ECON 20A Study Guide - Junk Food, Influenza Vaccine, Wallachia
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Is and econ 13 - sample second midterm questions. Suppose each of two countries, say china and the u. s. , can either pursue free trade or engage in trade protection. If both countries were to engage in free trade, they would each see their income grow by billion. If both were to engage in trade protection, they would each grow by billion. If china were to choose free trade and the u. s. trade protection, china would not grow at all and the u. s. would grow by billion. Conversely, if the u. s. were to choose free trade and china trade protection, china would grow by billion and the u. s. would not grow at all. Please use this information in the following four questions. (in answering these questions, you might find helpful to draw the matrix of different outcomes. : which of the following combination of policies maximizes the sum of growths for the.
