3.1 point(s) In a country, after full liberalism, all products are subject to customs dutiesHowdoes the measure affect market participants in that country?

(no answer)

Both producers and consumers are doing well

Both producers and consumers are doing badly

None of the answers are correct

Producers are doing well and consumers are doing badly 1.1 point(s) Extreme case (s) for foreign trade policy:

(no answer)

Protectionism

All answers are correct

Free trade policy

Mercantilism 2.5 point(s) What is the essence of Free Trade Areas? Explain it! 4.1 point(s) Which of the principles of international trade is as follows: 'All advantages and facilities granted by a Contracting Party to products originating in or intended for another Contracting Party shall be granted immediately and unconditionally to allalsofor a product intended for

(no answer)

"An eye for an eye, a tooth for a tooth" principle

Principle of reciprocity

None of the answers are correct

Mutual assistance 5.1 point(s) Most important argument (s) infavorof free trade policy (There are more good answers!): Possibility to achieve the optimal plant size Protection against unfair competition Improving balance of payments positions Better quality for consumers 6.1 point(s) Migration can have a positive economic impact on the host country:

(no answer)

Remittances improve the balance of payments

Morefavorableage structure

None of the answers are correct

There may be shortages in some professions 7.1 point(s) Argument (s) infavorof protectionism:

(no answer)

Protecting adult / declining industries

Protection of domestic producers

Protection of national identity

None of the answers are correct 8.1 point(s) One of the basic principles of international trade:

(no answer)

None of the answers are correct

Principle of reciprocity

Mutual assistance

"An eye for an eye, a tooth for a tooth" principle 9.5 point(s) What is the essence of mercantilism as a theory affecting the world economy? List and explain! 10.1 point(s) The main goals of the WTO are:

(no answer)

Financial stability

Breakdown of trade barriers

Healthcare development

Promoting sustainable development 11.1 point(s) The so-called a true finding of a vertical working capital flow:

(no answer)

It has a creative nature in foreign trade

It has no effect on foreign trade

It has a reducing effect on foreign trade

None of the answers are correct 12.1 point(s) General characteristics of non-credit international capital flows:

(no answer)

There is an obligation to repay

Almost without exception, it is also subject to interest payments

All answers are correct

Typical type of portfolio investment 13.1 point(s) Finding (s) most true for convertibility:

(no answer)

It means the convertibility of a domestic currency into the currency of other countries

It can be used as a foreign exchange policy tool to regulate the demand and supply of a currency

If the domestic currency is made available for sale abroad due to foreign exchange policy pressures.

None of the answers are correct 14.5 point(s) What is the purpose of GATT / WTO activities? List and explain! 15.1 point(s) The most typical migration sending countries are:

(no answer)

South Africa

Canada

Sudan

Uruguay 16.1 point(s) The most typical statement (s) for a classical school:

(no answer)

Increasing prosperity requires protectionism

The need for protectionist policies has also been argued in international relations

None of the answers are correct

International economic relations are caught up as a zero-sum game (one side wins, the other loses) 17.5 point(s) List and explain five arguments in favor of the WTO WTO as an international organization has played very important role in liberalizing our trade and removing barriers.

WTO has helped in creating an environment such as international trade among member countries in an open, uniform and non-discriminatory manner.

It has ensured Availability of foreign technology to countries at a reduced cost.

Give technical assistance & training for developing countries.

It has provided a forum to handle crisis, to discuss and deliberate economic programmes and work on issues like agriculture, sustainable development. 18.1 point(s) Migration can have a direct economic impact on the host country:

(no answer)

Amortization

None of the answers are correct

"Brainstorming"

Consumption may increase 19.1 point(s) Finding (s) most characteristic of the classical school of economics:

(no answer)

They called for state intervention in all areas of economic life

International economic relations are was conceived as a zero-sum game

In their view, protectionism is needed to increase prosperity

In international relations, the need for a liberal trade policy has been argued 20.1 point(s) The so-called foreign direct investment can take the form of:

(no answer)

Creating a new company

Investing profits again

All answers are correct

Acquisition 21.1 point(s) The economic reason for the flow oflabormay be:

(no answer)

Differences in national wage levels

Fact / risk of unemployment

All answers are correct

Prestige considerations 22.1 point(s) Migration can have a positive economic impact on the sending country (There are more good answers!):

23.1 point(s) The so-called foreign direct investment can take the form of:

(no answer)

All answers are correct

Creating a new company

Purchase of government securities

Purchase of shares (max. 5% ownership) 24.1 point(s) The so-called motivation for foreign direct investment can be:

(no answer)

Morefavorabletax conditions

Achieve big profits in a short time

All answers are correct

Short-term commitment of liquid funds 25.5 point(s) List and explain 5 arguments against free trade!

The Senile industry argument If industries are declining and inefficient they may require significant investment to make them efficient again. Protection for these industries would act as an incentive to for firms to invest and reinvent themselves. However, protectionism could also be an excuse for protecting inefficient firms

To diversify the economy Many developing countries rely on producing primary products in which they currently have a comparative advantage. However, relying on agricultural products has several disadvantages

Prices can fluctuate due to environmental/weather factors Goods have a low-income elasticity of demand. Therefore with economic growth demand will only increase a little. Raise revenue for the government. Import taxes can be used to raise money for the government - however, this will only be a relatively small amount of money

Help the Balance of Payments Reducing imports can help the current account as it restricts imports. However, in the long-term, this is likely to lead to retaliation and also cause lower exports so it might soon prove counter-productive.

Cultural Identity This is not really an economic argument but more political and cultural. Many countries wish to protect their countries from what they see as an Americanisation or commercialisation of their countries

Protection against dumping Dumping occurs when a country has excess stock and so it sells below cost on global markets causing other producers to become unprofitable. The EU sold a lot of its food surplus from the CAP at very low prices on the world market; this caused problems for world farmers because they saw a big fall in their market prices. Other examples include allegations that China has been dumping excess supply of steel on global markets causing other firms to go out of business.

Environmental It is argued that free trade can harm the environment because LDC may use up natural reserves of raw materials to export. Also, countries with strict pollution controls may find consumers import the goods from other countries where legislation is lax and pollution allowed.