Q1. Describe the concepts, nature & scope and considerations of international economics.
Q2. Explain the theories of international trade in detail.
Q3. Define the Heckscher-Ohlin model and Samuelson models of international trade.
Q4. Explain the various terms of trade with an example.
Q5. Describe the Ricardo’s approach and J. S. Mills approach of gains from trade
Q6. What are balance of trade and balance of payment? What are the various difference between the two?
Q7. What is disequilibrium in balance of payment? Explain the various causes of disequilibrium of balance of payments.
Q8. Describe the working of the IMF and World Bank in detail.
JPMorgan Chase lost at least 3.5% as all 27 companies in the S&P 500 Diversified Financial Index declined.
“This gave the politicians everything they need to push for stronger financial reform and it’s going to further shake investor confidence in Wall Street,” said Matthew McCormick, a banking-industry analyst and portfolio manager at Bahl & Gaynor in Cincinnati, which oversees $2.8 billion.
Goldman Sachs spokesman Lucas Van Praag didn’t return a call and an e-mail seeking comment. A call to Richard Klapper, an attorney for Goldman Sachs at Sullivan & Cromwell, wasn’t returned. Tourre, reached by phone in London on Friday, declined to comment. A call to Pamela Chepiga, a lawyer for Tourre at Allen & Overy, wasn’t returned.
Stefan Prelog, a spokesman for New York-based Paulson, said he couldn’t comment. The company oversees $32 billion.
Q1. What was the problem with Goldman Sachs?
Q2. How this problem could have been solved?
Q3. Explain the scam or fraud discussed in the above case study in your own words.
1. International monetary system refers to the rules and procedures by which different national currencies are exchanged for each other in –
2. A topic that encompasses a wide range of issues—reserve currencies, exchange rates, capital flows, and the global financial safety net, to name a few, is the
3. The IMF came into existence in December 1945, and it announced its readiness to commence exchange transactions in –
4. The main purposes for which the IMF was set up were to provide exchange stability, temporary assistance to countries falling short of foreign exchange and international sponsoring of measure for curing the fundamental causes of disequilibrium in –
5. The functions of the International Monetary Fund include all of the following except
6. Under the international monetary system as it actually operated between 1947 and 1971, the emergence of seemingly-chronic deficits and surpluses in various countries’ balance of payments position (i.e. deficits and surpluses which did not seem to get eliminated) was called
7. In its lending to member countries, the International Monetary Fund (IMF):
8. In the current exchange rate arrangements of IMF members:
9. Under the Bretton Woods system set up at the end of WWII, exchange rates were –
10. The post-Bretton-Woods international monetary system is generally thought to have been characterized by all except one of the following features. Which one does not seem to have been a characteristic of the system?
11. Under the Bretton-Woods agreement
12. In the current international monetary system, all countries
13. An attribute that doesn’t contribute to Porters Diamond model is –
14. The theory states that, lack of resources often helps countries to become competitive, is the
15. Theory of Mercantilism propagates
16. Credits transferable by original beneficiary in favor of secondary beneficiary are known as
17. When the exporter, expects the importer, to make the payment immediately upon the draft being presented to him is called
18. The basic objective of export Promotion Council is to promote and develop the Exports of the
19. General Agreement on Trade in Services will not be applicable to
20. As a part of WTO guidelines, Agreement on Agriculture (AOA) doesn’t consider-
21. Paul Krugman is credited with the
22. Which of the following observations about a tariff is not true? A tariff:
23. Which of the following is not recorded as a debit item in the U.S. balance-of-payments accounts?
24. Which of the following is true with respect to the infant industry argument for protection?
25. The nationally optimal tariff hopes to take advantage of the idea that
26. The “optimal tariff” can be imposed because
27. The “capital account” in balance of payments data includes
28. An international cartel that maximizes its profits is optimal for
29. The characteristics of quotas and tariffs are described correctly by which of the following:
30. The best and probably rarest way to allocate import licenses is –
31. “When a country exports a commodity produced with intensive use of its abundant factor, that factor’s returns will rise.” This statement is
32. “Countries export commodities produced through the intensive use of factors which they possess in abundance. Labor abundant countries export labor-intensive commodities and import capital-intensive commodities.” This statement is-
33. In the Heckscher Ohlin model, international trade is based mostly on a difference in
34. Intra-industry trade (IIT) is
35. According to modern (“alternative”) trade theory
36. Ricardo explained the law of comparative advantage on the basis of
37. It refers to the balance of difference between the value of total imports and export of visible material goods and it is the
38. “Balance of payments of a country is a record of all economic transactions over a period with the rest of the world.” Defined by
39. Receipts and payments are recorded on the basis of the
40. The balance of payments account of a country is constructed on the principle of double-entry
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