4. Study Questions and Problems #4 Suppose the United States imposes a tariff of 4% on foreign automobiles. If a foreign automobile costs $40,000, the amount of the tariff equals million. S per car. If 30,000 foreign cars are imported, then the total revenue raised for the U.S. Treasury is S True or False: Imposing tariffs on foreign goods can lead to retaliatory tariffs being put on domestically produced goods. True O False
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- The Japanese yen increases in value relative to the dollar, moving from 120 yento 110 yen to each U.S. dollar. From the perspective of a U.S. firm that produces in the UnitedStates and exports its product to sell in Japan:a. This is bad news.b. It doesn’t matter.c. This is good newsAssume the United States is an importer of televisions and there are no trade restrictions.US consumers buy 1 million televisions per year, of which 400,000 are produceddomestically and 600,000 are imported,a. Suppose that a technological advance among Japanese television manufacturers causes the world price of televisions to fall by $100. Draw a graph to show how this change affects the welfare of U.S. consumers and U.S. producers and how it affects total surplus in the United States.b. After the fall in price, consumers buy 1.2 million televisions, of which 200,000 are produced domestically and 1 million are imported. Calculate the change in consumer surplus, producer surplus, and total surplus from the price reduction. c. If the government responded by putting a $100 tariff on imported televisions, what would this do? Calculate the revenue that would be raised and the deadweight loss. Would it be a good policy from the standpoint of U.S. welfare? Who might support the policy?d.…Suppose British pound = $1.60, Canadian dollar = $0.74, explain indirect rate, how many pounds must a British company pay to purchase goods costing $8,000 from a U.S. company?
- 14-An Omani exporter expecting that appreciation of OMR in relative to USD. How it will affect if the Omani exporter's receipts are in USD? a. USD depreciated relative to OMR, hence the exporter receive fewer OMR b. OMR depreciated relative to OMR, hence the exporter receive fewer OMR c. None of the options d. USD appreciated relative to OMR, hence the exporter receive fewer OMRASAP If answer is correct I'll give you Upvote. Caculation: A company exports commodity X to Canada, if the total purchase price(including VAT 17%) is RMB 247500, the rate of expense standard is 5%, the rate of export tax rebate is 14%, the total freight is USD245.00, the company insures against all risks for 110% of invoice value, the premium rate is 1.5%, the profit is 10% based on purchase price. Rate of foreign exchange: USD1.00=RMB6.50 what are FOB price, CFR price and CIF price respectively?F4. Sonic Corporation imports materials from a Nigerian supplier. Assume that it is 2020 and Sonic Corporation is worried that the Nigerian supplier may enter into a long-term contract with Chinese customer to sell all of their output to the Chinese customers, hence cutting off Sonic Corporation's supply. In the event of such a contract with the Chinese customers, Sonic Corporation will face much higher costs for its raw materials causing its operating profits to decline substantially and its marginal tax rate to fall from its current level of 25% down to 10%. An insurance firm has agreed to write a trade insurance policy that will pay Sonic Corporation $3,700,000 in the event of the Nigerian supply of materials being cut off. The chance of the Nigerian supply being cut off is estimated to be 30%, with a beta of -1.50. The risk-free rate of interest is 3% and the return on the market is estimated to be 10%. What is Sonic's NPV for purchasing this policy? (Hint: you need to determine…
- 1) Explain how each of the following scenarios, holding other things equal, will affect the value of thecherrio.Scenarios:a. U.S. inflation has suddenly increased substantially, while inflation in Cherryland remains low.b. Real interest rates have increased substantially in the U.S.; while real interest rates in Cherrylandremain low.c. The U.S. income level increased substantially, while in Cherryland income level has remainedunchanged.d. The U.S. is expected to impose a small tariff on goods imported from Cherryland.2) Aggregate all of these impacts to develop an overall forecast of the cherrio’s movement against theU.S. dollarUnited Kingdom Imports. Toyota manufactures in Japan most of the vehicles it sells in the United Kingdom. The base platform for the Toyota Tundra truck line is JPY1,650,000. The spot rate of the Japanese yen against the British pound has recently moved from JPY197 = GBP1.00 to JPY190 = GBP1.00. How does this change the price of the Tundra to Toyota’s British subsidiary in British pounds?Assume the New Taiwan dollar (NT$) value is tied to the Canadian dollar (CAD) and willremain tied to the Canadian dollar.Last month, a NT$ = 0.35 Singapore dollars. Today, a NT$ = 0.25 Singapore dollars. Assumethat there is much trade in the computer industry among Singapore, Taiwan, and Canada and thatall products are viewed as substitutes for each other and are of about the same quality. Assumethat the firms invoice their products in their local currency and do not change their prices.a. Will the computer exports from the Canada to Taiwan increase, decrease, or remain the same?Briefly explain. (2%)b. Will the computer exports from Singapore to the Canada increase, decrease, or remain thesame? Briefly explain.
- In the spot market, 17.6 Mexican pesos can be exchangedfor 1 U.S. dollar. A compact disc costs $15 in the United States. If purchasing power parity(PPP) holds, what should be the price of the same disc in Mexico?22-An Omani company imported goods from Europe for EUR 20,000. The spot rate for EUR 2.5/OMR. If the company wants to purchase EUR 20,000, how much the company has to pay in Omani riyals? a. None of the options b. 8,000 OMR for EUR 20,000 c. 7,000 OMR for EUR 20,000 d. 50,000 OMR for EUR 20,000QUESTION 1: Which groups benefited most from China imposing an export quota on rare earth metals? Did it give the Chinese domestic manufacturers a significant cost advantage? Did it result in dramatically increased quality and environmental standards? QUESTION 2: Given that 97 percent of rare earth metal production is now done in China, an increase from 27 percent to 97 percent between 1990 and 2010, do you think countries such as Australia, Canada, and the United States should reconsider their environmental restrictions on the production of such metals? QUESTION 3: The restrictions imposed by China on rare earth metals has resulted in some companies (e.g. Toyota, Renault, Tesla) starting to look for alternatives. They plan to use parts that do not include rare earth metals. Is this a good solution?