How does the discussion regarding trade in services related to innovation developments in globalization, and in information and computer technology? 3. How does the discussion regarding trade in services related to innovation developments inglobalization and in information and computer technology?O. Focus

Trade in services means the sale and delivery of an intangible product (popularly known as a…

Answered: How does the discussion regarding trade…

How does the discussion regarding trade in services related to innovation developments in globalization, and in information and computer technology?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains From Trade

Section: Chapter Questions

Problem 5QR

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1.How do international economic relations differ from interregional economic relations?(b) In what way are they similar?2.How can we deduce that nations benefit from voluntarily engaging in international trade?3. Can you think of some ways by which a nationcan gain at the expense of other nations from traderestrictions? 4.Answer the following questions with reference toProblem 5.(a) What is the dollar price of wheat and cloth inthe United Kingdom if the exchange rate betweenthe pound and the dollar is £1 = $2? Would theUnited States be able to export wheat to the UnitedKingdom at this exchange rate? Would the UnitedKingdom be able to export cloth to the UnitedStates at this exchange rate?(b) What if the exchange rate between the dollarand the pound were £1 = $4?(c) What if the exchange rate were £1 = $1?(d) What is the range of exchange rates thatwill allow the United States to export wheat tothe United Kingdom and the United Kingdom toexport cloth to the United States. 5.(a)…
Q31 Economies of scale and product differentiation can provide an explanation for... a. Absolute advantage. b. The imposition of trade barriers. c. Intra-industry trade. d. Countries trading in completely different products. e. Countries remaining in autarky.
(1) Specialization increases productivity which results in a De creasing revenue increasing b с d. asing marginal retums increasing opportunity increasing costs marginal output.
7. What is the law of comparative advantage? According to the law of comparative advantage, what should be the distin- guishing characteristics of the goods a nation produces? What should be the distinguishing characteristics of the goods a na- tion imports? How will international trade influence people's production levels and living standards? Explain. 15
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Which is NOT TRUE regarding the diffusion of the printing press and printed books in Europe? O It helped the free exchange of ideas. O It helped facilitate the Italian Renaissance. It increased the importance of clergy in the production of knowledge, since they owned the presses. It helped destabilize traditional society. O Printing brought literacy to adults, especially males as female literacy lagged far behind.
Which of the following is NOT a benefit from trade? O a. the ability to specialize O b. an increase in the variety of goods and services available O c. reduced competition O d. lower prices
How does comparative advantage lead to gains from trade?
Table 33.15 shows how the average costs of production for semiconductors (the chips In computer memories) change as the quantity of semiconductors built at that factory increases. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.
10:28 PM O Additional Activities Q1_Week 5- Effects of Globalization and Interconnectedness of People and Nations.pdf A. Explain the benefits of collaboration and cooperation in the activity; "wall climbing"; no tools nor harness were used; just the body to run over the wall. Relate it to the definition of a network. B. The learner locates on a map the workplaces of the OFWS in their cornmunity and writes a reflection naner n the effects of labor migration to tbeir community in relation to Glohalization
Question 1A. Define and explain the theory of comparative advantage (use an example ifnecessary).B. Discuss limitations of comparative advantage (Include in your answer at leastfive key limitations to this theory).C. Spencer Grant is a New York-based investor. He has been closely following hisinvestment in 100 shares of Vaniteux, a French firm that went public in Februaryof 2010. When he purchased his 100 shares at €17.25 per share, the euro wastrading at $1.360/€. Currently, the share is trading at €28.33 per share, and thedollar has fallen to $1.4170/€.a If Spencer sells his shares today, what percentage change in the share pricewould he receive?What is the percentage change in the value of euro versus the dollar overthis same period?What would be the total return Spencer would earn on his shares if he soldthem at these rates?
10 specialization increases productivity a De creasing revenue b increa my marginal returns increating opportunity costs d. increasing marginal с output.