Assume that the nominal rate of tariff on imports of final commodity is 30%. The nominal rate of traiff on the imported inputs is 10% and the ratio of imported inputs to the value of the final commodity is 50%. Then the effective rate of tariff will be

International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. Basicaly, International economics deals with issues arising from economic interaction among sovereign nations