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- Buy American! Buy Spanish! British jobs for British workers! The ideology of economic nationalism seeks to implement trade policies that help to keep jobs and investment at home, while ignoring the advantages of open international trade and invest-ment. Economic nationalism was popular during the Great Depression of 1929–33, when it served to protect domestic firms from international competi-tion. However, this led to curtailing international business activity, making the global economic slow-down worse. Widely recognized as a myopic policy, economic nationalism nevertheless re-emerged dur-ing the global financial crisis that originated in the United States in 2008, prompting many analysts to wonder whether the public has learned anything from international business history.Soon after the U.S. stock market crash of 1929, Willis Hawley and Reed Smoot, two Republicans in the U.S.…Question: What are the explanations and advantages of free trade that the new theories of international trade give? The international monopoly of the drone market is held by an American firm. Its average production cost is given by the following function: CME = (5000-3Q) / 10 China is considering setting up a firm with the average cost function: CMC = (3500 - 3Q) / 10 The international request is written: DM = 1000 - p and the only Chinese request is written: DC = 500– 0.5 p A. Characterize the equilibrium in a monopoly situation when the American firm is alone in the world market. B. Describe the equilibrium in the event that China sets up a drone production industry (assume that Chinese production remains modest - close to 0 - in the event of entry). C. What policy would improve the balance for China and for the world as a whole, if the United States were excluded? Characterize this balance. Explain and comment. D. Represent all the equilibrium situations on a single graph.Please kindly answer this question...
- Question 24 How was the USS Maine important to U.S. imperialism? O it was the primary ship used in the conquest of the Philippines, which fulfilled U.S. control over a chain of islands stretching from Hawaii to China O it was the first steel naval ship built by the U.S., a type of ship that was instrumental in the ability to conquer non-industrialized societies O its sinking produced a popular outcry in the U.S. for war against Spain, which opened an opportunity for the growth of U.S. imperialism O US. anti-imperialists used it as evidence of what could happen to U.S. troops if they tried to military occupy foreign lands D Question 25 Which of the following was NOT a way in which the Platt Amendment affected US relations with Cuba? O k permitted the US to intervene in Cuban politics at any time to protect Cuban "independence O it said that US businesses in Cuba would be protected by the US Army stationed in Cuba Ot gave the US the right to use Naval Bases on the Cuban mainland Ot gve…125) Ricardo's simplified trade model is based on all of the assumptions except a. costs do not vary with the level of production b. the level of technology is fixed for all nations c. perfect competition prevails in all markets d. capital is the only factor of production 5
- The United States and Canada have two factors of production, capital and labor, with which they produce two goods, TV's and Wheat. Technology is the same in the two countries. TV's are Capital-intensive; and the US is capital-abundant. Analyze the effects on the terms of trade and on the two countries' welfare of the following: a) Capital stock increase in the US. b) Labor supply increase in the US. c) Capital stock increase in Canada. d) Labor supply increase in Canada.4) Partial (incomplete) specialization might result due to a. Non-restricted trade b. Constant opportunity cost c. Decreasing opportunity cost d. Increasing opportunity costElaborate on the alternative New Trade Theories. Please explain each of them and specifically indicate the main contributions to the understanding of the explanation of trade flows. Hint: make sure to discuss the issues of First Mover Advantage, Location Specific Advantage, Economies of Scale, and Imperfect Competition.
- Question 9 1 pts In describing the history of the industrial revolution and child labor, Waylon Hedegaard argued that Employers like child labor because they put up less resistance to beatings as a means of labor control. Orphans were the preferred child labor because employers could not pay them their wages and few had any adult to defend their rights. O Child labor was needed to oil machinery as it was running prior to the invention of good ball bearings O Hedegaard made all these argumentsQuestion 7 Please help awnser question 7 For this question, say whether the statement is true or false, and give a short explanation for your answer, with a diagram or example if needed. 7. According to the Stolper-Samuelson theorem, when a labour-abundant country opens upfor free trade, we would expect workers to become relatively better off.3) What is dynamic comparative advantage? Explain with reference to the role of industrial policy.