ECO535 Wk 6 Apply Summative Assessment International Trade Evaluation

Discuss four (4) ways in which your government could use trade barriers to protect its market from foreign competition. Include in your discussion who can be affected by these trade barriers and what course of action can be taken by affected parties in seeking remedial action against the measures instituted by your government.

Q78 The main objective of protectionist trade policies is typically to... a. Maximise world production. b. Shield local producers from foreign competition. c. Create a level playing field. d. Raise government revenues through tariffs. e. Raise average real wages in the economy.

In the United States, what percent of gross domestic product does international trade account for?Chapter 325 percentO 12.5 percentO 75 percent50 percentO 90 percent   Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Identify and discuss four (4) reasons for international trade

The Economic Commission for Latin America and the Caribbean (ECLAC) says the region’s foreign trade in 2020 had its worst performance since the global financial crisis of 2008-2009, because of the economic crisis prompted by the global COVID-19 pandemic and the restrictions imposed by governments to stop its spread. (Daily Gleaner, dated September 27, 2021)   List and explain three (3) benefits of international trade.                                     Outline two (2) trade restrictions the government could have implementedto stop the spread of the virus.

(a) Define, compare, and contrast the following trade policies: (i) tariffs, (ii) export subsidies, and (iii) quantitative restrictions. Be sure to include in your answer a discussion of the expected effect these policies have on prices, exports (for the exporting country), imports (for the importing country), and the welfare of various actors. (b) In 2016, the United Kingdom voted to withdraw from the European Union. First, explain the motivation supporting both the "leave" and "stay" policies. Second, what is the expected economic effect of the United Kingdom leaving the European Union?

Describe how the Philippines may use the Heckscher-Ohlin Trade Theory to develop its international trade relations and policies. (2 paragraphs minimum)

Case: Moving U.S. White-Collar Jobs Offshore Economists have long argued that free trade produces gains for all countries that participate in a free trading system, but as the next wave of globalization sweeps through the U.S. economy, many people are wondering if this is true, particularly those who stand to lose their jobs because of this wave of globalization. In the popular imagination for much of the past quarter century, free trade was associated with the movement of low-skill, blue-collar manufacturing jobs out of rich countries such as the United States and toward low-wage countries—textiles to Costa Rica, athletic shoes to the Philippines, steel to Brazil, electronic products to Malaysia, and so on. While many observers bemoaned the “hollowing out” of U.S. manufacturing, economists stated that high-skilled and high-wage white-collar jobs associated with the knowledge-based economy would stay in the United States. Computers might be assembled in Malaysia, so the argument went,…

Question 11 Use the AS/AD framework to show what happens to GDP and the price level in the short and long run following a permanent increase in government spending, when the country starts at potential GDP.What is likely to hannen to consumption, inyestment and net exports during the adjustment to the long run?

A big country with a good's demand described by P= 150 - 3Q and a good's supply described by P= implements a $8 tariff, which ultimately decreases the world price from $66 to $64. 40 + 20 (a) Calculate the total surplus under each scenario: no trade, free trade, and protected trade. (b) Calculate the distortion loss that is created by the tariff. (c) Suppose the tariff led to an increase in the current account, while primary budget deficit and private saving both increased as well. What happened to the economy's investment?

International trade has been a great boon for many countries and, in general, has been more beneficial for the world than not. However, there are both costs and benefits associated with international trade. Present and discuss two advantages of international trade and two disadvantages of international trade.  

Which statement about global trade in the present environment is true? -The World Trade Organization (WTO) in most of their rulings has taken the side of developing economies -Many of the current difficulties stem from the reluctance of the elites in most developed countries to listen to public concerns, resulting in a crisis of democratic governance, growing discontent and an anti-globalization mood _-Despite a global recession, global trade has been increasing by 15% per year. -The new Trans-Pacific Partnership signed by the will liberalize trade more than NAFTA -recent yearsthe benefits of trade liberalization have been distributed relatively equally

Question 2 Assume that the apple industry in Xanadu has been cut off from international trade until right now. Explain how the government opening their apple industry to trade will affect the country. Be specific. Also, be sure to consider the type of product that apples are  Full explain this question and text typing work only thanks

