Explain the concept of intra-industry international trade (IIT) and the alternativeways of it can be measured. Distinguish between intra-industry trade and inter-industry trade.

Explain what contribution is made to the explanation of intra-industry trade patterns by Linder's demand similarity theory.

Explain what contribution is made to the explanation of intra-industry tradeby the product life cycle theory.

What do you consider the major problems facing the developing countriesat present?

Developing countries sometimes argue that the developed industrialized nations' tariff structures discourage the less developed nations from undergoing Industrialization. Explain.

What can the WTO do for developing countries in achieving the UN Sustainable Development Goals?Using your knowledge of economic, trade theories and policy, give reasons for your answers.

What is meant by the foreign exchange market? Does it have a centralised? Location? Explain.

In a free market, what determines an exchange rate, in the short run and the long run?

How would a fall (depreciation) in the New Zealand dollar affect the New Zealand economy? If the New Zealand dollar were to fall further, should the Government and the Reserve Bank do anything about it?Justify your answer.

What are the benefits of New Zealand being an active participant in resolvingInternational economic issues and promoting the global trading system?

Use trade theories to outline the gains from trade when a country in Autarky opens itself up to trade.

What problems might result from allowing 100% free trade?