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- 2. Assess all the statements below and judge which of them is true and which is false.Provide a short justification for your assessment.According to the Ricardian model…a) …if only one of the countries have an absolute advantage, there is no reason for beneficialtrade.b) …if each country has a comparative advantage, there is a reason for beneficial trade.c) …if each country has a comparative advantage, to benefit from trade each country shouldspecialize in consumption and trade of the good in which they are comparatively more efficient.d) …if countries having comparative advantage engage in trade, there will be a net positive economic effect, but the distribution of the benefits might be uneven.e) …if countries having comparative advantage engage in trade, each country will equally benefitfrom trade.In Germany in 2009 there was considerable debate about the extent to which thegovernment should be intervening in the economy. For example, its citizens were worriedabout the future of Opel, a German car brand that was part of the ailing General Motors.Some wanted the government to make sure jobs were saved no matter what. Others,however, were more hesitant and worried about becoming the government becoming toointerventionist. Traditionally since the Second World War the German government hasseen itself as a referee in market issues and has avoided trying to control parts of theeconomy. It would regulate anti-competitive behaviour, for example, but not try to runmany industries. However in the recession of 2009 when the economy was shrinking thegovernment was forced to spend more to stimulate demand and had to intervene heavilyto save the banking sector from collapse. The government also had to offer aid tobusinesses to keep them alive. 1. What are the possible benefits of a…In Germany in 2009 there was considerable debate about the extent to which thegovernment should be intervening in the economy. For example, its citizens were worriedabout the future of Opel, a German car brand that was part of the ailing General Motors.Some wanted the government to make sure jobs were saved no matter what. Others,however, were more hesitant and worried about becoming the government becoming toointerventionist. Traditionally since the Second World War the German government hasseen itself as a referee in market issues and has avoided trying to control parts of theeconomy. It would regulate anti-competitive behaviour, for example, but not try to runmany industries. However in the recession of 2009 when the economy was shrinking thegovernment was forced to spend more to stimulate demand and had to intervene heavilyto save the banking sector from collapse. The government also had to offer aid tobusinesses to keep them alive. 1. What prompted greater intervention by the…
- Which of the following is not one of the three central coordination problems of the economy given in the book? a. What. b. Whether. c. For whom. d. How.taxation is an essential fiscal policy tool for mobilizing resources for socio-economic development and in particular middle country such as Ghana. Discuss?Discuss whether or not all govrnments will have the same economic aims
- What is the prediction of Ricardian Model with regard to trade in the real world?What are some important comments on the economic impact of another Covid relief package. Do we need it? How can it stimulate the economy?What is the prediction of Ricardian Model with regard to trade in the real world? Explain,Is there any empirical evidence to support the prediction of Ricardian Model?
- What is Ricardian equivalence? Give at least three reasons Ricardian equivalence mightnot correctly describe an economy.Ricardian equivalence: Suppose that the government fears the economy mightbe heading into a recession and decides to cut income taxes today in an efortto prevent the recession.What would happen in Ricardian model and the Heckscher-Ohlin model, a) If one country tried to export more to the other country? b) If one country restricted the amount of imports from the other country? c) What does this imply for trade policy? Please answer correct explain plz asap plz Don't answer by pen paper plz