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- Describe how the Philippines may use the Heckscher-Ohlin Trade Theory to develop its international trade relations and policies. (2 paragraphs minimum)Which one of the following will happen due to the bilateral free trade agreement (FTA) between US and S. Korea? import tariffs on Korean goods exported to US will be eliminated import tariffs on Korean goods exported to US will increase import tariffs on American goods exported to S. Korea will increase import tariffs on all foreign goods exported to US will be eliminatedThe imposition of a tariff on foreign goods is more likely to decrease producer surplus of the domestic firms competing with those foreign firms on whom the tariff is imposed. True or False
- The following hypothetical production possibilities tables for China and Canada. Assume that, before specialization and trade, the optimal product mix for China is alternative D and for Canada is alternative S.For a large country import tariffs will yield a price increase for domestic consumer that is A higher than the tariff itself B equal to the tariff itself C smaller than the tariff itselfFinally, Canada and Australia are both English-speaking countries with not-too dissimilar population sizes. However, Canada’s trade is twice as large as that of Australia’s. to what extent, does comparative advantage help explain this?
- Find the attached file.Which of the following describe technical barrier to trade? Select all that apply. Government controls imposed on the flow of capital into or out of the country ☐ Two prospective trading partners being very distant from one another O Trading partners struggling to made trade deals because of the inability to communicate seamlessly and effectively ☐ Imposition by a country of a numerical limit on how much sugar can be imported under a low tariff ☐ Agricultural subsidies provided by the U.S. government to corn farmers Two countries agreeing to eliminate all tariffs on goods traded between themConsider two countries, home and foreign and a single good, Y. Assume that home country imports good Y from foreign country. The import demand curve for good Y in home country is given by: MD = 170 – 2PY and the export supply curve for good Y in Foreign country is given by: EX = PY – 40. Free Trade Price: $70 30 Units of Good Y are traded under free trade If a tariff of $15 is imposed by the home country on each unit of good Y imported, Foreign exporters receive a price of $60. If a tariff of $15 is imposed by the home country on each unit of Good Y imported, Home consumers pay $75 If a tariff of $15 is imposed by the home country the number of goods traded is 20. a) If home country imposes a specific tariff of $15 per unit of good Y imported, what is the tariff revenue? Show your work. b) Assume that instead of a specific tariff, an import quota will be used on good Y. What is the amount of the quota that will have identical effects (in terms of amount of good Y imports and the…
- i live in turkey a) What are the comparative advantages (as a product or service) of your country? Why? b)Are those products main export goods/services of your country? i) If yes, please give the percent of export share of those products. ii) If no, please indicate which products/services should beconsidered as products that they have comparative advantage considering the current export volume?Discuss the potency of the African diaspora population to stimulate the continents global trade competitiveness.4. Effects of a tariff on international trade The following graph shows the domestic demand for and supply of times in Jordan. The world price (Pw) of limes is $790 per ton and is displayed as a horizontal black line. Throughout the question, assume that all countries under consideration are small, that is, the amount demanded by any one country does not affect the world price of limes and that there are no transportation or transaction costs associated with international trade in limes. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. PRICE (Dollars perton) 1110 1070 1030 9:00 950 910 BTO 830 790 750 710 Domestic Demand 0 10 1 100 Domestic Supply 150 200 250 300 350 400 450 500 QUANTITY (Tons of times)