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Why did some economists regard traditional trade theory as irrelevant for developing nations and the development process? How can this charge be answered?
Explain why the 1988 U.S.-Canada Free Trade Agreement created much less controversy in the United States than NAFTA, which included Mexico.
Draw a figure showing what happens if country A forms a customs union with country B only, but the tariff-inclusive prices in country C are less than the free.
What are the factors that determine whether a trade diverting customs union leads to a net increase or decrease in the welfare of a member nation?
Draw a figure illustrating the effects of a trade-diverting customs union that reduces the welfare of a nation joining it.
Why will Nation A produce commodity X domestically or import it from Nation B or Nation C?
What is required for economic restructuring and integrating the countries of Eastern Europe and the former Soviet Union into the world economy?
What is Mercosur? Why have attempts at economic integration among developing nations generally met with limited success or failure?
What is the magnitude of the static and dynamic benefits to members resulting from the formation of the EU?
What was the effect of the formation of the EU on trade in industrial and agricultural products with the rest of the world?
What price should the monopolist charge in the domestic market (P1) and in the foreign market (P2)? How much he should sell on the international market.
What are the major accomplishments of the Kennedy Round? of the Tokyo Round? What do the Trade Acts of 1984 and 1988 provide?
What is meant by dumping? What are the different types of dumping? Why is dumping undertaken? What conditions are required to make dumping possible?
What are international cartels? How do their operations restrict trade? Which was the most successful international cartel during the 1970s?
If the world price is 13 cents per pound, what areas of the world supply sugar to the world market and the United States?
What is meant by resource-oriented industries? market-oriented industries? Foot loose industries? What determines the classification of the industry?
How do transportation costs affect the H-O theorem? How do they affect the factor-price equalization theorem?
How can international trade take place according to the technological gap model? What criticisms are leveled against this model?
What do we mean by monopolistic competition? Why do we use this model to examine intra-industry trade?
How can intra-industry trade be measured? What are the shortcomings of such a measure?
What is meant by product differentiation? Why does this result in imperfect competition? How can international trade be based on product differentiation?
What is meant by economies of scale? How can they be the basis for international trade? What is meant by the new international economies of scale?
In a 4-6 page (12-point font, double-spaced) essay, summarize and critically evaluate the main positions provided on this in Carbaugh's Chapter 10.
What must the CFO expect about the Australian Dollar/US$ exchange rate 1 year from now if she chooses to invest in the US $ CD's instead of the Australian CD's?
In terms of currency denomination, describe how the firm prices its revenues and costs. What means do they use to hedge against exchange rate risk?