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Question 1:
a) Explain, with the use of examples, what is meant by the ‘Factor Endowment Theory'.
b) According to you, can the ‘Factor Endowment Theory' be a reasonable explanation of the pattern of world trade nowadays?
Question 2:
a) Identify and explain any 3 types of non-tariff barriers (NTBs).
b) According to you, are tariffs or NTBs more distortionary to trade?
Question 3:
a) Explain the principle of ‘Liberalisation' and ‘Non-discrimination' as laid down by GATT 1947.
b) According to you, are these principles beneficial for developing countries (including least developed countries)?
Question 4:
The Trade Related Aspects of Intellectual Property Rights (TRIPs) agreement has largely influenced global trade since 1995.
a) Explain what intellectual property rights are and why they are applied.
b) Discuss why NGOs have been protesting against the inclusion of TRIPs agreement into World Trade Organisation (WTO) rules.
Problem 1: (a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model? (b) Compare and contrast the functioning
How static multiplier can be shown diagramatcally
state the demand theory.
QUESTION No point is better accepted than the fact that the monopoly price is higher and the output smaller than what is socially ideal. The public is the victim. (a) Distin
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You can buy as many drinks as you want at $1 each. You can also buy as many chocolate bars as you want at $2 each. You have $5 to spend. You must buy whole bars and drinks, that is
QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
Mr. M enters into a contract with Mr. R under which R agrees to build a model railroad for $200. The value of the model railroad to M is $300. Expecting that the model railroad wil
Question 1: Poverty reduction is generally influenced by changes in average income and income redistribution. Thus, in practice it is hard to adjust to the right balance betwee
Discuss, using examples the economic consequences of a sudden monopolization of an industry that had been previously been competitive
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