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luda_lava [24]
3 years ago
15

Suppose that the production of $500,000 worth of steel in the United States requires $100,000 worth of iron ore. The U.S. nomina

l tariff rates are 15 percent for steel and 5 percent for iron ore. Given this information, the effective rate of protection for the U.S. steel industry is approximately
Business
1 answer:
brilliants [131]3 years ago
3 0

Answer:

The effective rate of protection for the U.S. steel industry is approximately 17.5%

Explanation:

Mathematically, the effective rate of protection is calculated as follows;

e = (n-ab)/(1-a)

where n is the nominal tariff rate on the final product , a is the ratio of the value of the imported input to the value of the finished product and b is the nominal tariff rate on the imported input

Mathematically;

a = value of iron ore/value of steel = 100,00/500,000 = 1/5 = 0.2

From the question, we can see that nominal tariff rate for steel n = 15% = 15/100 = 0.15

The nominal rate for iron ore b = 5% = 5/100 = 0.05

So we substitute all of these into the equation of e above

e = {0.15-0.2(0.05)}/(1-0.2) = (0.15-0.01)/0.8 = 0.14/0.8 = 0.175 which is same as 17.5%

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The ending cash balance of Jan is $ 68145 which is more than $58,410 . We get this balance after the borrowings. The cash balance is $   18172 for February .

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<em>Monty Company </em>

<em>Cash Budget</em>

<em>                                            January         February</em>

Beginning Cash Balance        58410           35695

Add Receipts    

Collections from Customers 110330           194700

Sale of Marketable Securities 15576             0

Total Receipts                         125906          194700

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Excess                                       35,695        18172

Financing

Add Borrowings                       $32,450         0

Less Repayments                       0                  0

Ending Cash Balance              68145           18172

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Total cash disbursements are subtracted from the total available cash to find the excess amount from which the repayments are subtracted and borrowings are added to get the ending cash balance.

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