crystalhw2 - 1. The foreign exchange rate is specifying how...

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1. The foreign exchange rate is specifying how much one currency is worth in terms of the other. It is the value of a foreign nation’s currency in terms of the home nation’s currency. The exchange rate should be equal to the purchasing power. The purchasing power parity (PPP) is what the exchange rates should be (it determines its worth). The rate that equalizes the price of the identical product or service in two different currencies. 2. The two main reasons countries impose import restrictions is to protect their domestic economy and to raise money. Import restrictions often take the shape of tariffs, which are taxes on imports based primarily on the value of imported goods and services; quotas are restrictions on the number of foreign products that can be imported; nontariff barriers consist of a variety of measures such as testing, certification, or simply bureaucratic hurdles that have the effect of restricting imports. 3. The US Harmonized Tariff Code website ( www.usitc.gov ) shows an importer the harmonized Tariff Schedule for 2011. It import injury investigations, intellectual Property-Based Import investigations, Industry and economic Analysis, tariff and Trade information services and trade policy support. If I was importing artichokes this website explains to me the duty reduction. It explains that figures do not take into account the potential implementation of the FTA w/Peru. A bill was passed to extend the temporary suspension of duty on artichokes, prepared or preserved by vinegar or acetic acid to 12/31/2011. The USITC has instituted an examination on certain reduced ignition proclivity cigarette paper wrappers and products containing the same. The complaint alleges with of section 337 of the Tariff Act of 1930 in the importation into the US and sale reduced ignition proclivity cigarette wrappers and products containing same that break patents asserted by the accuser.
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4. Mercantilism is the theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion, establishing colonies and a merchant marine, and developing industry and mining to attain a favorable balance of trade. During the Age of Mercantilism shipping costs
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This note was uploaded on 07/12/2011 for the course BUS 101 taught by Professor Noname during the Spring '11 term at Albany State University.

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crystalhw2 - 1. The foreign exchange rate is specifying how...

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