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- In Exercise 33.31, is there an ask where Venezuelans may say no thank you to trading with Canada?Why might Belgium, France, Italy, and Sweden have a higher export to GDP ratio than the United States?For large countries an import tariff will deteriorate the terms of trade with other countries. True False
- True/ False The international Trade provides better and new products to the consumer of an economy.Dumping a) always lead to the decrease in world welfare b) is considered unfair by the rules of the WTO c) is the situation when a firm exports good at a higher than domestic price or at a price higher than its average costs d) always leads to negative profits of a firmBoth countries agree that one tonne of steel can be exchanged for one tonne of oil. Calculate the gains after trade is allowed if Country A consumes 30 tonnes of oil domestically.
- Dumping means selling goods in a foreign market at lower prices than those charged in the home market. True FalseWhen an American purchases a German good or invests in Germany, Euros currency is supplied and U.S. dollars are demanded. True FalseTrue/False International trade leads to a increase in the competition in the market.
- The US exports $10 billion worth of inorganic chemicals to Germany and imports inorganic chemicals from Germany for the same dollar amount. Japan imports $1 billion of garments from Indonesia, but does not export any to Indonesia. The measure of intra-industry trade between Germany and the US first, and between Japan and Indonesia second are respectively... a. 0.5 and 0.5 b. 1 and 0 c. -1 and 1 d. 0 and 1Which country will be exporting and importing which product? A) England will be exporting both wine and cloth B) Portugal will be importing wine and importing cloth C) Portugal will be exporting cloth and importing wine D) England will be exporting wine and importing cloth E) None of the aboveRequired: Both countries agree that one tonne of steel can be exchanged for one tonne of oil . Calculate the gains after trade is allowed if Country A consumes 30 tonnes of oil domestically