samplemidterm - Advanced International Economics ECON 758...

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Advanced International Economics Prof. Yamin Ahmad ECON 758 Sample Midterm Exam Name___________________________________ Id # _______________________ Instructions: There are two parts to this midterm. Part A consists of multiple choice questions. Please mark the answers to the multiple choice questions on the exam paper Part A has 25 questions and is worth 60%. Part B is worth 40% and consists of short answer questions. Part A: MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) If the relative price of S in terms of T is 2 and S has a nominal price of $1, then the relative price of T is A) $2. B) 1/2 S. C) 50 cents. D) Need more information to answer. 1) 2) If a country has a straight (downward sloping) production possibilities frontier, then production is said to be subject to 2) 3) A country gains from international trade if its post - trade ________ point lies outside its production possibility frontier. 3) 4) An indifference curve 4) 1
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Answer the question(s) below based on the following diagram.
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