ECON 340 Exam 2 Study Guide CH 6 - 3. This question asks you to analyze the effects of removal of a tariff on imported oranges. The following table summarizes the situations in the orange market with and without the tariff. The first column describes
ECON 340 Exam 1 Study Guide 10 18 13 17
Key Terms: International Independence International Economic Integration International Investment Economic Significance of Political Boundaries Theory of International Trade Extends microeconomic an
Chapter 12 Money Price Tells us how many units of money (dollars in the United States, yen in Japan, baht in Thailand, pesos in Mexico, or yuan in China) we must pay to buy apples, bananas, a car, or a personal computer. These money prices must refl
C What happens to total output if we use only L to make t-shirts and only K to make
T-shirt: UK, EllilL: +3ll=3llilT
Cups: 300K, llL: S+ll=3ll
We produce ill uniis more of cops and T-shirls each.
1] Illustrate your answer to part III with
cfw_B m m argues that deeper economic integration creates a W" for
governments. What does he mean by this term? What implications does this have for
governments who wish to pursue greater economic integration cfw_glohalization? Hint:
think ofthe recent Wv
1. Watch this video I, Smartphone
How does this clip illustrate Adan: Smiths concept of the invisible hand? [$1,Dtl
This clip describes that the Smartphone's components come from various countries.
Although the clip just shows which countries are the Smar
A What are the intereepts? Illustrate this en a graph cfw_place t-ehirte en the vertical Elie;
eup-s en the herieentll axis cfw_550
All 1: and L tn make T shirts: 1enT[3 li, 3dT[3Lf1]=4T
All ll and L tn make cups: seen: [3 new, inee[3eeL,r3=4-nee
1. Assume the price of bananas is $3 cfw_per pound and the price of apples is $5 cfw_per pound.
What is the relative price of bananas'iI What does this measure? cfw_515%
Relative price of bananas = 3,!5 = $ll.
it measures opportunityT cost [best alternati
E What weuld happen tn the PPF ifthe number of hours available ruse from 3D, tu
lith? Shaw this an a PPF. cfw_SEED
Candy: f units
Sada: ,l]f5=12,l] units
The preduetien ef the maximum unim w] increase for bath geeds.
3. The eeunemy has 3|
cfw_C What has happened to the export share of Latin America 3:. Africa? cfw_Will
Latin America 3: frica export share has fallen. Because the amount of African
exports to the European Union has decreased dramatically, and the United States
taking most of
cfw_B Politicians often speak about forcing multinational companies to hringjohs home.
HDW realistic would it he for a rm like Tommy Hilger to move production hack to
America? (hint: assume that Tommy Hilger is not prepared to sacrice prots. [$1,DDcfw_I
ii. In class, we looked at the geographic pattern of merchandise trade in 1965 and IBM].
Use these gures to answer the following questions:
cfw_A What has happened to Asia's export share?l Whyi' cfw_ETSH
Asia's export share has risen between 1965 and Zill
Part A- Copy of the original text file
In order to combat inflation in Brazil, a proposed subsidy to the producers would be a
very beneficial move for the government. The economic landscape in Brazil has deteriorated
significantly in the past several year
The Real traded at 3.85 BRL to 1 USD on 11/2/15. It averaged 1.89 from 1993 until 2015. It
reached all time high of 4.18 in 1/15 and an all time low of 0.01 in 1/93.
Annual inflation rate was lowered to 9.49% in 09/15, down from 9.53% in the previous mont
In order to combat inflation in Brazil, a proposed subsidy to the producers would be a very
beneficial move for the government. The economic landscape in Brazil has deteriorated
significantly in the past several years, so
In order to combat inflation in Brazil, a proposed subsidy to the producers would be a very beneficial move for the government. The economic landscape in Brazil has deteriorated significantly in the past several years, so an intervention is necessary. A
A In year graph. include a PPF, budget line and indifferenee eunre. Make sure ta lahel
eaeh curve and dran-r than earreetly _ -_ _: - . .- . . .
arm I Budget
B What does the slepe at the PPF represent? cfw
The advancement in health information technology has worked greatly by potential savings, potential to
improve the quality .this work smartly as it utilizing integrated databases of a client whose is undergoing
treatment across large populations will give
ECON 340 International Economics & Policies 5/19/08 Chapter 2: Comparative Advantage 1: Labor Productivity and Trade Why study international Trade? Everything we wear and do involves products from other countries. What should countries ask? Why shoul
I. Ricardian Model 1. Questions A) Why trade? B) What should we trade? C) Who should we trade with? D) What are the terms of trade? 2. Assumptions: A) SINGLE Input - Labor 3. Model Graphical Method A) Tools: i) PPF (possible combinations of goods we
ECON 340 Class Notes Chapters 12-15 CHAPTER 12 Foreign Exchange Markets: Define Demand and Supply -Demand Curve Quantity demanded of foreign currency as function of exchange rate -Supply Curve Quantity supplied as a function of exchange rate What d
Econ 340 First Exam
There are four questions. You can receive between 90 and 92 points if you answer three
questions and a maximum of 122 points if you answer all four.
1. Suppose that country A and country B have the option of specializing in the product
[Last Name] 1
a) Each firms supply in the competitive industry is such that p=MC is true because of the
relationship that exist between the demand curve of the firm and marginal revenue
Problem 4-24 Cash budget [LO2]
Lansing Auto Parts, Inc., has projected sales of $25,000 in October, $35,000 in November, and $30,000
in December. Of the companys sales, 20 percent are paid for by cash and 80 percent are sold on credit.
The credit sales ar