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 Imports = 2 $65 Pt DWL $50 Pw Dd 8 9 10 11 12

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

Show the effects of contractiononary fiscal policy

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

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

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

Show an effective price floor and the resulting shortage or surplus

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

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

Show an effective price ceiling and the resulting shortage or surplus

Show the results of expansionary monetary policy M Ms 1 r 1 Q QM 1

The government increases subsidies to oil companies

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 $/Pounds S Pounds/$ S S 1 r r r 1 D D Quantity of Pounds Q of $$ Dollar depreciates, Pound appreciates

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

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

Show economic growth on 2 graphs

Show monopolistic competition in short-run loss Price and Costs MC ATC A 2 P 2 Loss D 2 MR = MC MR 0 Q 2 Quantity

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

The government increases income taxes on all workers

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

Draw the Laffer Curve

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

Price Discriminating v. Unregulated Monopoly