CIA4U - Analysing Current Economic Issues Unit 3 Assessment - Macroeconomics Instructions:​ This assessment involves learning some new information and applying it to what we studied together in Unit...

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please answer all 6 questions in paragraph for. Then create accompanying slides to go with it. Paragraph should not be on slides. Just bullet points summarizing.


CIA4U - Analysing Current Economic Issues Unit 3 Assessment - Macroeconomics Instructions:​ This assessment involves learning some new information and applying it to what we studied together in Unit 3. The new information comes in the form of two podcasts about trade. The column on the left below lists all the new information that you should take notes on when listening to the pod casts. The column on the right shows a list of the ideas we studied in Unit 3 that you should be familiar with or look up in your notes when answering the questions. You can see what you are being assessed on using the Answer Criteria rubric below. All marking categories are divided evenly with 5 marks allocated to each question. Please answer each question in the form of a paragraph and an accompanying slide with a few bullet points about the subject, New Learning Ideas Already Studied ❏ How did Adam Smith redefine the wealth of a nation? How did that impact the view on trade? ❏ How did America see trade when it first began? ❏ Who was Cordell Hull and his idea about trade? ❏ How did people see the ideas of Cordell Hull at first and how did that change after WW2? ❏ What is the GATT (General Agreement on Tariffs and Trade)? ❏ What are non-tarrif barriers? ❏ How can domestic laws influence trade even when there are little or no tariffs? ❏ How might the WTO rule in favor of global efficiency and against one country’s preference for their market? ❏ Specialization ❏ Productivity ❏ Efficient, inefficient and impossible production ❏ Opportunity cost ❏ Constant opportunity cost ❏ Increasing opportunity cost ❏ World Trade Organization ❏ Tariffs ❏ Lumber dispute between US and Canada ❏ Trade war between US and China ❏ Production Possibilities Curve ❏ Comparative Advantage ❏ Absolute Advantage ❏ The key drivers of trade ❏ Globalization ❏ Migration ❏ Environmental impacts of globalization ❏ Globalization and inequality ❏ Trade deficit ❏ Trade surplus ❏ Trade and jobs Paths to Knowledge CIA4U - Analysing Current Economic Issues Unit 3 Assessment - Macroeconomics ❏ Planet Money Podcast: Trade Show ❏ Planet Money Podcast: Worst Tariffs Ever ❏ Review notes on Unit 3 Answer 5 of 6 questions or answer all and only the top 5 will count. 1. What notion that we studied in Unit 3 does the speaker begin by challenging? Explain. 2. What was the GATT? Select two ideas from the “already studied” list above that apply to the GATT. First explain the ideas and then explain how those two ideas might contribute to global peace? 3. What are non-tariff barriers? Identify one example from the “already studied” list above that describes a non-tariff barrier? Explain your answer. 4. How did the shift from the priorities of GATT to the priorities of the WTO create challenges relating to the environmental impacts of trade? 5. Let’s assume the above graphs are showing the production possibilities curve for Mexican tuna vs salmon (the example from TED Talk). The US places on non-tariff barrier on tuna. https://www.npr.org/2020/11/18/936394032/trade-show-update https://www.npr.org/2020/11/11/933950483/worst-tariffs-ever-classic https://www.npr.org/2020/11/11/933950483/worst-tariffs-ever-classic CIA4U - Analysing Current Economic Issues Unit 3 Assessment - Macroeconomics Which of the above options shows the most likely impact on production possibilities for Mexico? Explain your answer. 6. If Mexico decided to set up its currency so that one peso would always be half the value of one dollar, do you think that would be a non-tariff trade barrier for the United States in its trade relationship with Mexico? Explain your answer. Answer criteria Max points Points awarded Summaries of new learning and ideas already studied are accurate. (Knowledge) 20 Answers demonstrate an ability to apply the new learning to the ideas already studied. (Application) 20 Your pairing of new learning to ideas already studied shows creative insight. (Thinking) 20 Your answers are clear and well presented (spelling and grammar). (Communication) 20 Total 80
Answered 6 days AfterJan 07, 2021

Answer To: CIA4U - Analysing Current Economic Issues Unit 3 Assessment - Macroeconomics Instructions:​ This...

Saloni answered on Jan 14 2021
138 Votes
WPS Presentation
ANALYSING CURRENT ECONOMIC ISSUES
By-
Specialization and Productivity
Producti
vity
Measure of Efficiency
Task are done regularly
Specilization
Skilled Set
Limited levels of good & services.
GATT and WTO
GATT WTO
Legal Agreement
Minimizes the barriers to international trdae
Reduce tariff,quotas and subsidies
Purpose was to rebuild and liberalize global trade.
Superseded GATT
Deals with the rules of international trade.
Reduce trade...
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