Assume that Country A has a population

Dec 9th, 2015
Price: $5 USD

Question description

Assume that Country A has a population of 500,000 and only produces 1 good: cars. Country A produces 100,000 cars per year. The people in Country A purchase 90,000 cars, but there are not enough cars to fulfill all the demand. They decide to import 50,000 more. The government buys 25,000 cars for its police force, and 10,000 cars are bought by companies to transport employees to other locations to work. They also export 65,000 cars to nearby countries for sale. Discuss the following (for all three of these questions, merely record your numerical answers).

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(Top Tutor) Daniel C.
School: Rice University

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