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Question 1:
‘The WTO was set up with the intention of regulating international trade between countries'. How successful has the WTO been in attaining its objectives?
Question 2:
‘Over the past three decades, regional trade agreements (RTAs) have proliferated to the point where virtually all members of the WTO belong to some form of RTA notified to the GATT, whether a customs union, a free trade agreement, or an interim agreement leading to one or the other. This development has redefined the world trade scene and represents both a challenge and a unique opportunity for the WTO:
a challenge because RTAs can result in trade and investment diversion, leading to high welfare costs for non-participants as well as for participants; an opportunity because they may create or consolidate regional dynamic forces in favour of freer trade, which can engender significant welfare benefits for participants as well as for the rest of the world'. Discuss.
AsEvaluate the implications of implementing this ideal product mix in Transnet Freight Rail.
why does the quantity of salt demanded tend to be unresponsive to changes in its price?
Sampling and tests of significance are very important tools in business economics. In fact one cannot do any meaningful marketing research without the requisite knowledge of sampli
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
QUESTION (a) Explain and evaluate the rational expectations theory. (b) What is the major argument of the supply side economists in relation to taxation policy? How is it di
Consider Fig 13-11. 1000 tons/day of moist MSW are processed to yield 700 tpd of RDF product. Raw MSW heat value is 5,000 btu/lb. RDF is 8,000 btu/lb. How did processing increase
theory of profit maximisation
Markets are often classified in terms of the nature of competition and collaboration they facilitate. In economic analysis, if the elements of competitions are “pure” then the mark
two political party called hawks show apoint ppf that the hawks might choose and a point the doves might choose
Suppose an oligopoly consists of three identical firms. Industry demand is P = 100 - 2Q and MC = AC = 20. What is the Cournot–Nash equilibrium output in this industry
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