1. A stockbroking firm provides your business with a quarterly review containing forecasts of GDP growth for one, two and three years ahead. You are asked to evaluate the forecasting record of this...

1. A stockbroking firm provides your business with a quarterly review containing forecasts of GDP growth for one, two and three years ahead. You are asked to evaluate the forecasting record of this firm. How would you propose doing this?

2. According to official estimates, world income will increase by over $500 billion following implementation of the Uruguay Round. What, in your view, are the main sources of these gains? Why have so many countries, both developed and developing, participated in this major movement towards global free trade?