Question 35 The made-in CHINA toys with the character in the picture is tariff-free in EU. True or False? True False 0.4 pts Question 46 0.7 pts Let's assume you finance your house through Wells-Fargo Bank. Below, please find the Truth-in- Lending Disclosure (TILD). Calculate Finance Charge, i.e., the dollar amount the credit will cost you at the end of the term. Amount Financed Annual Percentage Rate Term $332,153 5.0% 30 Years Taxes and Insurance per month (Escrow account set up by Wells-Fargo.) $442 $309,751 $468,872 $473,950 $364,841 Question 47 0.8 pts Let's assume you borrowed $6000 from Wells Fargo Bank on July 1. The annual Percentage Rate is 4%. The term is 2 years. After you paid the first month's payment (i.e., August 1), you received the tax return of $500 from the IRS on the same day. You used the tax return for the loan payment on the same day. What would be an outstanding balance after you made the September payment? 5016.43 5352.95 5247.58 5518.10 Question 48 0.6 pts Let's assume you borrowed $2000 from Wells Fargo Bank on July 1. The annual Percentage Rate is 5%. The term is 2 years. After you paid the first month's payment (i.e., August 1), you received the tax return of $300 from the IRS on the same day. You used the tax return for the loan payment on the same day. The outstanding balance after the 13th, 14th, and 15th term payments is presented in the table below. What would be the outstanding balance after the 16th term payment? 13th 625.50 14th 540.36 15th 454.87 324.54 295.63 369.03 389.05 Question 49 0.7 pts What is the p-value for the following data set? Can we reject the null hypothesis at p < .05 level? You may use the p-value calculator available here 28.9 28.5 31.6 28.6 30 30.3 29.9 30.8 22.8 25.2 Average 28.66 Standard 2.700699 Deviation Comparing to 28 Ho: mean = .229727; not reject null hypothesis .033503; reject null hypothesis O.003423; reject null hypothesis O .382323; not reject null hypothesis Question 57 0.45 pts As discussed in class, is applied by Japan in the argument described below: "If the entire Californian crop had been exported to Japan, the value would be slightly more than $560 million*. Would either volume of rice exports obliterate (wipe out) the U.S. trade deficit or even significantly redress the Japan-U.S. trade imbalance, which has recently risen to more than $67 billion? Also, bear in mind that Japan faces a serious labor shortage, and the young farmers who abandon rice production might go to factories to manufacture more automobiles and high-tech products for export to American and other overseas markets, which would more likely expand the Japan-U.S. trade imbalance than diminish it." new trade theory O merchantilism product life cycle theory of comparative advantage Question 59 Based on information below (2 countries x 2 products), if US has comparative advantage in producing Rice, what can you say about X? (note: figures represent production or output.) Please assume that X is a positive number. Rice Car US 7 6 Korea 9 X X < 4 X < 7 X > 54/7 X < 63/7 0.5 pts Question 61 0.2 pts The current WTO accord allows Japan to exempt rice from tariff imposition. In return for this concession, Japan started the minimum access rice import in April 1995, with 4% of domestic rice consumption, gradually increasing to 8% (that is, Japan does not apply a tariff to foreign rice roughly up to 8% of rice consumption in Japan). The WTO accord requires additional and acceptable concessions in return (that is, Japan has to lower tariffs on other agricultural imports in order to apply an "exceptional" rule to Rice imports). Accordingly, access of American rice to the Japanese market is achieved as the result of competition with other exporting countries on appropriate varieties, quality, and prices for the Japanese market. Interestingly, Japan exported some of the rice it imported under a WTO agreement to foreign countries, including some South East Asian countries. The practice of "minimum access rice import" (as described above) and re-export of imported rice to foreign countries indicate behavior in Japan. protectionism free trade Question 35 The made-in CHINA toys with the character in the picture is tariff-free in EU. True or False? True False 0.4 pts Question 46 0.7 pts Let's assume you finance your house through Wells-Fargo Bank. Below, please find the Truth-in- Lending Disclosure (TILD). Calculate Finance Charge, i.e., the dollar amount the credit will cost you at the end of the term. Amount Financed Annual Percentage Rate Term $332,153 5.0% 30 Years Taxes and Insurance per month (Escrow account set up by Wells-Fargo.) $442 $309,751 $468,872 $473,950 $364,841 Question 47 0.8 pts Let's assume you borrowed $6000 from Wells Fargo Bank on July 1. The annual Percentage Rate is 4%. The term is 2 years. After you paid the first month's payment (i.e., August 1), you received the tax return of $500 from the IRS on the same day. You used the tax return for the loan payment on the same day. What would be an outstanding balance after you made the September payment? 5016.43 5352.95 5247.58 5518.10 Question 48 0.6 pts Let's assume you borrowed $2000 from Wells Fargo Bank on July 1. The annual Percentage Rate is 5%. The term is 2 years. After you paid the first month's payment (i.e., August 1), you received the tax return of $300 from the IRS on the same day. You used the tax return for the loan payment on the same day. The outstanding balance after the 13th, 14th, and 15th term payments is presented in the table below. What would be the outstanding balance after the 16th term payment? 13th 625.50 14th 540.36 15th 454.87 324.54 295.63 369.03 389.05 Question 49 0.7 pts What is the p-value for the following data set? Can we reject the null hypothesis at p < .05 level? You may use the p-value calculator available here 28.9 28.5 31.6 28.6 30 30.3 29.9 30.8 22.8 25.2 Average 28.66 Standard 2.700699 Deviation Comparing to 28 Ho: mean = .229727; not reject null hypothesis .033503; reject null hypothesis O.003423; reject null hypothesis O .382323; not reject null hypothesis Question 57 0.45 pts As discussed in class, is applied by Japan in the argument described below: "If the entire Californian crop had been exported to Japan, the value would be slightly more than $560 million*. Would either volume of rice exports obliterate (wipe out) the U.S. trade deficit or even significantly redress the Japan-U.S. trade imbalance, which has recently risen to more than $67 billion? Also, bear in mind that Japan faces a serious labor shortage, and the young farmers who abandon rice production might go to factories to manufacture more automobiles and high-tech products for export to American and other overseas markets, which would more likely expand the Japan-U.S. trade imbalance than diminish it." new trade theory O merchantilism product life cycle theory of comparative advantage Question 59 Based on information below (2 countries x 2 products), if US has comparative advantage in producing Rice, what can you say about X? (note: figures represent production or output.) Please assume that X is a positive number. Rice Car US 7 6 Korea 9 X X < 4 X < 7 X > 54/7 X < 63/7 0.5 pts Question 61 0.2 pts The current WTO accord allows Japan to exempt rice from tariff imposition. In return for this concession, Japan started the minimum access rice import in April 1995, with 4% of domestic rice consumption, gradually increasing to 8% (that is, Japan does not apply a tariff to foreign rice roughly up to 8% of rice consumption in Japan). The WTO accord requires additional and acceptable concessions in return (that is, Japan has to lower tariffs on other agricultural imports in order to apply an "exceptional" rule to Rice imports). Accordingly, access of American rice to the Japanese market is achieved as the result of competition with other exporting countries on appropriate varieties, quality, and prices for the Japanese market. Interestingly, Japan exported some of the rice it imported under a WTO agreement to foreign countries, including some South East Asian countries. The practice of "minimum access rice import" (as described above) and re-export of imported rice to foreign countries indicate behavior in Japan. protectionism free trade