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ECONOMICS-2015: Daily Answer Writing Challenge – 10

ECONOMICS-2015: Daily Answer Writing Challenge – 10

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International Economics:

1) Analyse the partial equilibrium effects of a tarrif imposed by a large country on its imports in terms of consumers’ surplus (2014 – 10 marks)

 

2) “With the Doha Round of multilateral trade talks stalled, regional trade agreements (RTAs) have emerged as an alternative approach to increase trade, spur stronger economic growth and lower unemployment rates in the participating countries.” Explain (2014 – 20 marks)

 

3) Explain the conditions under which complete specialisation will be possible for two nations in case of comparative advantage.