What would be the effective rate of protection on bicycles in China if China places a 50 percent tariff on bicycles, which have a world price of $200, and no tariff on bike components, which together have a world price of $100?
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What would be the effective rate of protection on bicycles in China if China places
a 50 percent tariff on bicycles, which have a world price of $200, and no tariff on
bike components, which together have a world price of $100?
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- Suppose a U.S. firm purchases some Chinese handicrafts. The china costs 1,000 Chinese yuan. At the exchange rate of $1.00 = 6.2 yuan, the dollar price of the goods is:Two countries, the United States and England produce just one good wheat. Suppose the price of wheat in the United States is $3.25 and in England it is £1.35.a. According to purchasing power parity, what should the $:£ spot exchange rate be?b. Suppose the price of wheat over the next year is expected rise to $3.50 in the United States and to £1.60 in England. What should the one-year $:£ forward rate be c. If the United States government imposes a tariff of $.50 per bushel on wheat imported from England, what is the maximum possible change in the spot exchange rate that could occur?Assume 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.…
- If a U.S. firm desires to avoid the risk from exchange rate fluctuations, and it will need C$200,000 in 90 days to make payment on imports from Canada, it could: A. obtain a 90-day forward purchase contract on Canadian dollars. B. obtain a 90-day forward sale contract on Canadian dollars. C. purchase Canadian dollars 90 days from now at the spot rate. D. sell Canadian dollars 90 days from now at the spot rate.A U.S. consumer observes that a golf club costs $200. Currently in the spot market, 1 eurocan be exchanged for $1.1924. If purchasing power parity (PPP) holds, how many eurosshould you expect to pay for the same golf club in Europe?Suppose that a chocolate bar costs 20 euros in France and 30 Singaporean dollars in Singapore. If the exchange rate is 1.20 euros per Singaporean dollars, what is the real exchange rate?
