Exam 2: Trade

Explain the key issues still remaining in the conclusion of the Doha Round.

Which of the following best describes first-mover advantage?

Which of the following is a pitfall for using infant industry arguments for government protectionism of free trade?

Which of these is not a political argument for government protectionism of free trade?

Which of the following was not a key achievement in the Uruguay Round of multilateral trade negotiations?

What is comparative advantage and why is it important in trade?

How was the form of subsidies received by Airbus different from that received by Boeing? Who do you think has more substantially subsidized the manufacturing of new airplanes and why?

An example of a supporting industry that would help a firm gain a competitive advantage in the auto industry is:

What was the ruling of the WTO regarding the trade dispute between Boeing and Airbus?

What are key remaining issues that the Doha Round needs to deal with to reach an agreement? Do you think that regional free trade agreements such as TPP will continue to increase in the future? If so, please explain your reasoning.

Which of the following is still an issue that remains between developing and developed nations in the Doha Round?

What are the expected impacts of providing President Obama with fast-track authority on the negotiation of the TPP?

What are the major trends in global trade? Are there any particular phenomena to which we need to pay close attention?

Why do think that the EU and the U.S. government have been supporting the production of commercial airplanes?

Which of the following best describes absolute advantage theory?

What is the likely impact of the failure of the trade facilitation deal on the agreement of the WTO's Doha Round negotiation?

How is comparative advantage theory different from absolute advantage theory? Why do some economists believe that comparative advantage theory may no longer hold in this global economy?

Why did India veto the final agreement on this deal?

What is the general perception about the dominance of "Made in China" products among the American people? Is there any myth about it?

Mercantilism is based on the premise that trade is a _________ sum game in which only those exporting countries benefit from it while importing countries do not gain anything.