FinalW2005 - Name_ Student Number_ ECON 3150 section M...

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Name_____________________________ Student Number_____________________________ ECON 3150 section M Final Exam April 22, 2005 You have 2 hours 30 minutes to complete the test. Please use pens only . (Marks for answers done in pencil are non-revisable.) No aide is allowed. Multiple Choice_________(50) 1_______________(10) 2_______________(10) 3_______________(10) 4_______________(10) 5_______________(10) 6_______________(10) Total_________________(100)
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2 Part I. Each multiple choice question is worth 5 points. Circle the best answer for each question: 1. If some industries exhibit internal increasing returns to scale in each country, we should not expect to see 1. intra-industry trade between countries. 2. perfect competition in these industries. 3. inter-industry trade between countries. 4. high levels of specialization in both countries. 2. The simultaneous export and import of widgets by the United States is an example of 1. increasing returns to scale. 2. imperfect competition. 3. intra-industry trade. 4. inter-industry trade. 3. If a good is imported into (large) country H from country F, then the imposition of a tariff in country H 1. raises the price of the good in both countries ("the "Law of One Price"). 2. raises the price in country H and cannot affect its price in country F. 3.
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FinalW2005 - Name_ Student Number_ ECON 3150 section M...

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