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Q. In recent cases, the U.S. placed quotas or protectionist tariffs on imported microchips and imported steel. In both cases the damage to "downstream" industries was obvious to all and relatively simple to quantify and demonstrate. Consider that the U.S. lawmakers are not plain dumb, why did they enact these protectionist policies?
Answer: The system through which these protectionist policies are set into law is biased in favour of the producers of import competitive goods. Other sectors of the economy that may possibly affect aren't parties in the petitions made to the ITC seeking redress.
Q. Neoclassical and Classical trade theory makes the case that free trade can bring a country to an optimum and economically efficient use of its resources; and therefore is an op
Explanation with critical appraisal
How to derive offer curve and its difference from reciprocal demand curve
Q . Consider that the relative capital abundance of Australia was so much greater than that of Sri-Lanka, that we would have to locate Australia far to the right on the K/L axis.
distinguish between net terms of trade and gross terms of trade
explained with example
Q. Define countertrade. Discuss the different forms of countertrade? Counter trade means all types of foreign trade in which the sale of goods to another country is associated
Q. Why is it that an industry is performing under conditions of domestic internal scale economies (applies to firm in the country) - then the resultant equilibrium can't be consis
een subject to a discrimination complaint as a result of their recent recruitment campaign- They told the recruitment agency that they were looking for ‘young women with flair'' to
defination, types
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