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Question 1
The exports and imports of country Z in year 1 are listed below. These are the only goods traded by country Z.
Good
Value of Exports
Value of Imports
A
$100.00
$120.00
B
$300.00
$80.00
C
$400.00
TOTAL
$800.00
$500.00
a) Calculate country Z's individual goods Grubel-Lloyd index of intra-industry trade for year 1.
b) Calculate country Z's Overall Grubel-Lloyd index of intra-industry trade for in year 1.
c) Comment on Country Z's Overall Grubel-Lloyd index.
Question 2
Assume that the nominal tariff rates on Fiji's ten critical imports and the total import value for each good are listed in the table below:
Goods
Nominal Tariff Rate
Total Import Value($M)
Fuel
10%
$600.00
Meat
5%
Car
Free
Television
30%
Milk
2%
$200.00
Tin Fish
2.5%
Mobile Phones
15%
Laptop
8%
Fridge
40%
Sewing Machine
4%
(a) Calculate the unweighted-average nominal tariff rate for Fiji. (4 marks) (b) Calculate the weighted-average nominal tariff rate for Fiji.
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