midterm3 - NAME TA Midterm Exam Economics 181 PLEASE SHOW...

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1 N A M E T A Midterm Exam Economics 181 PLEASE SHOW YOUR WORK! PUT YOUR NAME AND TA&s NAME ON ALL PAGES 100 Points Total PART I. Short-Answer. (40 points). Please explain your work whenever possible. Each of the following 8 questions is worth 5 points each. 1. True or False? George Soros recently pointed out in the San Francisco Chronicle that although international trade leads to overall gains for the whole population, there are some individuals who lose from international trade. An excellent illustration of this idea is represented by the Ricardian model. 2. True or false? Evidence suggests that in the United States an increase in the supply of skilled labor relative to unskilled labor has contributed to an increase in inequality. Other factors, such as such as globalization and skill-biased technical change, have also contributed to rising inequality. 3. True or false? Larry Summers once proposed that developing countries should dispose of pollution because they have a comparative advantage in this area. 4. You are given the following unit labor requirements: TVs Whiskey Britain 40 1 Japan 20 Are there gains from trade? Show your work.
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2 N A M E T A 5. True or false?
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This note was uploaded on 09/24/2008 for the course ECON c181 taught by Professor Harrison during the Fall '06 term at University of California, Berkeley.

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midterm3 - NAME TA Midterm Exam Economics 181 PLEASE SHOW...

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