**Question:**Which of the following are the methods customs appraisers use to determine the values of commodity imports? *Check all that apply.*- [ ] A cost-insurance-freight valuation- [ ] A protective valuation- [ ] The nominal tariff methods- [ ] The effective tariff methods*Note:* There are no graphs or diagrams accompanying this question.

Appraiser: An appraiser is a person who estimates the value of a commodity. For example, if a person…

Answered: Which of the following are the methods…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Sometimes governments use the 'national security' argument to justify protecting an industry with tariffs. (Choose the best answer) O Stockpiling the product is a plausible alternative to ensure national security interests without risking a trade war. O An export subsidy would always be the first best option Most countries are much weaker than the USA and therfore would never retaliate. O This argument is always plausible since tarrifs are the best way to ensure the industry is able to survive.
1. Suppose the electronic calculator industry faces severe foreign competition, and asks you to prepare a position paper its lobbyist can use to seek government assistance. Contrast the consequences of imposing a quota, negotiating a VER, and providing a production subsidy. 2. At free-trade prices, a widget sells for $20 and contains $8 worth of tin and $6 worth of rubber. In Country A nominal tariff rates are: What is the effective rate of protection on widgets in Country A? Explain briefly the economic meaning of your result. If this country were a large exporter of widgets, how would that affect your interpretation of the effective rate of protection received by this industry?
What is voluntary export restraint and when is it imposed? What are the benefits of VER? How can it affect the exporting country? How will it affect the country being exported?
Suppose the U.S. imposes a trade embargo onNorth Korea in order to exert political pressureon the government. Consider how the embargowill affect U.S. producers. Under what conditionswould they support the embargo? Why mightthey oppose it?
In the figure to the right, the importing country imposes a tariff that raises the domestic price from $8 to $12 but lowers the foreign export price from $8 to $4. The net welfare gain from this tariff for the importing country is OA. $18. OB. $4. OC. $34. O D. $16. 24- 22- 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 0- C Price, P 1 2 3 5 6 S d 8 D 9 10 11 12 Quantity, Q
When a small economy imposes a tariff on imports, net welfare O always increases. O always decreases. O may increase, decrease, or remain unchanged.
2

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Which of the following are the methods customs appraisers use to determine the values of commodity imports? Check all that apply. UA cost-insurance-freight valuation O A protective valuation O The nominal tariff methods O The effective tariff methods