How many U.S. dollars does a U.S. importer need to pay for 100,000 yen worth of stereo equipment when the price of 1 yen is $0.008?
a. $125 million
b. $1.25 million
c. $80,000
d. $1,250
e. $800
e
You might also like to view...
Refer to Table 15-1. What is the marginal revenue from the sale of the 12th unit?
A) $75 B) $50 C) $20 D) -$5
Explain the case for land reform in Latin America. Are there any potential negative effects? What steps could be taken to address these effects?
What will be an ideal response?
The European Union's Common Agricultural Policy (CAP) is, in effect
A) a tariff imposed on agricultural exports. B) a tariff imposed on agricultural imports. C) a subsidy that reduces the cost of agricultural exports. D) a subsidy that increases the cost of agricultural exports. E) a quota that limits production of agricultural goods by EU nations.
Which of the following statements about a tariff and a quota is true?
A) With a tariff the government collects revenues, but not with a quota. B) With a quota the quantity of imports falls, but not with a tariff. C) With a tariff the domestic price of the good increases, but not with a quota. D) With a quota the domestic production of the good increases, but not with a tariff. E) all of the above