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External Economies and Losses from Trade The figure to the right shows curves representing the average cost of golf clubs produced in Scotland (ACS) and Malaysia (ACM) as well as the Malaysian demand (DM) and the world demand (Dworkd) for golf clubs. Price, Cost (per club) Assuming that Scotland's historical association with golf led it to first manufacture golf clubs, this figure indicates that Malaysia will import clubs from Scotland rather than produce clubs themselves since Malaysian producers can initially produce clubs O A. only after paying royalties to Scotland. Co O B. only with Scotland's permission. P1........ O C. at cost Co, which exceeds their price P, P2- ACS O D. at cost Co, which exceeds Scotland's price P,. ACM If no trade in golf clubs were allowed and Malaysia were forced to be self-sufficient, then Dworld DM O A. Malaysian golfers would suffer. O B. Malaysian golfers would benefit. Quantity of clubs OC. Malaysian club producers would go bankrupt. O D. Malaysian…

Read and analyze the Case Study and critically answer the questions belowhttps://ecipe.org/publications/european-union-policy-towards-free-trade-agreements/ i. What are the three (3) key motivations highlighted in the case study for the current EUFree Trade Agreements? ii. Why does the European Union (EU) have an explicit desire to promote regionalintegration in other regions of the world?

Case Study 1: Comparative Advantage and International Trade

Tariffs and other trade restrictions increase the domestic scarcity of products from abroad. Such policies benefit domestic producers of the restricted products at the expense of domestic consumers." This statement: Question 49 options:   contains one error; the trade restraints do not increase the scarcity of foreign-produced goods.   contains one error; domestic producers gain at the expense of foreign producers rather than domestic consumers.   contains two errors; trade restraints do not increase the domestic scarcity of product and neither do they harm domestic consumers.   is essentially correct.

Economics in Asia To present the environmental crisis due to industrialization - the causes and effect in Indonesia Word limit: 600 words First, carry out a brief research [based on reliable journals or publications] to explain how industrialisation can lead to climate change and escalated an environmental crisis in Indonesia - one in which also has spillover effects to her neighbouring countries in Southeast Asia Next, analyse how this environmental crisis can affect Indonesia AND her neighbours in the Southeast Asia region, in terms of trade competitiveness and long-term economic growth Any in text citations must be clearly supported with the references stated in the appendix list.

What economic impact have pandemics such as COVID-19, had on global trade? Include one example of correct use of all of the following in the short paragraph explaining what economic impact have pandemics such as COVID-19, had on global trade? Comma, Colon, Semicolons, Exclamations, Quote Marks, Apostrophes, Parenthese, Dashes, Hyphens.

Background Information Assume that you have been hired by an International Organization to be consulted on various issues that the country Motherland faces. For this exercise, assume that Motherland is a small agricultural economy. Part A. Assume that the biggest trading partner of Motherland is the United States. Unlike Motherland, the United States is a large industrial country. What type of trade model can best explain the trade between Motherland and the United States? Explain your answer in no more than 200 words.   Part B. Motherland imports electronics from the United States. The government of Motherland is considering to impose quotas on these electronics imports coming from the United States. Would you recommend it? Explain your answer. In your explanation, distinguish the effect on the consumers of electronics, the domestic producers of electronics and the government. Your explanation should not exceed 200 words.   Part C. The government of Motherland wants to jump start…

The failure of the Doha round of negotiation after many years has led to an increase in regional trade agreements. Using trade theory, discuss the effect of regional trade agreements in Africa and their potential in improving economic outcomes (employment, prices, etc.).

"Analyze the impact of trade tariffs on small economies, particularly focusing on import- dependent sectors. Discuss how tariffs can affect local businesses, consumer prices, and trade relationships. Additionally, evaluate the potential for retaliatory measures by trading partners and the long- term consequences on global trade dynamics and economic diplomacy."

The historic debate about the benefits and costs of trade liberalization (freer trade) continues today after centuries, and the pendulum of popular sentiment is swinging again.  It was once seditious to talk of free trade with other nations, but in more recent times the world has moved to lower barriers -up until mid-2018, when protectionism rose again. Clearly IDENTIFY one issue within the trade debate where two organizations differ on their stances about whether free trade is good or bad for society as a whole.

International trade policies: International trade policies refer to measures aimed at regulating the flow of goods and services between countries. In the case of a severe negative supply shock, the government may impose trade restrictions to limit the outflow of key inputs or to protect domestic producers. However, this can lead to higher prices for consumers and retaliation from trading partners, which can harm exports and further reduce supply. Explain with a graph please.

Which of the following aims to cushion domestic businesses and industries from overseas competition andprevent the outcome resulting from the inter-play of free market forces of supply and demand? Trade barriers Trade Protection Protectionism Dumping