Macro Economic essayTake into account an instance of the Saudi clothes market; if the provision and demand represented as: Qs = - 200 + 4p ;Qd = 800 – p Clear up: Equilibrium value and equilibrium amount and calculate complete income?
If there have been a value celling equal to 250 SAR per every fabric imposed, calculate the worth elasticity of demand? Does this contemplate elastic, inelastic or unit elastic?Additionally, calculate the whole income?
Now contemplate the sneakers market; if the provision and demand is:
i.Qs = -100 + 3p ; Qd = 800 – 6p, calculate the equilibrium value and equilibrium amount.Additionally, calculate Whole Income.
ii.If there have been a value celling of 120 SAR imposed per every pair of sneakers, calculate the worth elasticity of demand? Does the sneakers contemplate elastic, inelastic or inelastic or unit elastic? Additionally calculate complete income.
Evaluate the whole income for the clothes market and the whole income you discovered on the clothes market.Which one in every of product’s complete income has been elevated after the worth have been enhance and why?
Recall half a (the fabric market) Calculate the CS & PS.
Now, if the federal government impose gross sales tax equal to 12.5% on fabric, what's the CS, PS, authorities income, DWL and present this on the graph?
With out calculation, would you count on to have larger/ decrease authorities income and DWL on sneakers and why?
Assume that Saudi Arabia produce solely two merchandise; Espresso bean and plastic the place are the worth and amount produced are: 12 months Espresso bean Plastic 2018 (base 12 months) P= 10 SAR Q= 1,000 P= 5 SAR Q= 2,000 2019 P= 10 SAR Q= 1,100 P= 5 SAR Q= 2,100 2020 P= 12 SAR Q= 900 P= 6 SAR Q= 1,900 Calculate GDP deflator for the years 2018, 2019 and 2020.Additionally, calculate the Nominal and actual GDP progress on 2019 & 2020, examine between them by explaining why they're totally different.Calculate the 2019 & 2020 inflation charges. ATTACHMENTS -research paper writing service