The United States has recently imposed tariffs on the importation of Canadian lumber; the tariffs range from 17.41-30.88 percent. Canadian exports to the U.S. make up about 30% of all softwood lumber used in U.S. residential housing construction. Using this information, do the following:

A. Assume the U.S. equilibrium price of lumber with no international trade is $380 per 110,000 feet of lumber and the world price of lumber is $360 per 110,000 feet of lumber. Explain the effects of the tariff on the supply and demand for lumber in the United States. In your answer, please explain what will happen to the equilibrium price and quantity of lumber sold in the United States because of the tariff. Illustrate your answer with a graph of the supply and demand for lumber.

B. Discuss who benefits and who pays the costs of the tariff. Is the tariff economically efficient? Please explain and illustrate your answer with a graph. (In your answer, remember to define “efficient”.)

On May 22, 2012, The Wall Street Journal reported the following (for May 21):

Prime interest rates:              United States 3.25 percent;

Switzerland 0.52 percent;

Japan 1.475 percent.

Spot rates:                             $1.0670 = 1 Swiss franc;

                                                79.31 Japanese yen = $1

3-month forward rates:        $1.0685 = 1 Swiss franc

79.24 Japanese yen = $1

1. In terms of the dollar, was the Swiss franc at a forward discount or a forward premium? By what percent? Looking at the prime rates of the United States and Switzerland, is your calculated percentage discount/premium reasonably consistent with covered interest parity? Why or why not?
2. In terms of the Japanese yen, was the U.S. dollar at a forward discount or a forward premium? By what percent? Looking at the prime rates of Japan and the United States, is your calculated percentage discount/premium reasonably consistent with covered interest parity? Why or why not?

I need a clear explanation on this question. Thanks so much!

Jean-Pierre is a Canadian citizen and travels to the U.S. as a member of a professional hockey team. his first visit was in 2015. his visits usually last between one and two weeks. If Jean-Pierre was present in the United States for 100 days in 2017, 270 days in 2016, and 36 days in 2015, what is his residence status for 2017? He does not satisfy the substantial presence test, because he was not present in the United States for 183 days in 2017.

A) He does not satisfy the substantial presence test, because he was not present in the United States for 183 days in 2015.

B) He met the substantial presences test in 2016 and his residency, unless abandoned or revoked, continues in 2017.

C) He satisfies the substantial presence test and is considered a U.S. citizen in 2017.

D) He does not satisfy the substantial presence test, because he was not present in the U.S. for 183 consecutive days between 2015 and 2017.

Question 1

Should international trade be left to private enterprise only, or should governments openly manage it to benefit poorer nations?

Question 2

Would you have argued on behalf of the United States or the EU? Explain.

Question 3

What are the pros and cons of each side's arguments?

You are a member of a World Trade Organization task force that is reviewing the nine-year banana conflict between the United States and the European Union (EU). The EU was giving preferential treatment to banana exporters from Africa, the Caribbean, and the Pacific island nations. But the United States challenged what it saw as unfair trading practices and the World Trade Organization agreed. The U.S. action gained support from global fruit companies Dole, Chiquita, and Del Monte, which account for nearly two-thirds of the fruit traded worldwide. The EU argued it was supporting struggling economies for which bananas make up a large portion of their income.

Citation References.

Each year, ratings are compiled concerning the performance of new cars during the firs 90 days of use. Suppose that the cars have been categorized according to whether the card needs warranty- related repair( yes or no) and the country in which the company manufacturing the car is based ( united states or not united states)Based on the data collected, the probability that the new car needs a warranty repair is 0.04, the probability that the car is manufactured by a US – based company is 0.60, and the probability that the new car needs a warranty repair and was manufactured by a US- based company is 0.025. Construct a contingency table or a Venn diagram to evaluate the probabilities of a warranty- related repair. What is the probability that a new car selected at random

a. Needs a warranty- related repair?

b. Needs a warranty repair and is manufactured by a company based in the united states?

c. Needs a warranty repair or was manufactured by a US- based company?

d. Needs a warranty repair or was no manufactured by US- based company?

