A point above the Production Possibility Frontier line: A. Can potentially become feasible through trade/exchange B. Can potentially become feasible through economic growth C. Both A and B D. Can never become feasible
Q: Free trade always helps the exporting country at the expense of the importing country. True O False
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A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a…
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A:
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A point above the
Production Possibility Frontier line:A. Can potentially become feasible through trade/exchange
B. Can potentially become feasible through
economic growth C. Both A and B
D. Can never become feasible
Step by step
Solved in 2 steps
- Trade creation results in? Select one: a) Greater revenue for the government b) Reduced exports c) Goods formerly produced domestically now imported d) increased tariffs e) Decreased productionsIf nations begin to specialize in production for the purpose of trade, a. the utility from consumption will increase, but not the total output. b. total world output will increase, as well as well-being from consumption. c. the impact on total output and well-being cannot be predicted. d. neither total output nor well-being from consumption will change. e. total world output will increase, but well-being from consumption will not.World production will be greater when there is-------. Select one: a. non-specialisation and self-sufficiency b. trade and specialisation c. self-sufficiency and specialisation d. trade and non-specialised production
- With the opening of trade we would expect that the relatively abundant factor of production would earn... A. an increased relative return B. a decreased relative return C. UncertainZ and S.A are trading partners. Both produce metal ores (including lithium) and delivery trucks. Now suppose that if Zimbabwe uses all of its resources, it can produce 50,000 tons of metal ores or 100,000 delivery trucks (trading off at a constant rate). Suppose that if South Africa uses all of its resources, it can produce 20,000 tons of metal ores or 80,000 delivery trucks (trading off at a constant rate). What is the direction of the trade (who exports what to whom)? Be sure to give the opportunity costs of production of both goods for both countries.The world’s poorest countries are at a competitive disadvantage in every sector of their economies. They have little to export. They have no capital, their land is of poor quality; they often have too many people given available work opportunities; and they are poorly educated. Free trade cannot possibly be in the interests of such nations. Discuss.
- Q) Which statement is true of natural resources in terms of global trade or a country’s economy? a. Steep declines in the price of oil had a negative impact on America’s oil producers. b. The past decade has witnessed the discovery of an abundance of natural resources. c. Petroleum is the only natural resource that affects international marketing. d. Vast differences in natural resources result in minor shifts of wealth among countries. Give me correct explaination and not copy paste anything from anywhere.in term of trade negotiation between capital rich nation and labor rich nation which one would resist?Which of the following statements is(are) FALSE?I. Trade creation is always bad for countriesII. Trade diversion is always good for countriesIII. Regional trade agreements never cause welfare losses A. I, II, and III B. II C.III D. I
- Production possibilities of the United States (USA) and South Africa (RSA): USA RSA wheat (bushels/hour) 4 1 cloth ( meters/hour) 3 2 Plot the production frontiers of the United States and South AfricaA country should specialize in producing the goods for which a. it has the highest opportunity cost. b. it has an absolute advantage. c. it can produce a larger quantity than any other country. d. it has a comparative advantageinternational trade Consider a Ricardian model with two countries, the US and Ecuador, producing two goods, bananas and machines. Suppose the unit-labor requirements are: aLBUS= 8, aLBE = 4, aLMUS = 2, aLME = 4. Let the US have 3200 workers and Ecuador have 400 workers. a. What would the pattern of trade be in free trade? Why?
