A country engaging in trade according to the principles of comparative advantagegains from trade because itO a.is producing exports while outsourcing services.O b. is producing exports using fewer labour units.is producing imports indirectly more efficiently than it could domestically.d.is producing exports indirectly more efficiently than it could alternatively.O e. is producing imports indirectly using fewer labour units.4

In term of economics, the principle of comparative advantage is the ability of a nation, individual,…

A country engaging in trade according to the principles of comparative advantage gains from trade because it O a. is producing exports while outsourcing services. O b. is producing exports using fewer labour units. O c. is producing imports indirectly more efficiently than it could domestically. O d. is producing exports indirectly more efficiently than it could alternatively. e. is producing imports indirectly using fewer labour units.

A country engaging in trade according to the principles of comparative advantage gains from trade because it O a. is producing exports while outsourcing services. O b. is producing exports using fewer labour units. O c. is producing imports indirectly more efficiently than it could domestically. O d. is producing exports indirectly more efficiently than it could alternatively. e. is producing imports indirectly using fewer labour units.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Which of the following liberalized free trade among Canada, the United States, and Mexico in the 1990s? O North American Free Trade Agreement O World Trade Organization O Reciprocal Trade Agreements Act O General Agreement on Tariffs and Trade
What would happen to U.S. economic welfare if the U.S. eliminated tariffs on solar panel imports? A. U.S. economic welfare would increase because of the social gains from increased U.S. consumption of solar panels B. U.S. economic welfare would decrease because the social gains from increased U.S. production of solar panels would be less than the social costs associated with increased U.S. consumption of solar panels C. U.S. economic welfare would decrease because the social gains from increased U.S. consumption of solar panels would be less than the social costs inflicted on U.S. solar panel producers D. U.S. economic welfare would increase because the social gains from increased U.S. production of solar panels would exceed the social costs associated with increased U.S. consumption of solar panels
If nation X can manufacture the same number of computers in a year as nation Y using fewer resources, nation Y has: O a comparative disadvantage. an absolute disadvantage. a mutual gain from trade. an absolute advantage.
1...
A large share of intrafirm trade suggests O There are increasing returns to trade in the industry. O The industry produces a highly differentiated, knowledge-intensive product. O Offshoring is important in the industry. O Strong comparative advantages.
26. What are the implied relative price of wine in international trade? a) 1/3 yard/bottle b) 3 yards/bottle c) 1/2 yard/bottle d) -1/2 yard/bottle e) 2 yards/bottle f) 1/3 bottle/yard g) 2 bottles/yard h) -3 bottles/yard i) 2/3 bottles/yard
When countries specialize in the production of goods they have the comparative advantage in, both and will increase O prices, the trade deficit O production, consumption price level, unemployment consumption, unemployment
given the following table for obtaining points on country A's offer curve: possible term of trade Qty of imports of good Y demand qty of exports of good X supplied 1X:1Y 40 units 40 units 1X:2Y 90 units r 1X:3Y 120 units s in this table, a. r = 45 units, s = 40 units b. r = 180 units, s = 40 units c. r = 45 units, s = 360 units d. r = 180 units, s = 360 units
In the last 50 years, international trade has grown rapidly because of fewer trade barriers. slowly because of increasing transportation costs. slowly because of more government restrictions. rapidly because it is more fashionable to consume foreign goods. O neither more slowly nor more rapidly than in past years.
What is the range of prices (i.e., the CPC) at which trade can occur? Also, show (a) the possible CPC for each country and (b) the possible production and consumption possibility lines for both countries after trade. Show your work!
urgently need
If the Turks and Caicos Islands (TCI) has a comparative advantage in Conch production over the Bahamas, then... O a. The TCI can produce conch with less resources O b. The TCI has a lower opportunity cost than the Bahamas in the production of Conch OC. Both countries are wasting resources Od. The TCI will not trade with the Bahamas