International Economics (ECST3202)
DIPET 1 in Economics - ECNT
Semester: Second Semester
Level: 300
Year: 2016
UNIVERSITYOF BAMEN DA
HIGHER TECHNICAL TEACHERS TRAINING COLLEGE (HTTTC)
DEPARTMENT OF ECONOMICS SCIENCES
International Economics; 2015/16
Instructor: A. Peter Etoh Anzah (Senior Lecturer)
Attempt all questions in the order in which they appear. Time allowed is 1 1/2 hours. Only
calculators are authorised. Show justifications for all your answers
1) How can we define "factor endowment" or "factor abundance"?
2) The statement "the ordinary means therefore to increase our wealth and treasure is by foreign
trade, wherein we must ever observe this role: to sell more to strangers yearly than we. consume
of theirs in value" emphasises
3) What do you understand by a "Protective" tariff?
4) What is an intra-industry index (also interpret this index),
5) The table below demonstrates a country's total annual importation of some chosen essential
commodities and their respective tariff rates:
Product
volume
Tariff rate (%)
1
Yellow rice
300 000 8
2
shoes
200 000
20
3 cars 50 000
20
4 Roofing sheets 5 000
10
5 machines 45 000 15
Calculate the average tariff rates for this country
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