economics allnighter crew (2 Viewers)

[enufownage]

Can anyone name and briefly describe two multilateral and bilateral agreements?

Australia has bilateral trade agreements with NZ created in 1983 known as CERTA (Closer economic relations trade agreements) which states that these countries have agreed to trade without tariff restrictions or protection.

European Union is the most imporant and influential trading greement founded in 1993. Its main objectives are to elimated protectionist policies and barriers to labour movements. Beneficial with increasing trade and higher growth rates.

NAFTA is a multilateral trade agreement between US canada and mexico aims to reduce protection. advantageous in increased trade and promotion of growth.

would write more but could be a possible essay in the HSC lol

 

[verokond]

What is the equilibrium level of income if C=50+0.8Y and I=100

Explain method pls

 

[twinklegal19]

Y = C + I
but C= 50 + 0.8Y
therefore Y= 50 + 0.8Y + 100

then solve

 

[SGSII]

Hidden unemployment refers to those people who are unemployed, but are not actively seeking for work. Hence, they are not included in the unemployment stats

Thanks

 

[Drifting95]

I'm so fucked if the essays aren't on Macro policies and Exchange rates...

 

[verokond]

Disadvantage of bilateral trade agreements

 

[makakandchesse]

Bilateral trade agreements reduce trade barriers and protectionist polices only between two countries, to the exclusion of other economies. Instead of increasing integration, it can be seen as a trade diversion.

 

[Blurgh]

Disadvantage of bilateral trade agreements

Trade blocs. Slows international convergence.

Holy shit I finally answered something. I think I might pass after all.

 

[verokond]

Discuss whether the strengthening of protectionist policies would be a suitable solution to global inequality (3)

 

[Blurgh]

Discuss whether the strengthening of protectionist policies would be a suitable solution to global inequality (3)

Nah it probably wouldn't

I'm on a roll, no question can stop me now

 

[Drifting95]

Anyone got an idea for a basic structure of an international organisations/trading blocs essay?

 

[Amaranth_]

DAMMNNN so this is where everyone is,


Feel free to drop into the history extension all nighter thread and say hi!

 

[MichaelLy]

What exactly do we need to know about our case study?

 

[bibi34]

What exactly do we need to know about our case study?

Everything. Its too late now anyway just download one from the resources section and read over it.

What are the features of a managed exchanged system?

 

[bibi34]

Discuss whether the strengthening of protectionist policies would be a suitable solution to global inequality (3)

Hey do you have the answer to this?

 

[Randox]

Discuss whether the strengthening of protectionist policies would be a suitable solution to global inequality (3)

Hmmm many ways to answer this I'm guessing? The strengthening of protectionist policies, such as the increase in general tariff levels, may see a rise in the international competitiveness of firms in the very short term as they are able to compete to a larger extent with imported foods. As such, this may increase employment levels as the demand for labour increases. This will see the average level of income in the nation consequently decrease, assuming ceteris paribus, and as such decrease inequality in the short term. However, it also evident that protection levels increase inequality. The EU spent 33% (155 billion euros) of its income in 2011 on the common agricultural policy. This largely restricted devolving nations from trading with many European nations. Developing nations rely on agricultural production for income and as such the large protection on agricultural exports has seen inequality increase in some nations, making the strengthening of protectionist policies ineffective as a soloution to global inequality.

Someone mark it please

 

[MichaelLy]

Everything. Its too late now anyway just download one from the resources section and read over it.

What are the features of a managed exchanged system?

I have my own case study, teacher made it one of our assessments to research it and write a five page essay, just i'm pretty sure i don't need to know the whole five pages

 

[5560146]

I have my own case study, teacher made it one of our assessments to research it and write a five page essay, just i'm pretty sure i don't need to know the whole five pages

mostly the influence of globalisation on that country, and the strategies used to promote economic growth and development.

 

[leesh95]

If we get a question on trade agreements how many do we talk about?

 

[makakandchesse]

Causes and effect of CAD?