Free trade always helps the exporting country at the expense of the importing country. True O False

Q: Prove that: A capital - abundant country can benefit from international trade if it specializes in…

A: Heckscher-Ohlin theory This is an economic theory suggesting a comparative advantage in…

Q: Which of the following is a benefit of free trade? A. It reduces employment in many fields. B. It…

A: B) It makes more diverse products available

Q: Trade in services such as information technology O makes it highly likely that all information…

A: Trade is defined as the exchange of commodities and services across the boundary of the country.…

Q: Protectionism refers to open trade. O True False

A: Protectionism refers to restrictions impose on free trade. It is mainly imposed to protect the…

Q: a country has a (an) in the production of a good it produces at lower opportunity cost than anoti O…

A: An opportunity cost measures the trade-off between two goods i.e. a good needs to be given off in…

Q: Discuss the arguments for and against free trade

A: Free trade can also be described as the application of the free market concept to international…

Q: The case for free trade is strong but the losers need more help. Which statements below are true?…

A: Many analysts have focused on the economic hardship that will be felt by both sides as a result of…

Q: In context of international trade, explain import-substitution and export-promotion policies.  Which…

A: Globalization means integrating an economy with the world economy. Globalization promotes…

Q: olute advantage vs. absolute disadvantageover another nation with examples

A: Absolute advantage is the capability for production of more of a given product using less of a given…

Q: hich of the following is not true of trade with other nations? Group of answer choices Trade is…

A: The economies, and the nations around the globe are involved in trading activities with each other.…

Q: Free trade is controversial because a. it reduces government revenue b. it benefits only a small…

A: Free trade refers to the exchange of goods and services i.e. exports and imports without tariff…

Q: Question: The WTO discourages the use of quotas because they are: a. usually preferred by low income…

A: Hi! thank you for the question but as per the guidelines, we answer only one question at one time.…

Q: Protectionism uses tariffs as trade barriers. O True O False

A: A trade barrier is the set of restrictions that the country’s government imposes on international…

Q: Protectionism is most likely to encourage which type of economic policy? O Raising Tariffs on Steel…

A: Protectionism is a government policy that aims the import restriction by imposing tariffs, and…

Q: Which of the following is not a part of the WTO's stance on trade ? a . Freer import policy for the…

A: WTO (world trade organization) is the global organization that deals with the regulation of trade…

Q: Which country has comparative at producing good x. How can you tell. Which country has a comparative…

A: Comparative advantage means that if a country can produce only two goods say computer and clothes if…

Q: True or False: If Country B has an absolute advantage over Country A in producing bicycles, it will…

A: Let us suppose an economy produces only two goods -  X and  Y. Opportunity cost, in simple economic…

Q: In moving from autarky to free trade, the price of the exported good increases and the price of the…

A: 1. The higher prices in the export industry would inspire profit-seeking firms in order to expand…

Q: has a comparative advantage in wine D. England has a comparative advantage in cloth and Portugal has…

A: When a country produces certain goods or services at a lower cost than other countries, it is said…

Q: The economic basis for trade is O none of these. O speculative attacks. O insourcing. O comparative…

A: The trade between countries depends upon the opportunity cost of producing goods. With international…

Q: This policy holds that you should raise tariffs so that it becomes difficult for imported goods to…

A: There are many strategies that can lead countries to import less. One strategy is substituting…

Q: Suppose that in the absence of trade, the U.S. price for bicycles was higher than the world price…

A: In the absence of trade, if the price for bicycles was higher in the US than the world price for…

Q: When two or more nations engage in free trade, how is the standard of livin mproved in the…

A: Free-trade is a situation where the participants of trade do not impose any restriction upon the…

Q: Generally speaking, smaller countries tend to trade more than larger countries because: Select one:…

A: c) small country like the required Economics of scope

Q: Protectionist governments sometimes use tariffs to prevent imports. O True False

A: Economist promotes the free trade as free trade leads to optimal allocation of the world resources…

Q: The graph below shows

A: As per guidelines, we will answer the first three subpart questions.

Q: What are the 3 main disadvantages and 3 advantages when a country specializes in trade.

A: Trade is a monetary action that is done in a market game plan. Trading straightforwardly suggests on…

Q: List the Good and Bad effect of global free trade in a country?

A: The economics as a study is based upon the idea that the resources which are used in the economy are…

Q: Explain what world trade means. What is the role ofthe Wto and economic communities in…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: In Poland, one hour of labour can produce 2 tons of coal or 4 bushels of oats. In England, one hour…

A: If two nations, An and B, are thought of, where the makers of A can create awareness with a chance…

Q: Regional trade agreements cover only imports and exports. O True O False

A: A treaty signed by two or more countries to facilitate the free flow of goods and services across…

Q: . The mercantilists maintained that: a. Trade benefits one nation only at the expense of another…

A: Mercantilists were of the opinion that the country should always be in a Trade surplus that is the…

Q: When a country allows trade and becomes an exporter of a good, which of the following is NOT a…

A: When an economy allows trade and exports, then the price received by sellers in the domestic market…

Q: In the last 50 years, international trade has grown O rapidly because of fewer trade barriers. O…

A: International trade refers to the exchange of products and services among the people of different…

Q: If China can produce cars at a lower cost than America using all Chinese-made parts, it has a…

A: Producing goods at lower cost than other nation is called absolute advantage.

Q: A German worker takes 400 hours to produce a carand 2 hours to produce a case of wine. A…

A: a. Gains from trade are based on the comparative advantage, which is based on opportunity cost. To…

Q: What is the range of prices (i.e., the CPC) at which trade can occur? Also, show (a) the possible…

A: The Production Possibilities Frontier (PPF) is a graph that illustrates all of the possible…

Q: 3.3 Highlight the main benefits of increasing trade for the South African economy

A: International trade is a crucial factor to consider while examining a nation. The nation's…

Q: figure shows a Country's Before and after trade equilibrium a) Under autarky, how many computer…

A: This figure shows a Country's Before and after trade equilibrium a) Under autarky, how many computer…

Q: free trade, whereas others are unhapppy, even angry, that the government has reduced regulations on…

A: Trade restriction refers to the restrictions imposed on the cross-border trade between countries.…

Q: Assuming TOT (terms of trade) Px/Py is 0.75, which country will gain more from free trade and why?

A: A will get 1 unit of X and will sell it for PX and will buy PX/PY units of Y i.e. 0.75 units of Y. B…

Q: If nations begin to specialize in production for the purpose of trade,   a. the utility from…

A: If the nation specializes in the production of the guns for the trade, it will increase the total…

Q: nternational trade benefits a nation whena. its revenue from selling abroad exceeds itsoutlays from…

A: International trade refers to the exchange of goods and services across the international borders or…

Q: According to the Infant Industry Argument O Poor countries can foster economic development by using…

A: Infant Industry refers to the new and the early stages of development that is not yet capable of…

Q: Producing socks is labor-intensive, while producing satellites is capital-intensive. If India…

A: When two countries involve in trade, one country ‘export’ that good in which it has ‘comparative…

Q: NAFTA puts a halt to international trade. O True O False

A: NAFTA is the North American Free Trade Agreement that establish in the year 1994 which promotes free…

Q: Each country should specialize in producing that good for which it a. has a comparative advantage b.…

A: To determine when a country should specialize in production of a good.