1. You are given the following information:•The world price of computers is $10,000•The value of imported components is $1,000•Tariff on imported computers is 20%.(a) What is the nominal rate of...

1. You are given the following information:•The world price of computers is $10,000•The value of imported components is $1,000•Tariff on imported computers is 20%.(a) What is the nominal rate of protection? ($500)(b) What is the effective rate of protection? ($500)Now along with a tariff on imported computers of 20%, suppose that a 30% tariff is placed on the imported components used to make computers.(c) What is the new nominal rate of protection? ($500)(d) What is the new effective rate of protection? ($500)