# There are seven main instruments used in trade policy with _____ being the oldest and the simplest. local content requirements tariffs subsidies voluntary export restraints import quotas

There are seven main instruments used in trade policy with tariffs being the oldest and the simplest. local content requirements tariffs subsidies voluntary export restraints import quotas.

Explanation:

Trade policy incorporates seven principal tools: tariffs, subsidies, import quotas, voluntary restrictions on exports, local content needs, administrative policies and anti-dumping duties. Tariffs are the easiest and earliest type of the tools of trade policy.

They have historically been utilized as a reservoir of government revenue but are primarily employed nowadays to shield particular home industries from foreign competition by artificially hiking the local cost of the foreign good.These are also the mechanism most effective in restricting by the GATT and WTO.

## Related Questions

Activity Cost Pool Total Cost Total Activity Activity Rate Machine setups \$ 20,000 200 setups \$ 100 per setup Special processing \$ 150,000 10,000 MHs \$ 15 per machine-hour General factory \$ 200,000 20,000 direct labour-hours \$ 10 per direct labour-hour Total overhead costs \$ 370,000 What is the total overhead cost assigned to Product A, if Product A used 100 setups, no special processing and 10,000 direct labor-hours? \$10,000 \$1,000 \$110,000 \$100,000

so correct option is c.  \$110,000

Explanation:

given data

used = 100 setups

direct labor-hours = 1000

to find out

What is the total overhead cost assigned to Product A

solution

we get total overhead cost that is express as

total overhead cost = [ \$100 per machine setup × 100 setups ] + [ \$15 per machine-hours × 0 special processing ] + [ 10 per direct labor-hour × 10,000 direct labor-hours ]

so

total overhead cost = \$10,000 + \$0 + \$100,000

so correct option is c.  \$110,000

If there is a market with the below noted market segmentation, what would the four firm market concentration ratio be?Distribution of sales: 30%, 3%,10%, 5%,15%, 2%, 35%

a. 10
b. 90
c. 50
d. 40

90 (b.)

Explanation:

A concentration ratio is the ratio of the combined market shares percentage held by the largest specified number of firms, compared to the given market size. The concentration ratio ranges from 0% to 100%. If the concentration ratio of an industry ranges from 0% to 50%, that industry is said to be perfectly competitive if the top 5 firms have a concentration ratio of 60% or more, oligopoly is said to occur, and if the competition ratio of one company is 100% it shows monopoly.

In our example, the concentration of the largest four market segments are:

35%, 30%, 15% and 10%

Therefore, the four firm market concentration ratio = 35 + 30 + 15 + 10 = 90

b. 90

Explanation:

The concentration ratio is a term in business that is measured as the total summation of the market share percentage carried by the largest specified number of companies in an industry. The concentration ratio varies between 0% to 100%, and an industry's concentration ratio is considered to demonstrates the extent of competition in the industry.

However, the four-firm concentration ratio is calculated by summing the market shares—that is, the percentage of total sales—of the four largest companies in the given market.

Hence, in this case, we have 35%, 30%, 15% and 10% as the top four largest market share. There by, summation equals => 35+30+15+10 = 90.

Swifty Company purchased equipment for \$256,800 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of \$12,000. Estimated production is 48,000 units and estimated working hours are 20,400. During 2020, Swifty uses the equipment for 600 hours and the equipment produces 1,000 units. Required:
Compute depreciation expense under each of the following methods. Swifty is on a calendar-year basis ending December 31.

a. Straight-line method for 2020 \$enter a dollar amount.
b. Activity method (units of output) for 2020 \$enter a dollar amount.
c. Activity method (working hours) for 2020 \$enter a dollar amount.
d. Sum-of-the-years'-digits method for 2022 \$enter a dollar amount (e) Double-declining-balance method for 2021

a.  Straight line method.

Depreciation per annum = (\$ 256,800 - \$12,000 ) / 8 = \$ 30,600.

Depreciation for 2020 = \$ 30,600 * ( 3 /12 ) = \$ 7,650.

b. Units of output

Depreciation per unit = ( \$ 256,800 - \$ 12,000 ) / 48,000 = \$ 5.1

Depreciation for 2020 = 1,000 * \$ 5.1 = \$ 5,100.

c. Working hours.

Depreciation per hours = ( \$ 256,800 - \$ 12,000 ) / 20,400 = \$ 12

Depreciation for 2020 = 600 * \$ 12 = \$ 7,200.

D. Sum of digits method

Sum of years = 8 ( 8 +1 ) / 2 = 36.

Year - 1 used ( 3 / 12 = 0.25)

Year-2 used ( 12 / 12 = 1 )

Remaining ( 8 - 1 - 0.25 = 6.75)

Depreciation for 2022 = (\$ 256,800 - \$ 12,000 ) * ( 6.75 / 36 )

Depreciation for 2022 = \$ 45,900.

e. Double declining balance

Depreciation rate = 200 / 8 = 25 %.

Depreciation for 2020 = \$256,800 * 25 % * (3 /12)

Depreciation for 2020 = \$16,050.

Depreciation for 2021 = ( \$256,800 - \$ 16,050) * 25%

Depreciation for 2021 = \$60,188.

Retirement planning should begin at what age?

60

Explanation:

Tina is an expert gardener. she provides services like setting up new gardens, maintaining gardens, and landscaping. in the context of service processes, the services provided by tina come under the category of

Based on the given description, Tina’s services fall into the category of possession processing services.

Possession processing service is defined as providing a service to goods or other physical possessions that the customer owns.

Thus, because Tina provides a service to people’s garden, her service falls into this category. Other examples for possession processing service include shoe cleaning service, plumbing, and housekeeping.

Winnwbagel corp. currently sells 25,200 motor homes per year at 37,800 each, and 10,080 luxury motor coaches per year at \$71,400 each. The company wants to introduce a new portable camper to fill out its product line., it hopes to sell 15,960 of these campers per year at \$10,080 each. An independent consultant has determined that if the company introduces the new campers, it should boost the sales of its existing motor homes by 3,780 units per year, and reduce the sales of its motor coaches by 756 units per year. What is the amount to use as the annual sales figure when evaluating this project? a. \$237,293,280.
b. \$262,271,520.
c. \$357,739,200.
d. \$95739200.
e. \$160,876,800.
f. \$249,782,400.

Option C is correct

Annual sales figure =\$ 357,739,200

Explanation:

Annual sales figure for Winnebago corp after the introduction f the new portable campers would be the sum of the annual sales figure for motor homes, luxury homes (after the introduction of new product) and the camper.

Note that the only the impact of the introduction of the new product would be considered on sales  would . The existing sales figures are not not relevant because they are not incremental.

Also,any reduction in sales figure as result of the introduction of a new product would be deducted.

These explanations are incorporated into the analysis below:

Product type         Quantity    Price           Sales figure (\$'000)

Motor homes        3780               37,800        142,884

Luxury homes          756            71,400          (53,978.4)

Camper                   15,969       (10,080 )        160,967.52

Total sales                                                       357,739.20

Annual sales figure =\$ 357,739,200