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1.Which of the following situations will arise in the domestic market following the removal of an import quota? a. imports increase, domestic production increases, prices increaseb. imports increase, domestic production decreases, prices decreasec. imports decrease, domestic production increases, prices decreased. imports decrease, domestic production decreases, prices increase
2.The WTO and GATT promote trade bya. reducing tariffs.b. eliminating quotas.c. reducing agricultural subsidies.d. All of these.
3.Which of the following statements is true? a. Free trade will benefit all workers in a nation equally.b. As a result of specialization some workers will be displaced and so harmed in the short run by free trade.c. Free trade leads to lower wages for all workers in both nations.d. Specialization will result in a decline in an industry and none of those workers will be able to find other jobs.
4.Today, the average U.S. tariff is 4.6 percent of the value of imported goods, which is very low by historical standards. TrueFalse
Discuss the two main challenges of the international trading system and how have these concerns been negotiated among trading partners?
Describe Chang's distinction between the `historical induction' approach versus the `deduction' approach to economic science. Which does he prefer and why?
Based on government report, the U.S. can manufacture 3-computers or 3,000 cases of win with one unit of resources, while Germany can manufacture one computer or 5,000 cases of whine with one unit of resources.
Assume that the you test Linder hypothesis through comparing Germany's absolute difference in per capita income from each of its trading partners with size of Germany's total trade with each respective partner.
Assume you hear a commentator on radio state that when interest rates fall, the stock market (the Dow Jones average say) tends to rise.
Select a United State multinational corporation. In terms of currency denomination, how the firm prices its revenues and costs.
Suppose that in Canada opportunity cost of manufacturing 2 television sets is 3 bushels of wheat. Suppose that in the United States the opportunity cost of manufacturing 2 bushels of wheat is 3 television sets.
International managements whether the UN, NATO, World Bank, WTO, IMF and others are no more than playgrounds of major powers who use these multilateral institutions to advance their interests often at expense of less powerful nations.
Before one year Polish zloty was PLN 3.8000/USD. Since then the sloty has fallen 14 percent against the dollar. Price levels in the US have not changed, but Polish price has gone up 7 percent
In the value process, the estimation of the has historically been somewhat neglected in relation to the other steps in the process.
Ms. Smith longs 1 XYZ Feb. 40 Call @ 3 and hold it it to expiration. Suppose no transaction costs, Examine this investment in terms of possible profit or loss. Make a payoff diagram.
In one day, Canada can manufacture either 200 tonnes of wheat or ninety tonnes of copper ingots. In one day, Chile can manufacture either 120 tonnes of wheat or 175 tonnes of copper ingots.
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