d) King's Landing (KL) generally runs a trade surplus. Do you think this is mainly related to: (i) high foreign demand for goods made in KL; (ii) low demand for foreign goods in KL; (iii) a high saving rate relative to investment in KL; or (iv) structural barriers against imports into KL? Explain your answer.
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- d) King's Landing (KL) generally runs a trade surplus. Do you think this is mainly related to: (i) high foreign demand for goods made in KL; (ii) low demand for foreign goods in KL; (iii) a high saving rate relative to investment in KL; or (iv) structural barriers against imports into KL? Explain your answer. [25 marks]Assume that you have been hired by an International Organization to be consulted on various issues that the country Motherland faces. For this exercise, assume that Motherland is a small agricultural economy. The biggest trading partner of Motherland is the United States. Unlike Motherland, the United States is a large industrial country. Assume Motherland imports electronics from the United States. The government of Motherland is considering to impose quotas on these electronics imports coming from the United States. Would you recommend it? Explain your answer. In your explanation, distinguish the effect on the consumers of electronics, the domestic producers of electronics and the government.Your explanation should not exceed 200 words.Q29 What is meant by the concept of "trade diversion"? a. Trade that is shifted between members of a customs union. b. The replacement of an existing foreign supplier from one country with a new foreign supplier from another country based on its membership in a trade agreement. c. The creation of a free-trade area. d. Something that is predicted by theory, but has never been observed in practice. e. An increase in economic efficiency that comes with a newly established trading relationship.
- Assume that you have been hired by an International Organization to be consulted on various issues that the country Motherland faces. For this exercise, assume that Motherland is a small agricultural economy.The biggest trading partner of Motherland is the United States. Unlike Motherland, the United States is a large industrial country Motherland imports electronics from the United States. The government of Motherland is considering to impose quotas on these electronics imports coming from the United States. Would you recommend it? Explain your answer. In your explanation, distinguish the effect on the consumers of electronics, the domestic producers of electronics and the government.Your explanation should not exceed 200 words.D7)If Slovenia exports cloth, then if it increases its production of cloth due to economic growth biased toward cloth, this would O A) decrease its marginal propensity to consume. B) have no effect on its terms of trade. C) improve its terms of trade. D) increase its exports. E) harm its terms of trade.
- Consider an economy that used to operate in free trade, with total market surplus of $120 million. As a result of the application of a tariff (tax on imports), the economy experiences deadweight loss of $8 million. That means that total market surplus for this nation is now $ million. Enter only a number and decimal point/negative sign as needed. Round your answer to two decimal places as necessary. Notice that the answer is in terms of millions, so if you think total market surplus is now 999 million (999,000,000), enter only 999 in the blank.“Trade policies determine the size of markets for the output of firms and hence strongly influence both foreign and domestic investment. Over time, the influence of trade policies on the investment climate is growing.”(a) Explain, using a diagram, how an increase in the demand for a country’s exports is likely to affect its terms of trade and its balance of trade. (b) Do PEDs for exports and imports come into play?
- (a) Define, compare, and contrast the following trade policies: (i) tariffs, (ii) export subsidies, and (iii) quantitative restrictions. Be sure to include in your answer a discussion of the expected effect these policies have on prices, exports (for the exporting country), imports (for the importing country), and the welfare of various actors. (b) In 2016, the United Kingdom voted to withdraw from the European Union. First, explain the motivation supporting both the "leave" and "stay" policies. Second, what is the expected economic effect of the United Kingdom leaving the European Union?Q53 Many people argue that the imposition of tariffs in industry X will increase factor incomes in that industry and therefore be good for the country as a whole. The counter-argument is that... a. Factor incomes would first rise and then decrease in industry X. b. The increase in industry X factor incomes would be more than offset by reductions in real incomes to all other domestic residents. c. The increase in factor incomes in industry X would reduce profits to business owners by an equal amount. d. Factor incomes overall would increase, but wages in industry X would fall, which would hurt workers in that industry. e. The increase in factor incomes would increase unemployment.Discuss The import substitution strategy in the context of a country's large trade deficits with key international partners?
