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- How does comparative advantage lead to gains from trade?Under what conditions does comparative advantage lead to gains from trade?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.
- A semiconductor is a key component in your laptop, cell phone, and iPod. The table providesinformation about the market for semiconductors in the United States. Producers ofsemiconductors can get $18 a unit on the world market.a. With no international trade, what would be the price of a semiconductor and how manysemiconductors a year would be bought and sold in the United States?b. Does the United States have a comparative advantage in producing semiconductors?c. Draw a graph (graph is for your own reference, not required to be attached in the answersheet) to illustrate the U.S. supply and demand market for semiconductors. What is the pricewith free international trade? What is the quantity of semiconductors produced in U.S. andtotal quantity bought by U.S. people and the quantity exported from other countries?d. Due to loss of competitiveness brought on by appreciation of the exchange rate and the highproduction costs, U.S. government reduce the export (or limit the supply of…11. Which of the following statements is FALSE? a) This model shows only half of the benefits from trade because it ignores return trade. b) Producers in country 1 gain more than consumers in country 1 lose. c) Consumers in country 2 gain more than producers in country 2 lose. d) International trade causes a net increase in unemployment.INTERNATIONAL TRADE The Chinese town of Qiaotou produces 60 percent of the world’s buttons. One problem is that Qiaotou is a relatively small village and its production is carried out by small, family-owned businesses. What does this tell you about the comparative advantage versus the external economies in the production of buttons? Explain.
- 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.NEWS WIRE NORTH KOREA'S ROCKETS DEEPEN FOOD CRISIS North Korea's Rocket Launches Cost $1.3 Billion North Korea's rocket program is costly. In December 2012 North Korea successfully launched a long-range rocket carrying a satellite into space. That feat cost $300 million. The entire cost of the rocket program last year - including the failed launch in April - totaled about $1.3 billion according to estimates by South Korea experts. With that much money North Korea could have purchased 4.6 million tons of corn - enough to feed its population for 4-5 years. North Korea's ambitious nuclear program costs nearly triple that amount. The burden of North Korea's military program is evident in widespread poverty and periodic starvation. Source: News accounts of December 2012 - January 2013. According to the News Wire, what is the opportunity cost of North Korea's rocket program in terms of corn for North Korea's 25 million people? million tons of cornThe table above shows the daily production possibilities for China and Malaysia in producing trucks and coffee using the same amount of resources. Based on the data provided, which of the following terms of trade are mutually beneficial for the two countries? A. 1 ton of coffee for 3 trucks B. 1 ton of coffee for 4 trucks C. 1 ton of coffee for 5 trucks D. 1 truck for 1 ton of coffee E. 1 truck for 5 ton of coffee
- 15. Data and empirical observations have validated the fact thata. Sectors specific to export industries tend to lose from international trade, while sectorsspecific to import-competing industries tend to gain.b. All sectors tend to lose.c. All sectors tend to gain.d. None of the above is true.Suppose there are two countries for analyses, the United States and Indonesia. Assume that 2000 man hours are available in the United States and 36000 in Indonesia. The following table provides information on how many man-hours are needed to produce one unit of the same goods. Indonesia United States Cloth 50 3 Machines 100 5 2.5 Indonesia is a developing country and the United States a developed country. Do you think Indonesia benefits from trade with the United States? What should the trade ratio be for Indonesia to benefit from trade.Refer to Table 1-1 Which country has a comparative advantage in the production of bread? Group of answer choices Derryland Whetonia
