Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Business Studies Finance and Trade International Trade
A country imports a product at $100 per unit. The raw materials cost $40 per unit, which are entirely imported as well. If the country applies an import tariff of 20% on the final product and 10% on the raw materials, what is the Effective Rate of Protection (ERP)?
1
20%
2
30%
3
56%
4
26%