ANSWER ANY THREE (3) OUT OF THE SEVEN (7) QUESTIONS
—WORD COUNT/LIMIT: Maximum pages per question: 4 pages.
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• DIAGRAMS, FIGURES or TABLES – If you are including any diagrams,
figures or tables in your answer, these MUST NOT be copied from the
internet or any other source. Please include your own figures/diagrams, i.e.
drawn using a suitable editor or drawn and inserted by you. Figures should
be cited in the main text and appropriately explained.
QUESTION 1: MAXIMUM PAGE OF ANSWERS FOR THIS QUESTION IS 4.
1. Using the 2×2×2 Heckscher Ohlin Model, explain how the pattern of international
trade is determined. Furthermore, analyse who gains and who loses from international
trade.
In your answer, please make sure you list the model assumptions, and use annotated
diagram to show the pre-trade and post-trade situations.
(100 marks)
QUESTION 2: MAXIMUM PAGE OF ANSWERS FOR THIS QUESTION IS 4.
2. Analyse the economic impact of an export subsidy on the welfare of customers,
suppliers and the government relative to a scenario where there are no export
subsidies. In your answer, distinguish between the effects for the exporter compared
to the importer.
(100 marks)
Using the Ricardian Model, analyse what happens when the 2 countries A and B
liberalise their trade with one another. The per-unit labour requirement for producing
product X and Y are described below.
Product XProduct Y
Country A aLC = 2 aLW = 2
Country B aLC* = 8 aLW* = 4
In your answer, make sure you describe concepts relevant to the model, list the
assumptions, and use an annotated diagram to illustrate autarky (i.e. pre-trade) and
post trade scenarios.
Her family bites the dust and she sister exposed to extraordinary dejection and a lone life, yet she figures out how to see a delightful grin structure the haze of pity that immerses her life. For an amazing duration until her disheartening death, Antigone stays a saint who battled for what she accepted was both ways a heritage. I figure individuals ought to feel for her more than Creon on account of her valiant felines that depended on discernment and honesty.The etching, by Giorgio Ghisi in 1570, portrays the narrative of Venus and Adonis. The item comprises of a solitary print from the etching set on a white matte. It is in generally excellent condition, with no sign of any harm to the print. The edges of the print are somewhat unclear, demonstrating that there probably won’t have been consummately even weight applied all through the etching. Ghisi likely picked this medium because of its capacity to show fine subtleties. It likewise took into consideration various prints to be made from one unique bit of workmanship. This permitted the story and work to be seen by a lot more individuals. A few qualities of etching as a medium incorporate the slim and exact lines that make the picture, just as the grayscale concealing displayed. The characters portrayed show a positive review arrangement. Since individuals are intrinsically attracted to where others are looking we are pointed towards Adonis’ face. Venus is taking a gander at Adonis. The light drapery Cupid is holding attracts us to the upper-left of the picture. This makes a roundabout succession from the start. Next, the watcher is then coordinated towards the upper-right, out of spotlight. This is helped by Adonis’ lance pointing toward this path, just as the lighter concealing showing there is another scene. This shows the demise of Adonis after he leaves Venus. The article sets the watcher up to encounter the tale of Venus and Adonis using different procedures permitted by the vehicle of etching.
Starting with Venus in the frontal area of the etching we can see a point by point human structure. There is no shading present anyplace in the picture because of the reality it is an etching, anyway there is concealing. We can see there is a solid utilization of painterliness in the picture, Ghisi depends on the play of light of dim to separate articles from one another.
From a top level point of view there are no solid lines noticeable, anyway we can reveal to one article from another by the edges being a lot darker than the following piece of the picture. This is shown in Venus’ arms when contrasted with the ground close by. It is additionally appeared with her arm and Adonis’ chest. The muscles are obviously plot by extremely almost negligible differences being engraved in bearings opposite to the lines concealing Adonis’ chest. Venus’ body appears to consume space as in there are shadows thrown underneath her feet and the apparel hung over her body has mass. The hung attire suggests that gravity is following up on Venus’ structure. Both Venus and Adonis are the biggest figures in the etching, permitting them to hang out in contrast with the remainder of the picture. Anyway Ghisi likewise utilizes scaling to show questions off out there as littler than in the remainder of the picture. Venus is delineated before Adonis with her body confronting endlessly from the watcher. We are always unable to see her face or her appearance, this likewise serves to halfway darken Adonis from the watcher. Because of her area Venus’ body position is underlined, pointing towards her love for Adonis. This is exhibited by her hand stroking his face and her look at him. Generally speaking Venus’ body is made of straightforward shapes, utilizing an assortment of straight lines and circles to frame the muscles on her back and the garments she is wearing.
Adonis is the second structure that hangs out in the etching. His body has considerably more detail related with it, including all the more garments, an outward appearance, and different adornments associated with his hands and feet. The lines that make up his body are viewed as cross-brought forth in a greater number of zones than are seen on Venus. The texture he is wearing as garments has complex overlays in it over his legs and arms. They are molded and definite utilizing a similar style as on Venus, with the edges being dull and the encompassing regions being a lot lighter. The impression of room and mass is given by the lance and chains Adonis is holding. The rope hanging over Adonis’ arm give a feeling of gravity, just as Adonis holding up the lance. The chains and lance are both littler than Venus and Adonis, giving a feeling of scale to the picture too. The lance facing up and to the privilege permits our eyes to tail it along the picture, moving our concentration to various zones.