Answer all questions, using citation and personal perspective where appropriate.
- What is the Heckscher-Ohlin theorem?
- Name three dynamic gains from trade.
- Explain the price-specie flow doctrine.
- Identify and describe the three “waves” of globalization discussed in the lecture.
- Compare and contrast two discussed trade barriers, tariffs, or quotas.
- What is “dumping,” and who determines when dumping has taken place?
- What is the difference between global quotas and selective quotas?
- Why would a country set an export quota?