Question

Question 1)

Many economist , starting with Adam Smith in 1776 agree that free trade has the following benefits: (select all that apply)

	1.	Higher standard of living
	2.	can lead to a more peaceful world due in part to cultural enrichment
	3.	More competition can lead to lower prices for consumers
	4.	more gold for the winners

Question 2)

When looking at a country's Balance of Payments, the Current Account tracks the flow of imports and exports in goods and services .

True

False

Question 3)

We know from our in-class instruction that the development of the single European currency and the European Economic Union took many years to develop. To date the European Union has been largely successful judging from Opinion Polls taken in the Euro Zone. Which of the follwing statements about the European Union are not true. (select all that apply)

	1.	The Exchange Rate Mechanism (ERM) came into being in 1979
	2.	To date 19 of the 28 member states are using the single European currency
	3.	the single European currency was launched in 1999
	4.	The United Kingdom is considering to drop the pound sterling and join the single currency, ie., the Euro

Question 4)

In 2001 the World Trade Organization (WTO) kicked off the Doha Round of global Trade Negotiations. In 2015 the Doha Round ended without any agreements being signed. The failure of the Doha Round is said to have spawned a number of regional trade agreements. True or false?

Answer 1

Question 1)

Many economist , starting with Adam Smith in 1776 agree that free trade has the following benefits: (select all that apply)

	1.	Higher standard of living
	2.	can lead to a more peaceful world due in part to cultural enrichment
	3.	More competition can lead to lower prices for consumers

Trade benefits all nations involved. It allows them to consume beyond their PPF.

Question 2)

When looking at a country's Balance of Payments, the Current Account tracks the flow of imports and exports in goods and services .

False
It also includes factor income and transfer payments.

PLease post other questions separately.