Question

1. The world price of a refrigerator is $520. The value of imported components used to make the refrigerator is $301. The tariff on imported refrigerators is $88, but there is a tariff of $83 on the imported components.

What is the effective rate of protection for refrigerators? ___% (round to two decimal places)

2.

P* – – – – – – 6 Pw d Leif 18 Pdump Q1 Q2 Q3 Q4 Q5

In the graph above, Pw=30, Pdump=13, Q1=6, Q2=10, Q3=15, Q4=20, Q5=22.

Germans are able to buy steel on the world market. The graph above shows the German market for Steel. According to the graph above, if US firms dump steel in Germany at a price of Pdump, how will German consumers of steel be affected?

Enter the amount of their change in welfare. If they're better off, enter a positive number; if they're worse off, enter a negative number. Round to two decimal places.

Answer 1

0 Nominal tariff n- ge - 0.16923 a- Bol = 0.578846 520 b- nominal Effective rate e rate on n-ab 1-a imported products o – 6. 16929 - (0.5188960) 2-0 578846 0.4018 - 140.187