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- Which country has comparative advantage in the production of washing machines and automobiles?How big are exports and imports as a percentage of current GDP?Give typing answer with explanation and conclusion According to classical economists, instead of mercantilism, which says countries should produce everything themselves, what should countries do? a. Use tariffs to protect local industries b. Create an organization that dictates how countries should trade c. Specialize in producing what they are good at producing, and import other goods d. Engage in trade wars to try to gain an advantage
- Why do countries produce local goods when it is cheaper to importc ) After trade , if Canada still wishes to have 90 bushels of wheat , how many more DVDs could it have ? e ) If Japan still wishes to have 15 DVDs , how much more bushels of wheat could it have ?I’m what way did world economic patterns and growth change as Latin America became more integrated into the world economy?
- With the information on top, look at question F. Tell me why Liz has comparative advantage over mike in cleaning windows when mike has comparative advantage in picking up leaves? Shouldn’t it be mike for both of them?If a country produces more food and electronics than another country does it have a comparative advantage?At one point Canada’s GDP was $1,800 billion and its exports wer e $542 billion.What was Canada’sex portratio at this time?