Representatives of hotels, restaurants, hotel and restaurant supply companies, and other businesses located in Portland, Oregon, organized an association to attract conventions to their city. Members were asked to make contributions equal to 1 percent of their sales to finance the association. To aid collections, hotel members, including Hilton Hotels Corporation, agreed to give preferential treatment to suppliers who paid their assessments and to curtail purchases from those who did not. This agreement violated federal antitrust laws. The United States sued the members of the association, including Hilton Hotels, for the crime of violating federal antitrust laws. Can a corporation be held criminally liable for the acts of its representatives? If so, what criminal penalties can be assessed against the corporation? United States v. Hilton Hotels Corp., 467 F.2d 1000, Web 1972 U.S. App. Lexis 7414 (United States Court of Appeals for the Ninth Circuit)

AMP Corporation (calendar-year-end) has 2020 taxable income of $1,900,000 for purposes of computing the §179 expense. During 2020, AMP acquired the following assets:

1.What is the maximum amount of §179 expense AMP may deduct for 2020?

2.What is the maximum total depreciation, including §179 expense, that AMP may deduct in 2020 on the assets it placed in service in 2020, assuming no bonus depreciation?

Japenese Case Study #1

.

This case study is a composite of actual situations. Marianne, who is American, and Ken Shimizu, who is Japanese, have worked in Tokyo for over 30 years as Methodist missionaries. They have annual furloughs and occasional sabbaticals, during which they visit relatives and sponsoring organizations and engage in continuing education in the United States. They met as college students in the United States, and their three grown children have established their own careers in the United States.

Ken’s 98-year-old mother resides with Marianne and Ken. She is not Christian but has always been extremely supportive of Ken and Marianne’s work. Ken teaches at a large Christian university, whereas Marianne has served in various church-related positions over the years. As missionaries, they live in subsidized post–World War II housing near Ken’s university. Marianne has been a frugal housewife, preparing local foods in the Japanese style for her family.

Ken, who is nearly 60, recently learned that he has glaucoma. By the time it was discovered, he had lost a significant amount of peripheral vision. Although Marianne delivered all three children at a Christian hospital in Tokyo, she gets her annual physical examination when visiting relatives in the United States. She has never believed that the Japanese health system is as proactive as that in the United States. On her most recent visit to the United States, Marianne learned that she has hypertension. Her physician prescribed a medication that is readily available in Japan, but the physician was concerned about the level of stress in Marianne’s life. Mother Shimizu is quite confused and requires considerable care, but it is unthinkable for Ken, the only child, to put his mother in a long-term-care facility. Even if he would, the

quality of facilities in Japan leaves much to be desired. Most of the responsibility for Mother Shimizu falls on Marianne, in addition to her work. Marianne’s relatives are urging her to consider placing Mother Shimizu in a church-related life-care community near Marianne’s family in the United States, where Marianne and Ken would like to retire. Marianne’s own parents lived in this facility at the end of their lives. She is considering these issues as she returns to Tokyo.

1. Identify some of the cultural issues that may lead to conflict in this international family.

2. What are the family resources for this international family?

3. What factors within the Japanese health system may account for the late diagnosis of Ken’s glaucoma?

4. What practical issues might arise for the Shimizus if Mother Shimizu were placed in a long-term-care facility in the United States?

5. What dietary factors may contribute to Marianne’s hypertension?

6.In what ways might you consider Ken to be countercultural as a Japanese man? 7.What social pressures might Marianne have faced, given some of her choices, as a housewife in Japan? 8.What pressures will Ken likely experience as he considers how to meet the needs of both his mother and his wife? 9. Compare and contrast the fertility and mortality rates of Japan and the United States. 10.Do the traditional Japanese maintain sustained eye contact with strangers? Why or why not? 11.To which drugs might Japanese people have greater sensitivity than that of white ethnic populations? 12.How do most Japanese people meet their need for calcium?

Problem #2

A machine, which cost $400,000, is acquired on October 1, 2020. Its estimated salvage value is $30,000 and its expected life is 8 years.

Instructions

Calculate depreciation expense for 2020 and 2021 by each of the following methods, showing the figures used. SHOW ALL WORK!

(a) Double-declining balance

(b) Straight-Line