"Free trade cannot be said to be beneficial to all sections of a trading nation. As such, it is necessary for it to be accompanied by an income redistribution policy." Discuss
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- If trade increases world GDP by 1 per year, what is the global impact of this increase over 10 years? How does this increase compare to the annual GDP of a country like Sri Lanka? Discuss. Hint To answer this question, here are steps you may want to consider. Go to the World Development Indicators (online) published by the World Bank. Find the current level of World GDP in constant international dollars. Also, find the GDP of Sri Lanka in constant international dollars. Once you have these two numbers, compute the amount the additional increase in global incomes due to trade and compare that number to Sri Lankas GDP.What is wrong with world trade policy? Cite and explain some suggestion to improve the standing of the development countries in world trade?Choose a developing country that is starting to participate in global trade. Describe how economic concepts are affecting the lives of people in that country. Describe both the benefits and drawbacks of the country’s global trade activities.
- Proponents of free trade, primarily developed country economists, argue that the liberalization of trading relationships between rich and poor countries(the removal of tariff and nontariff barriers) would work toward the long-run benefit of all countries. Under what conditions might the removal of all tariff and other impediments to trade work to the best advantage of developing countries? Explain.When two or more nations engage in free trade, how is the standard of living improved in the participating countries? goods become more expensive, demand rises, and output increases goods become cheaper, demand lowers, and output decreases goods become more expensive, demand lowers, output decreases goods become cheaper, demand rises, and output increasesWhen countries do not integrate or join trade organizations, they experience income inequality and low income distribution. Why is this the case?
- Free trade always helps the exporting country at the expense of the importing country. True FalseNot all countries have open trading relationships with all other countries. Some apply restrictions to certain countries. Which countries are subject to restricted trade by your country? Is this a two-way restriction? (AACSB: Written and Oral Communication; Information Technology; Reflective Thinking)Traditional free-trade theories are based on six crucial assumptions, which may or may not be valid for developing nations (or for developed nations for that matter). What are these crucial assumptions, and how might they be violated in the real world of international trade?
- Trade, tariffs, and protectionism. Discuss the World Trade Organisation Rules which member countries are required to follow.discuss the african continental free trade Area (AFCTFA) May advance or adversely affect Botswana economic developmenthich of the following is not true of trade with other nations?Group of answer choices Trade is directly responsible for job loss and unemployment Competition abroad cuts costs and improves quality of goods produced in the United States Trade quickens the flow of ideas and technology Trade expands the menu of goods and services available to trading countries
