Answered: Question 1 Which of the following…

Question 1 Which of the following is NOT a result of specialization? Multiple Choice Increased productivity Innovation Higher transaction costs Increased trade

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter18: International Trade And Finance

Section: Chapter Questions

Problem 3SQP

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Question 1

Which of the following is NOT a result of specialization?

Multiple Choice

Increased productivity
Innovation
Higher transaction costs
Increased trade

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6 Question 1: How China became the production center of the world? Explain using Comparative Advantage theory of trade.
Question 1 a) How do the mercantilist’s view on trade differ from those of Adam Smith? b) How did Adam Smith explain his contention that all nations engaged in trade can benefit from trade?
Question 18 Which of the following statements is correct? The gains from specialization and trade are based on absolute advantage. If a certain trade is good for one country, it must be good for the other country Two individuals can benefit from trade even if neither has a comparative advantage in some activity Two countries can gain from specialization and trade as long as they have different opportunity costs in the production of some goods
Question 4a. What are the gains to be derived from free trade? b. Illustrate, with the use of diagrams, and discuss the gains from free trade?c. Clearly explain and illustrate the gains from exchange and the gains from specialization?
Question 15 Which of the following statements is correct? Two countries can gain from specialization and trade as long as they have different opportunity costs in the production of some goods If a certain trade is good for one country, it must be good for the other country Two individuals can benefit from trade even if neither has a comparative advantage in some activity The gains from specialization and trade are based on absolute advantage.
Instruction: Make your own definition of economic globalization and tell the reason on why all products you have or you have wore are part of economic globalization.
Part A it's a long question do it with your own words
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If a country closes off to trade and notices that the number of firms in an industry doubles in size, what economic theory would help us explain this phenomenon? A. Stolper-Samuelson. B. Melitz. C. Ricardian. D. Cournot. Explain your answer in up to 200 words and using a diagram