1. Over the past few decades, East Asian economies have increased their share of world GDP. Similarly, intra-East Asian trade – that is, trade among East Asian nations – has grown as a share of world trade. More than that, East Asian countries do increasing share of their trade with each other. Explain why, using the gravity model.

Q: a. Define the gravity model. Specify the variables utilised. b. Apply the gravity model to India and…

A: Answer a.  In international economics, the gravity model of international commerce is a model that…

Q: (plus symbols) represent three possible output levels in a given month. You can click on the points…

A: A  (PPF), creation probability bend (PPC), or creation probability limit (PPB), or change…

Q: What are the impacts of these changes (various economic, social, and political changes that occurred…

A: Jose Rizal was a physician and novelist, brought into the world in the Spanish state, Filipinas as a…

Q: Give an example of a GVC (Global value chain)

A: Global Value Chains mean that production and trade is occurring within a network of industries that…

Q: The visit of foreigners in India to see the various places/events in the country, amounts to which…

A: Export means produced in the domestic territory and sold to foreign countries or nationals. While…

Q: That a rich country like Germany has such a small ratio of imports to GDP as compared to Belgium is…

A: Germany has the most significant gross domestic product (GDP) generated by the industry in the G7…

Q: Question 1 Using a production possibilities frontier (PPF) diagram, determine how does the PPF…

A: Since you have posted multiple questions, we solve the first one for you. If you want any specific…

Q: Suppose that there are two countries; Country 1 and Country 2. Country 1 is capital abundant and…

A: Country A is K abundant Country B is labor abundant   Good X is capital-intensive Good Y is…

Q: 1) Why does the gravity model work? A) Large economies became large because they were engaged in…

A: The correct answer is given in the second step.

Q: The island of Hispaniola, located in the Caribbean, is divided roughly in half by the two countries…

A: Per capita GDP refers to the total output of a country divided by its population. It is the value of…

Q: Founded in 1975, the  Group of Seven (G7) is an inter-governmental political forum consisting of…

A: Group of Twenty, is a multilateral forum made up of 19 countries and the EU. It focuses on…

Q: The gravity model is frequently used to explain why two countries do not trade. Give examples and…

A: The gravity model of trade states that with more distance between countries, the possibility of…

Q: The gravity model is often used to not only explain trade between two countries, but also to…

A: Gravity model is gotten from material science and is utilized to clarify the reciprocal progression…

Q: assertion of the Lewis Model is that economic growth and industrialization will take place backed by…

A: (1) The first and most significant is that assuming marginal efficiency of worker in rural area is…

Q: 1. Economic growth around the world The following table reports real income per person for…

A: The question above lists economies of 6 countries Australia, Finland, Ireland, Thailand, Pakistan,…

Q: Ricardo Model: Suppose there are two countries, Home and Foreign, that produce two goods, fish (F)…

A:

Q: 6. Consider a Ricardian setting with two countries but many goods. Use a diagram to illustrate the…

A: Introduction Comparative theory of international trade has discovered  by David Ricardo in  1817. It…

Q: B1: Suppose Nepal begins to manufacture fertilizers.  Explain the impact of the     discovery of…

A: PPF: It shows the various combinations of the amount spend by the consumer on the various goods. It…

Q: the economy is at point D,     a) more can be produced of both X and Y, without an increase in…

A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…

Q: Discuss the assumptions of the new economic theories and explain the implications of the new…

A: Economic theories have been formulated since ages. However, the theories also underwent a process of…

Q: Imagine that you just paid $50 for a new pair of jeans. According to the circular flow diagram, what…

A: First question talks about Circular flow diagram.  Circular flow diagram shows organization of an…

Q: What are the advantages and disadvantages for a country to implement economic planning?

A: Since you have asked two questions, I am answering the first one for you. Economic planning refers…

Q: Determine if the following statement is normative or positive: The government expenditure towards…

A: A normative statement is one that truly involves assessment, perhaps an issue of morals, something…

Q: 6. How do Marxist and Neo-Marxist models explain the reasons why the underdeveloped countries cannot…

A: Marxist theory: In his book Das capital published in 1867 Karl marx argues that a country is…

Q: Which of the below statements is INCORRECT about about a specific market economy such as the U.S.…

A: In a market economics government bureaucrats direct everything from a number of bars of soap a…

Q: Suppose you are watching a news report with a friend. The news report points out that a certain…

A: The GDP per capita is measured by dividing the Real GDP of the country by the total population. The…

Q: 3.What are the economic benefits of construction? How does the construction industry affect the…

A: Economic benefits of construction CCommercial buildings cause real estate and infrastructure to…

Q: INSTRUCTION Given the following data for the year 2020, compute for the: Birth rate Death rate…

A: GIVEN: Live births = 300 infants Still births = 5 infants Deaths before 1 month old= 15 infants…

Q: The South Korean Economy in the 1970s faced a choice between Consumption and Investment. This…

A: The three economic problems which any economy faces are: (i) The needs of the human beings are…

Q: While explaining the given statement with a form of an example (table), state the most economical…

A: The factors used in production activities can be of two types – variable (labor) and fixed (land).…

Q: Assuming Portugal has 180 man-hours (mhrs) of labor resource available for production, and labor is…

A: Opportunity cost is the benefit that is derived from the not chosen alternative.

Q: A complete macroeconomic model would not like include the following market A- labor B- capital C-…

A: Underground market is also known as black market i.e. illegal business of buying and selling of…

Q: 2. Which of the following is FALSE? none of these are false Poor Americans have more living space,…

A: Here, the primary concept behind the given statements is the poverty in America.

Q: onsider the production productivity matrix of two goods from the US and India:   United States of…

A:

Q: Suppose that, in an imaginary country, the last decade witnessed a flow of employment from coal…

A: Given that in an imaginary country, in the last decade there was a flow of employment from coal…

Q: 15 - According to the graph, for this economy, an increase in the quantity of capital goods produced…

A: Production possibility curve shows all the combination of two goods which can be produced with the…

Q: If Bishan wants to capitalize on comparative advantage in his life, then he should: produce either…

A: Comparative advantage is when a trader is able to produce goods and services at a lower opportunity…

Q: How can an economy increase the production of one good without reducing the production of another?…

A: To determine the factors resulting in increased production of one good without affecting the…

Q: East Asian economies have expanded their proportion of global GDP over the last few decades.…

A: ASEAN is a trade organization of East Asian countries. It stands for Association of South East Asian…

Q: Which of the following statements is the best articulation of Malthusian dynamics? (A) “Technology…

A: In economics, economists developed theor specfiic findings and they use.some assumptions to prove…

Q: 1)What are the matters directly related to comparative economic systems? Discuss whether different…

A: Disclaimer:-  Since you posted a multiple questions  we are solving the first one .         We know…