1. Explain each of the following statements using supply-and-demand diagrams. a. "When a cold snap hits Florida, the price of orange juice rises in supermarkets throughout the country."b. "When the weather turns warm in New England every summer, the price of hotel rooms in Caribbean resorts plummets."c. "When a war breaks out in the Middle East, the price of gasoline rises and the price of a used Cadillac falls."Hints: • Draw both supply and demand curve of each section in one diagram• Show how price changes• 1c – affects 2 markets (Gasoline & Cadillacs – 2 graphs)Using supply-and-demand diagrams, show the effect of the following events on the market for sweatshirts. a. A hurricane in South Carolina damages the cotton crop. b. The price of leather jackets falls. c. All colleges require morning exercise in appropriate attire. d. New knitting machines are invented. Hints: • Draw both supply and demand curve of each section in one diagram• Show how price and quantity changes

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Need today! will get brainliest for right answer! compare and contrast absolute advantage and comparative advantage.

Experienced problem solvers always consider both the value and units of their answer to a problem. why?