function of the world supply of coffee? Next, calculate the equilibrium price, the quantity of coffee produced by domestic firms, the quantity of coffee consumed by the domestic consumers and the quantity of coffee imported?

Limited liabilities partnership (LLP) was first introduced in Malaysia in 2012 through the introduction of Limited Liabilities Partnership Act 2012. Since then, LLP has been on of the popular which business entity among business owners used for the running of business operations due to the benefits and flexibility that LLPs have. 

a) Explain TWO (2) difference between Limited liabilities partnership and a conventional corporation in terms of statutory compliance requirement.  

Which of the following is correct about an increase in interest rate in the Keynesian model?

[1] increase price levels

[2] decrease price levels

[3] increase investment

[4] decrease investment

Which one of the following is correct regarding contractionary fiscal policy in the Keynesian model? It will…

[1] decrease inventories

[2] increase inventories

[3] increase investment

[4] decrease investment

Fiscal policy includes …

[1] policy on government spending on official travel allowances of politicians

[2] policy on consumption taxes such as those on cigarettes

[3] policy on salaries paid to government employees and politicians

[4] all the policies set out in statements [1] to [3] above

In the Keynesian model, when the tax rate increases...

[1] the multiplier increases.

[2] the equilibrium level of income increases.

[3] net exports increase.

[4] the equilibrium level of income decreases.