Exam 17: Economic Integration

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In a production-possibilities/indifference curve diagram depicting the movement of a Country from a situation of a uniform tariff against all trading partners to a situation of a Customs union with one trading partner,

(Multiple Choice)

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Question 21

In the diagram in Question #8 above, suppose that country A, from this initial situation Where its tariff is applied to both countries B and C, now forms a customs union with Country B. With this customs union in place, imports into country A are distance __________.

(Multiple Choice)

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Question 22

In a production-possibilities/indifference curve diagram, when a (small) country moves From a situation of a uniform ad valorem tariff on all trading partners to a situation of a Trade-diverting customs union with one of its trading partners, the ratio of the domestic Price of the country's export good to the domestic price of the country's import good __________.

(Multiple Choice)

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Question 23

As of January 1, 2007, the number of countries belonging to the European Union increased to a total of __________ countries.

(Multiple Choice)

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Question 24

In the diagram in Question #8 above, suppose that country A, from this initial situation where its tariff is applied to both countries B and C, now forms a customs union with Country C. With the formation of this customs union, the amount of imports of good X into country A would be represented by the distance __________.

(Multiple Choice)

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Question 25

How could the formation of an economic integration unit among several countries actually result in the countries trading to a greater extent in absolute terms with the outside world than before the union was formed? What factors would you consider in assessing whether this result would be likely to occur? Explain.

(Essay)

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Question 26

In the diagram in Question #8 above, when the tariffs are in place for both countries B And C, the tariff revenue being collected by country A's government consists of__________.

(Multiple Choice)

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Question 27

Conceptually, what would happen to relative factor prices in labor-abundant country A and capital-abundant country B if the two countries joined together into a customs union? Why? Conceptually, why could the additional step of moving from a customs union to a common market not result in any movement of labor and capital between the two countries? Explain.

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Question 28

Showing 21 - 28 of 28

In a production-possibilities/indifference curve diagram depicting the movement of a Country from a situation of a uniform tariff against all trading partners to a situation of a Customs union with one trading partner,

In the diagram in Question #8 above, suppose that country A, from this initial situation Where its tariff is applied to both countries B and C, now forms a customs union with Country B. With this customs union in place, imports into country A are distance __________.

As of January 1, 2007, the number of countries belonging to the European Union increased to a total of __________ countries.

In the diagram in Question #8 above, when the tariffs are in place for both countries B And C, the tariff revenue being collected by country A's government consists of__________.

Early Trade Theories: Mercantilism and the Transition to the Classical World of David Ricardo

The Classical World of David Ricardo and Comparative Advantage

Extensions and Tests of the Classical Model of Trade

Introduction to Neoclassical Trade Theory: Tools to Be Employed

Gains From Trade in Neoclassical Theory

Offer Curves and the Terms of Trade

The Basis for Trade: Factor Endowments and the Heckscher-Ohlin Model

Empirical Tests of the Factor Endowments Approach

Post Heckscher-Ohlin Theories of Trade and Intra-Industry Trade

Economic Growth and International Trade

International Factor Movements

The Instruments of Trade Policy

The Impact of Trade Policies

Arguments for Interventionist Trade Policies

Political Economy and Us Trade Policy

International Trade and the Developing Countries

The Balance-Of-Payments Accounts

The Foreign Exchange Market

International Financial Markets and Instruments: an Introduction

The Monetary and Portfolio Balance Approaches to External Balance

Price Adjustments and Balance-Of-Payments Disequilibrium

National Income and the Current Account

Economic Policy in the Open Economy Under Fixed Exchange Rates

Economic Policy in the Open Economy Under Flexible Exchange Rates

Prices and Output in the Open Economy: Aggregate Supply and Demand

Fixed or Flexible Exchange Rates

The International Monetary System: Past, Present, and Future

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