Problem Set _3b - Econ 181 International Trade Spring 2009...

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Econ 181: International Trade Spring 2009 Problem Set #3b (Due Thursday, March 5, 2009) 1. Article Analysis—The Standard Trade Model: Read this article and answer the following questions. David Barboza, “China Says Its Economy Grew by 10.7% in 2006, With Little Inflation”. The New York Times , January 26, 2007. The URL is: http://www.nytimes.com/2007/01/26/business/worldbusiness/26yuan.html?_r=1&sq = a. The article states growth in the export sector has been one factor contributing to over all growth. How would we represent growth in the export sector and how is it predicted to affect the terms of trade? b. The article states China could face protectionist policies, say tariffs, from other countries. How are protectionist policies predicted to affect China's terms of trade? c. How are protectionist policies from other countries predicted to affect China's relative supply and relative demand? Hint: draw a relative supply-relative demand diagram to help you with the logic.
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