Home Page EC 340, International Trade and Finance Files EC 340 Problem Sets Politics, the Environment, and Trade

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1. Environmentalists worry that GATT and the WTO pose a threat to environmental quality. How does GATT constrain environmental policy options?

2. What is an externality and why can they result in an inefficient level of production or consumption?

3. How might keiretsu explain the closed nature of Japan's trade structure?

4. According to Paul Krugman's article, "Protectionism: Try It, You'll Like It", why are the beneficiaries of trade barriers more effective politically than the victims? Why then is U.S. trade relatively free?

David A. Latzko 318 COB Department of Business and Economics Wilkes University Wilkes-Barre, PA 18766 phone: (717) 408-4718 fax: (717) 408-4917 dlatzko@wilkes.edu wilkes1.wilkes.edu/~dlatzko