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Q. Distinguish between autonomous and accommodating items in the balance of payments.

Q. Country A and Country B produce computers and Web sites. The unit labor requirements are given in the table below: Computers Web pages Country A 50 1 Country B 100 1 At which of the following relative prices (computers in terms of Web sites) will Country B produce both goods under free trade?

Q. The balance of payments equals:

Q. The analysis method used in Leontief’s study

Q. If a nations terms of trade is ½ its trade partners terms of trade is

Q. The absolute slope of a concave PPC is given by

Q. All of the following are credit items in the balance of payments, except:

Q. In the European Union:

Q. Trade between two countries can benefit both countries if

Q. If a very small country trades with a very large country according to the Ricardianmodel, then