Name/I.D. Number:___________________________________________________________ Section: ________________ Date: __________ ________ Part 1. Video Questions on "Global Exchange: Free Trade and Protectionism" 2. What kind of goods are exported from developed countries ( of North America, Europe & East Asia) and from developing counties (of Africa, South Asia & Latin America)? _____________________________________________________________________________________________________________ ____ ______________________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________________ 4. What indicates the degree of openness of a given nation to international trade? Can you give example of open economies? ______________________________________________________________________________________________________________________________ 6. What kind of approach was followed by East Asian countries? Can you cite example from this group? ______________________________________________________________________________________________________________________________ 8. As a principle, what should decide a nation's export to and import from other counties? ______________________________________________________________________________________________________________________________ 10. According to Eli Heckscher and Bertil Ohlin, what determines the relative labor productivity, and thus, the pattern of trade? ______________________________________________________________________________________________________________________________ 12. What kind of goods are exported from countries that use abundant amount of labor? ______________________________________________________________________________________________________________________________ 14. Who are staunch opponents of free trade in developed countries? ______________________________________________________________________________________________________________________________ 16. What do Proponents of free trade say? _____________________________________________________________________________________________________________________________ 18. Why is protectionism mainly strong? ____________________________________________________________________________________________________________________________ 20. What gave rise to new products and industries in Europe earlier in the past century? ____________________________________________________________________________________________________________________________ 22. What measure was taken by the U.S. government in the 1930s as result of low commodity prices that threatened domestic agriculture? ____________________________________________________________________________________________________________________________ 24. What was the annual growth rate in manufacturing in East Asia between 1965 & 1989 as compared to Latin American countries? ____________________________________________________________________________________________________________________________ 26. In what ways industrialized countries looked at trade after the Second World War II? ____________________________________________________________________________________________________________________________ 28. Identify the main challenge for WTO? ____________________________________________________________________________________________________________________________ 30. What is the consensus among economists about the importance of free trade? ____________________________________________________________________________________________________________________________ 32. What question(s) do you have after watching the video about "Global Exchange: Free Trade and Protectionism" or the Infographics in this packet? Specify at least one: _______________________________________________________________________________________________________

Economics

Roger a. Arnold

thirteenth edition

**HERE IS THE VIDEO LINK ** NOT SURE IF YOU CAN OPEN IT

https://proxylib.msjc.edu:2093/p_ViewVideo.aspx?xtid=34992