10,000 Bushels of Corn Currently Sells in the U

question 44

Multiple Choice

10,000 bushels of corn currently sells in the U. S. for $57,300. The current exchange rate is 68.13 rupees to the dollar. If purchasing power parity prevails, what is the price of 10,000 bushels of corn in rupees?

• A) 3,903,849 rupees
• B) 8,410,392 rupees
• C) 68,130 rupees
• D) 1,467,782 rupees

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Definitions:

Tax Levied

Refers to the imposition of taxes by a governing authority on individuals, corporations, or properties to generate revenue for public expenditures.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time frame.

Tariff

Tariff is a tax imposed by a government on goods and services imported from other countries to protect domestic industries or generate revenue.

Foreign-Produced Automobiles

Vehicles that are manufactured outside of a country's boundaries and then imported for sale within that country.