Answered: Discuss some advantages of exporting?

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Economics

Discuss some advantages of exporting?

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains Rrom Trade

Section: Chapter Questions

Problem 6QR

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Why does the United States not have an absolute advantage in coffee?
34. To obtain good A in which one does not have a comparative advantage, it is better to acquire it by "indirect production" – producing good B, in which one does have a comparative advantage, and trading it for good A. True False False
4. Notice that there is little mention of the U.S. importing food or agriculture. What does that say about America’s farmers? 5. Why do so many of Mexico’s and Canada’s exports go to the U.S? What problems could that create for their economies?
7. With one hour of work, a Canadian worker can produce 2 tons of wheat or 5 barrels ofbeers. With one hour of work, a German worker can produce 1 ton of wheat or 3 barrels of beer.Which country has the comparative advantage in producing beer?A. GermanyB. CanadaC. Neither countryD. There is not enough information to know.
4. ‘The world’s poorest countries cannot find anything to export. There is no resource that is abundant, certainly not capital or land, and in small poor nations such as Guatemala, not even labour is abundant.’ Discuss (assume Guatemala is the poor country and United states is the rich country)
10 24. Suppose a small country experiences economic growth that leads to an increased willingness to trade. The country's terms of trade will _____ because the prices of its exports will_____ relative to the price that it has to pay for its imports.
9 How free trade zones or special economic zones affect exports.