How important is international trade to the U.S. economy? In terms of volume, does the United States trade more with the industrially advanced economies or with developing economies? What country is the United States’ most important trading partner, quantitatively?

Q: When comparing the composition of world trade in the early 20th century to the early 21st century,…

A: Here we need to explain the terms of broad historical developments during this period : Between 20th…

Q: Which is better policy? Trade liberalization or trade protectionism? why?

A: Trade refers to the activity where countries exchange goods and services with each other in the form…

Q: How would you define and explain the balance of payments, and how this concept affects the ability…

A: Global trade: It means the import and export of goods and services across international boundaries.

Q: Why is the net gain from international trade positive?

A: gain from international trade is positive because in the import market the increase in consumer…

Q: Do you think it is important for the Philippines to join a trade organization? Why or why not?

A: The World Trade Institution (WTO) is the sole international organisation that deals with global…

Q: What are the mutually beneficial terms of trade, measured in units of wheat from Country A per unit…

A: First calculate the opportunity cost for country A. Opportunity cost of country A for textiles =…

Q: what are the key factors that led to President Trump’s imposition of tariffs on Chinese steel and…

A: Trade: Exchange is an essential financial idea including the trading of labor and products, with pay…

Q: Imagine you are an advisor to your government and that your economy faces a problem of declining…

A: The terms of trade deterioration mean that the price of the exports of the goods and services from…

Q: As measured by the amount of trade it does, has the U.S. economy become more internationalized?…

A: The main reasons for the U.S. economy to become more internationalized are the increase of foreign…

Q: According to YOUR thinking, which kind of trade is more beneficial for an economy, liberalized trade…

A: According to me, liberalized trade is more beneficial for an economy. Trade liberalization is…

Q: What factors determine a country’s level of trade? What is the difference between the balance of…

A: A country's balance of trade is an important component of its balance of payments and a key…

Q: Assume that you were a small country, what would you rather have a comparative or absolute advantage…

A: Absolute advantage: This concept was introduced by 'Adam Smith' and according to him, international…

Q: how do trade agreements affect the US economy?

A: Trade agreements are defined as contractual agreements between states or countries concerning their…

Q: Is the statement “When a country joins the World Trade Organization, it gives up all of its ability…

A: World Trade Organization: The World Trade Organisation is an organisation which have been set up for…

Q: How was the trade situation between Northern Ireland and Republic of Ireland before the European…

A: The UK-Ireland border has had a special status since the Belfast Agreement/Good Friday Agreement of…

Q: Quantitatively, how important is international trade to the United States relative to other nations?

A: International trade is the process of exchange of goods and services between different trading…

Q: How do international trade agreements help businesses in the U.S.

A: When two or more nations finalize and are on the same terms of trade, they determine the tariffs…

Q: Discuss the role of foreign exchange in international trade.

A: The measure which depicts the value of one currency in terms of another currency is known as the…

Q: In the last 50 years, international trade has grown O rapidly because of fewer trade barriers. O…

A: International trade refers to the exchange of products and services among the people of different…

Q: Imagine the following case study where two different countries: Albania and Belize have remained…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Now suppose that a country is experiencing balanced trade. Determine the relationships between the…

A:

Q: If the United States produces 8 automobiles and Canada produces and Canada produces 2 automobiles,…

A: Comparative advantage is when the country possesses a lower Opportunity cost(OC) in producing a…

Q: Does the US import more ($ value) than it exports or does the US export more than it imports? Is…

A: The US imports more than it exports. In 2018, the US exports were, $2.5 trillion and US imports were…

Q: List and explain 5 international trade issues that you know?

A: The transfer of goods and services from one country to another is known as international trade. This…

Q: Why has trade grown much faster than GDP for almost all countries since 1950? Give 3 reasons

A: The value associated with all the final goods and services produced in an economy in a period is…

Q: Which of the following rule/s is/are WTO’s responsibilities? * a)All Rules regarding trade finance…

A: WTO is a forum for governments to negotiate trade agreements to settle trade disputes.

Q: What are the difference of the modern theory of international trade vs classical theory

A: The modern theory holds that trade between two countries occurs only when their factor endowments…

Q: If the United States produces 8 automobiles and Canada produces 2 automobiles and the United States…

A: Opportunity cost is the cost that is foregone in order to make a choice.

Q: Imagine the following case study where two different countries: Albania and Belize have remained…

A: Its very easy to do part B(specifically) Since we have given the marginal product of labor MPL( that…

Q: Explain what may cause a deterioration of the terms of trade. 

A: The proportion of a nation's export prices to its import costs is known as terms of trade (TOT). To…

Q: Are technical regulations in different countries equal and constitute they barriers to trade? Which…

A: A technical regulation is a Government document that lays down product characteristics or their…

Q: How have the different approaches toward international trade by Ghana and South Korea changed the…

A: GIVEN    the different approaches toward international trade by Ghana and South Korea changed the…

Q: Most of the time of its history, Pakistan has faced trade deficit. Would you like to point out…

A: In the initial 11 months of 2016-17, Pakistan's trade deficit crossed a historic level of US$30…