ediy - Questions and Answers Part 1 1 Which of the...

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เว ว็บท ที่ท ททำยทำกๆ Questions and Answers Part 1 1. Which of the following country will probably have a LOW degree of openness? C. A rich country with high degree of productivity in different industries. 2. Poor countries tend to have high openness. A. True 3. The exchange ratio (nominal) between the Colombian Peso and the US dollar (measured as Peso/ $) in a certain year doubles its value; the average income of the Colombian inhabitants however does not show particular modifications, and so do their consumption possibilities. Given that Colombia import from US a negligible percentage of its total import, what is the effect on the Colombian GDP calculated in US dollar with the purchase power parity method? C. It remains constant. 4. The so-called total resources available in the country are formalized (referring to the classical GDP Equation) as: B. GDP + IMP 5. An increase in investments by the firms of a country can be, in the short term, the cause of a trade surplus. B. False 6. Put this transaction in the right part of the balance of payment: A. Aid received from foreign country due to natural disaster. B. Income from foreign investments in production activities. C. Trade Balance. D. Outward FDI. B. Current account: B, C; Financial and capital: A, D. 7. Which of these goods must NOT be included in the computation of the Gross National Product of Ireland C. Beer company that employs only Ireland citizens and sells only in Ireland but is owned by an US firm. 8. If in a given country citizens do not own foreign firm, GNP and GDP coincide. B. False 9. Developing countries tend to have a GNP ______ the GDP, respect to the developed ones. C. Lower than
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Questions and Answers Part 2 1. If in a 2 products-2 country word, a country has an absolute disadvantage vis-a-vis the another country, opening to trade will decrease its average productivity. A. True 2. Two countries, the Kingdom of Lesotho (L), and the Union of Comoros (C), work in a perfect "Ricardian model", producing two goods: Oil (O), and Bread (B). Knowing that: . the two countries are open to trade. . there is no mark-up between the TC and the price of the goods. . The production possibility frontier of Lesotho is (express in unit of bread and unit of oil): B = -0.5*O + 1000 . Lesotho has a workforce equal to 200 workers. . The production possibility frontier of Comoros is: B = -2*O + 750 . Comoros has a workforce equal to 300 workers. . The international price of oil is equal to 1$ per unit of bread. What is the level of wage in the two countries? C. Lesotho: 10$/unit produced, Comoros cannot be determined 3. Which of these factor does NOT depend on the indifference curve of the demand, in the Ricardian model? D. The sector in which the country shall specialize 4. Two coutnries, Comm (C), and Unity (U), work in a Ricardian model, and have recorded these data: ac au [worker-hour for prduce one unit] (A) Antennas 10 15 (C) Cars 23 20 (M) Microchips 0.5 1 (X) Xylophone 1 0.6 (Y) Yatch 240 120 and the level of wage is 26$/worker-hour for C, and 22$/worker-hour in U. In which sector C has a comparative
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