Part I. Trade Barriers Identify the following as either a quota (Q), tariff (T), standard (S), embargo (E) or subsidy (S). 1. The United States pays sugar farmers $1 per lb of sugar produced. 2. The United States does not trade with Cuba. 3. Beef imported from England must meet FDA regulations. 4. Cars imported from Europe have $2000 in taxes added to their price. 5. The US allows Japan to export 5000 cars per month to the US. 6. Brazil limits imported shoes to 10 million pairs per year. 7. China does not import poultry from the US b/c they are fearful of avian flu. 8. The US pays corn farmers per bushel. 9. When the US was displeased with Iraq leadership, the first measure was boycott. 10. When the US taxed imported Chinese steel, the Chinese taxed US agricultural products. Part II. Exchange Rates. (Rates in currency units per U.S. dollar except as noted) COUNTRY CURRENCY Nov. 22 Nov. 23 Nov. 24 Nov. 25 Nov. 26 .AUSTRALIA DOLLAR 0.7235 0.7222 0.7197 ND 0.7124 BRAZIL REAL 5.5860 5.648 5 5937 NO 5.5903 CANADA DOLLAR 1.2684 1.2712 1 2657 NO 1.2756 CHINA, PR. YUAN 3 3842 6.3910 6.3917 ND 6.3924 DENMARK KRONE B 6040 6 6016 6.6414 ND 6 5787 "EMU MEMBERS EURO 1. 1260 1 1265 1.1196 ND 1.1302 HONG KONG DOLLAR 7 7884 7 7934 7.7982 ND 7.7992 INDIA RUPEE 74 3700 74 4900 74 570 ND 74 8900 JAPAN YEN 114 6900 114.9800 115,3400 ND 113.4600 MALAYSIA RINGGIT .1840 4.1920 4.2103 ND 4 236 MEXICO PESO 20.9720 21.2390 21.3970 ND 21 8530 How much is one of their currency worth in terms of US Dollars? (use Nov. 26) 1. Australia 2. Japan 3. Malaysia 4. Denmark Did the following currencies appreciate or depreciate vs. the US dollar over the week? 5. Chinese Yuan 6. Hong Kong Dollar 7. Indian Rupee 8. Mexican Peso 9. Suppose you travel to Brazil and exchange $100 for their reals. How many will you get? 10. In which country is one of their currency, worth the least (compared to the dollar)? Suppose you purchased each item below. Find the price in U.S. dollars. 11. A meal in India for 7489 rupees 12. A painting in France for 11,302 Euros 13. A belt in China for 63.92 yuan 14. A t-shirt in Canada for 12.75 dollars