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Q. Describe the effects of the Smoot-Hawley tariff imposed by the United States in 1930.
Answer: It had a damaging consequence on employment abroad. The foreign response occupied retaliatory trade preferential and restrictions trading arrangements among a group of countries. This is an illustration of a "beggar-thy-neighbor" policy meaning a policy that benefits the home country only because it worsens economic conditions abroad.
the year of alternative / new trade theoriess
The Arguments for Flexible Exchange Rates
Q. What can you learn from the figure below, which depicts the US GNP and its components for the year 1997? Answer: The U.S. GNP is about 8 trillion expenditure represents
Q. If trade were to open up between R and P, where could the world terms of trade locate in the figure above (somewhere on the PC/PF axis)? Could relative wages (w/r) in the two c
Q. Explain why it may make sense for the United States, Japan, and Europe to allow their mutual exchange rate to float? Answer: Even though these regions trade amid each other
What does the factor proportions theory posits
what does the law of reciprocal states about and how does it differ from the theories of smith and ricardo
Q. What are the reasons for the world as a whole running a substantial current account deficit? Answer: This deficit improved sharply in the early 1980s and has remained high.
"1. Describe the important benefits enjoyed by Indian companies through TRIPs. Elaborate the main objectives of WTO in global economy. 2. "Leontiff paradox is proved in the Indian
Q. In the year 2000, Americans flocked to Paris. What economic forces made French goods seem so cheap to residents of the United States? Answer: One main factor was a sharp f
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