Page 1Page 2NameECONOMICS 452 QUIZ 9B “The Nuts and Bolts Come Apart” The Economist 03-26-2009, “Unpredictable Tides” The Economist 07-23-2009, “Trade Policy in 2008: Great Depression Redux?” In What World Leaders Must Do to Halt the Spread of Protectionism 2007, “Economic Vandalism” The Economist 09-17-2009 1. Despite pledging to eschew protectionism last November, seventeen of the G20leaders had taken at least how many trade restrictive actions by last March?2. How did America’s trading partners respond to the Smoot-Hawley Act of 1930?3. What are some of the sneakier ways countries engage in protection these days?4. Why is an all out tariff war less likely now than in the 1930s?Why might these defenses not be strong enough?5. What could explain why the American automotive industry has shifted fromlobbying for direct protection to asking for subsidies?What is the worry about such subsidies?6. Why do many think a quick conclusion to the Doha round is important?Why is an ounce of protection worth a pound of cure when it comes toprotectionism?7. Why are trade restrictions called “beggar-thy-neighbor” policies? Why do these policies often NOT benefit countries that adopt them?8. What protection has President Obama recently imposed on China?Why might this move NOT save many, if any, American jobs? Who will likely be harmed? What else bad may come of this
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