CETA Handout Research answer

I made a mistake when submitting, the answer options are this instead: - Denmark has a slight comparative advantage in television production because that activity is skill and capital intensive. - Denmark has a strong absolute advantage in TV production thanks to its skilled workers. -Televisions are highly differentiated and knowledge intensive products, where mainly increasing returns drives trade. - Denmark outsources important parts of its TV value chain. Firms move down their learning curves. Does the original answer still stand? Thank you

Q8 An agreement among a group of countries to eliminate trade barriers among themselves, to present a common trading front to the rest of the world in terms of common tariffs, but which does not permit free movement of factors of production among member countries, is called a... a. Free-trade area. b. Customs union. c. Confederation. d. Reciprocity association. e. Common market.

Match the following Regional Trade Agreement examples to the Type of Regional Trade Agreement to which it corresponds. EU Treaty, Asia Pacific Trade Agreement (APTA), MERCOSUR, US-South Korea FTA, Central American Common Market, NAFTA, Economic European Area (EEA), Latin American Integration Association (LAIA), CARICOM-Venezuela Trade & Investment Agreement, CARICOM, APEC, European Free Trade Association (EFTA)   Types of Regional Trade Agreements Customs Union Free Trade Agreement Partial Scope Agreement Economic Integration Agreement Free Trade Agreement & Economic Integration Agreement Partial Scope & Economic Integration Agreement Customs Union & Economic Integration Agreement

In a world where transporting goods and services across borders is costless, it becomes much easier for firms to access foreign markets. This would eliminate a major barrier that many companies face when considering international expansion. Firms can now export their products to foreign markets without worrying about expensive shipping costs, making it financially viable to target new customers in different countries. The absence of trade barriers, such as tariffs, quotas, and regulatory restrictions, further enhances the feasibility of international expansion. Trade barriers typically increase the cost of doing business across borders and can limit market access. With no such barriers, firms can freely engage in cross-border trade, increasing their market reach and diversifying their customer base. In a world with significant variations in factor conditions, such as labor, capital, natural resources, technology and infrastructure, firms can benefit from international expansion by…

The statements are related to international trade. Label each statement as either true or false. Each term may be used more than once. Due in part to big differences in the cost of medical procedures in different countries, medicaltourism is increasing. The General Agreement on Tariffs and Trade (GATT) has globally increased tariffs, trade, andthe standard of living since 1947. Since the 1950s, the U.S has had a trade deficit. The majority of the U.S public agrees that trade barriers should be maintained to protectAmerican jobs.

If the USA could produce 1 ton of potatoes or 0.5 tons of wheat per worker per year, while Ireland could produce 3 tons of potatoes or 2 tons of wheat per worker per year, there can be mutual gains from trade if:   Question 23 options:   The USA specializes in potatoes because of its comparative advantage in producing potatoes.   The USA specializes in wheat because of its absolute advantage in producing wheat.   The USA specializes in wheat because of its comparative advantage in producing wheat.   There can be no mutual gains from trade.