Answered: Explain the various arguments countries…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter17: International Trade

Section: Chapter Questions

Problem 4.9P

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Similar questions

What is the national interest argument for protectionism with regard to certain products?
1. Clearly identify what is the EU - CARIFORUM EPA agreement and its contribution to trade anddevelopment in CARIFORUM countries. 5. Assess the social and economic benefits of the EU - CARIFORUM EPA agreement, Dutch disease,immigrants, suit case traders and Brexit.
3-What impacts, if any, the imposition of tariffs have on a nation’s Terms of Trade?
35. What are the conditions necessary for international trade to be mutually beneficial? a) absence of fraud and coercion b) reciprocal trade, meaning imports must also generate exports c) balance of trade, meaning the value of imports must equal the value of exports d) the trading parties must have different production possibilities frontiers e) trading parties must be able to calculate their costs and benefits  f) each country must be exporting the good in which it has an absolute advantage g) each country must specialize in the good of which it is the more efficient producer h) the trade does not cause some jobs to move to the other country
What are the conditions under which a country may use the unsafe products argument to block imports?
What are the two main sources of economic gains from intra-industry trade?
1. Which groups benefitted the most from China imposing an export quota on rare earth metals? Did it give the Chinese domestic manufacturers a significant cost advantage? Did it result in dramatically increased quality and environmental standards? 2. Given that 97 percent of rare earth metal production is now done in China, an increase from 27 percent to 97 percent between 1990 and 2010, do you think countries such as Australia, Canada, and the United States should reconsider their environmental restrictions on product of such metals? 3. The restrictions imposed by China on rare earth metals has resulted in some companies (e.g., Toyota, Renault, Tesla) starting to look for alternatives. They plan to use parts that do not include rare earth metals. Is this a good solution?
A6 b4. Elaborate on any four current external risks that may affect trade activity of Singapore.
13. The conditions necessary for international exchange to be mutually beneficial include: a) government protection of domestic industry against unfair foreign competition b) the absence of coercion and fraud and the ability to calculate costs and benefits c) no transaction costs d) all the above
6. Which of the following considerations need not lead to in-country distribution effectsfrom trade?A. Labor markets display significant frictions.B. Capital may be industry-specific.C. It takes time to learn new skills.D. Wages and productivity in one country are much higher than in its trading partner.
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.
1. What is the Impact of COVID-19 on Trade in case of Pakistan,

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Explain the various arguments countries used to justify the imposition of tariffs in context of Covid 19