1. Which below are broad lessons regarding the effects of tariffs?
a. Tariffs almost always lower the living standard of the nation imposing the tariff.
b. Whatever a tariff can do for the nation, a
1. Careful studies by economists indicate that trade restrictions
are an expensive way to try to save jobs.
cost consumers approximately $169,000 per job saved.
largely alter the mix of jobs in an economy.
all of the above.
Only a and c.
1. Which below is true regarding the data used by GDA MacDougall?
a. For each of the industries listed, U.S. absolute labor
productivity was twice the U.K. absolute labor productivity.
b. For each of the industries listed, U.K. absolute labor
SPRING 2013 ECN 306: Final Exam Dr. Mendez
Please dont forget to bubble in your name and id number in the appropriate place on the scantron.
1. Let T represent the deadweight loss to the nation of a tariff, Q the cost to the nation of a quota, a
CASE EXAMPLE A: Elaine has sued Jerry because Jerry fired her. Elaine was on the
job for two months. The job offer letter she had been given mentioned the great career
opportunities at the company and stated that her annual salary would be $30,000. The
1. As a result of the North American Free Trade Agreement (NAFTA), the United
States and Canada shifted toward free trade with Mexico. According to the StolperSamuelson theorem, how is this shift affecting the real wage of unskilled labor in
1. Let T represent the deadweight loss to the nation of a tariff, Q the
cost to the nation of a quota, and VER the cost to the nation of a
voluntary export restraint. Which below correctly shows how these
losses of national economic well-being are related
ONLINE Exercise #1
Economic Order Quantity Exercise
Buckshot Electronics is a chain of electronics superstores that is located throughout
California. They have 15 locations concentrated primarily in heavily populated areas.
They sell thousands of
Economic Order Quantity - PRACTICE EXERCISE
Below are some the key figures important in your analysis:
Retail Price (Price per unit)
Cost to place an order
Annual per unit Holding costs
CASE ANALYSES 1
1. Explain the benefits that CEMEX and the other global competitors in cement have derived
from globalization - how can cross-border activities add value in an industry as apparently
localized as cement?
CASE EXAMPLE B: XYZ Counseling Agency, a Limited Liability Company, hired
Chuck as an anger management counselor. Two months ago during a counseling
session with a client named Wilbur, Chuck became very angry at Wilbur's failure to
improve and beat up Wil
Chapter One of the text introduces you to the law, its functions, and types of law.
Law is a necessity of civilization and yet, like fire, it must be controlled if it is to be
beneficial. One basic distinguishing factor of law is that, unlike
1. In the United States, dumping occurs when exporters sell their product at a price
a. that is below its normal or fair market value.
b. that is below constructed cost (typically average cost).
c. that is lower in the U.S. market than the price charged t
ECN 306: Final Exam - VERSION A Dr. Mendez
Please bubble in your name and 10-digit ASUrite ID.
Drawn below is the Trilemma diagram. An example in todays international financial system of a
nation selecting point A is ; point B is ; and, poi
Skills Inventory (30 points)
For this deliverable, you will begin examining your existing skill set and practice
articulating or translating it in persuasive ways using the provided Excel spreadsheet.
To complete this exercise, you will use the Purdue Uni
The worlds largest online retailer is in the process of installing large cabinets
called Amazon Lockers in strip malls, drugstores, convenience markets and grocery
stores throughout the country. In the past year, Amazon Lockers have been pl
1. Which of the following is NOT correct?
a. Prior to WWI, large inflows of capital from Western Europe were
instrumental in building railroads and infrastructure in the areas of recent
b. Private capital basically ignored poor nations from th
1. When holding foreign currency denominated assets or liabilities or conducting
foreign currency denominated transactions, _ means committing oneself to
an uncertain future value of one's net worth in terms of home currency.
(millions of bushels
(millions of bushels
Rest of the World
(millions of liters per year)
(millions of liters per year)
The cultural distance between Muslim society and native-born Danes raised in this
serious crisis. Muslim people think the caricatures are blasphemous and offensive. We all
know Europe is a democracy society, they can say
Should guns be allowed on college campus?
Many gun-shot cases have been found on campus, which impels people to pay
much attention to the problem. On April 16 th, 2007, 33 students1 died in the gun-shot
accident in Virginia Tech, including the murderer wh
Shanghai is the largest city by population in China andtheeighthlargestcityintheworld.Shanghaihas
apopulationof23million,includingatransientpopulationof2million. It is a global city, with influ
Real Estate Photo Service
A real estate photography service is a terrific and inexpensive homebased
business to start and operate. Thousands of real estate agents and
homeowners simply do not have the time, equipment, or skills necessary to