TAMU ECON 452 - E452exs1S12 (14 pages)

Previewing pages 1, 2, 3, 4, 5 of 14 page document View the full content.
View Full Document

E452exs1S12



Previewing pages 1, 2, 3, 4, 5 of actual document.

View the full content.
View Full Document
View Full Document

E452exs1S12

81 views

Problems/Exams


Pages:
14
School:
Texas A&M University
Course:
Econ 452 - Internat Trade Policy

Unformatted text preview:

FIRST EXAM Name Economics 452 International Trade Theory and Policy Spring 2012 WORLD TRADE 1 Of the major trading partners listed below the United States trades the least has the lowest volume of trade with a China b Canada c France d Mexico e Japan 2 Total value of US imports from and exports to Mexico trade volume has been around in 2008 2010 a 28 36 million b 280 360 million c 28 36 billion d 280 360 billion e 28 36 trillion 3 Compared to the United States as a whole Texas a Exports a larger share of its output b Depends on exports for fewer of its jobs c Sends less sophisticated products overseas d Employs higher skilled workers in export related jobs e Both a and d 4 U S exports in 2009 were compared to 2008 a 53 lower b 18 lower c Virtually the same d 21 higher e 52 higher 1 5 According to the gravity model countries trade more with larger economies because larger economies a Became large due to being engaged in international trade b Spend more on government promotion of trade and investment c Produce more goods and services so have more to export d Generate more income so able to afford more imports e Both c and d 6 That U S trade with Canada is many times larger than U S trade with a European country of similar size such as Spain is due to a Canada being closer to the United States than Europe is b Majority of Canadians living near the US border c Canadian US Free trade agreement promoting trade d Sharing a common language and heritage e All of the above 7 Services such as shipping insurance legal fees and spending by tourists currently account for about of the volume of world trade a 2 b 7 c 20 d 55 e 80 8 Over the last 60 years world exports as a share of would output has a Decreased steadily b Stayed roughly the same with little variation c Fluctuated widely with no clear trend d Increased substantially e Increased slightly then decreased substantially 2 RICARDIAN MODEL 9 12 Cheesecake and ice cream are produced with labor Under free trade the wage



View Full Document

Access the best Study Guides, Lecture Notes and Practice Exams

Loading Unlocking...
Login

Join to view E452exs1S12 and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view E452exs1S12 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?