Instructions to Candidates:
- Assignment should be submitted by electronically through Turnitin.
- Academic dishonesty of any kind is strictly prohibited. Avoid Plagiarism, Similarity.
- Assignments should be submitted by its due date as scheduled by the Course Instructor.
- MS Word document, Times new roman, front size 12 and 1.5-line space, more than 1500 words.
- Referencing Use APA format.
|CLO 1||Discuss the basic terms, concepts, theories and principles of international economics|
|CLO 2||Employ the determinants of trade at regional and global perspective|
|CLO 3||Analyze the government regulations for trade liberalization and international factor movement|
|Marks Distribution as per Questions and CLOs|
|Question||Maximum Marks||Marks Awarded||Relevant CLO|
|Total Marks:||20 Marks|
Q1. Proponents of an open trading system maintain that free trade leads to lower prices, the development of more efficient production methods, and a greater range of consumption choices.
Describe the major economic interdependence trade. (CLO1) (5 marks)
Tariffs have mixed implications for citizens depending on their industry and position within it. The poor are disproportionally impacted by tariffs as they are considered economically regressive. among the arguments for trade barriers are job creation, protection against cheap foreign labor, fairness in trade, maintenance of the domestic standard of living, equalization of production costs, infant industry argument, and various non-economic arguments. Tariff-related gains for America are a complex issue. Discuss the effective rate of tariff protection and the process of tariff escalation. (CLO2) (5 marks)
The policies are other than tariffs which restrict the volume of international trade Such policies are known as non-tariff barriers to trade and include such practices as import quotas, orderly marketing agreements, domestic content requirements, subsidies, antidumping regulations, discriminatory government procurement practices, social regulations, and sea transport and freight restrictions. It is noted that quotas and tariffs have many of the same economic effects; however, quotas tend to be more restrictive. Special attention is given to the revenue effect of an import quota, which may be captured by domestic importers, foreign exporters, or the domestic government. Differentiate between an import subsidy and an export subsidy, Support your answer of trade relation between USA & Japan. (CLO3) (5+5=10marks)
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