4. What would some of the impacts on the U.S. economy if the world stopped trading goods and services?

Q: import and export?

A: Imports are the goods and services, purchased from the rest of the world by a country, rather than…

Q: How does protectionism affect world trade?

A: Trade refers to the buying and selling of goods and services with the domestic borders as well as…

Q: What is protection and free trade

A: Protection and free trade are two contrasting strategies to international change and financial…

Q: Why do economists oppose policies that restrict trade among nations?

A: International trade allows nations to interact with one other in the form of export-import of goods…

Q: Why is global trade important?

A: Global trade means trading( Export and import)  goods and services between the nation's .    Global…

Q: Argentina and Brazil can produce cups and plates. Argentina can produce either 30 cups and 0 plates,…

A: Answer: Argentina and Brazil will produce the good in which they have a comparative advantage.…

Q: Why might a low-income country put up barriers to trade, such as tariffs on imports?

A: Barriers to trade: These are the restraints imposed by the government on the flow of international…

Q: 01

A: According to specific factor model, the factors that are, specific to the exports industries or…

Q: Please, answer the following questions after reading the article: 1. Discuss the importance of trade…

A: The international trade can be defined as the exchange of the goods and services across the borders…

Q: Explain what may cause a deterioration of the terms of trade. 

A: The proportion of a nation's export prices to its import costs is known as terms of trade (TOT). To…