International trade  Why would a country opt for free trade when some workers remain unemployed in the import-competing sector? Given the real wage rate in Thailand is higher than that in Bangladesh, how would international trade affect real wages between them under a perfectly mobile labor movement?

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…

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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: The case for free trade is strong but the losers need more help. Which statements below are true?…

A: Many analysts have focused on the economic hardship that will be felt by both sides as a result of…

Q: In context of international trade, explain import-substitution and export-promotion policies.  Which…

A: Globalization means integrating an economy with the world economy. Globalization promotes…

Q: Question 3 If specialization and outsourcing can harm domestic workers, why do countries still…

A: Answer Explanation Since specialization means a country can produce the same goods with less…

Q: Brazil Mexico Soya per unit of labor 0.05 0.02 Corn per unit of labor 1.25 1.40 At what…

A: According to the question, the comparative advantage for the per unit of labour given between…

Q: how does moving towards full employment affect a country’s trade competitiveness?

A: In an undeniably market-driven worldwide economy, a public economy should be serious to create and…

Q: Case: Moving U.S. White-Collar Jobs Offshore Economists have long argued that free trade produces…

A: White-collar job: White collar work belongs with a class of representatives known for acquiring…

Q: Suppose the UK and Canada produce bread and cars using labor. These goods are produced based on the…

A: Part a: Here using 1350 labours Canada can produce either 15(1350/90) cars or 270(1350/5) bread. And…

Q: Why would a country opt for free trade when some workers remain unemployed in the import-competing…

A: Even if some of the employees in the competitive sector remain unemployed, free trade can benefit…

Q: trade

A: As trade barriers are eliminated, certain goods may be cheaper to obtain overseas than to make…

Q: Suppose there is an increase in labor in a large country. What are the effects on growth, trade, and…

A: A "welfare state" is a form of governance in which the national government has a significant…

Q: Country A is increasing tariffs on steel imports to protect country A's local steel industries. How…

A: Exchange strategy is the arrangement of arrangements, guidelines, and practices by an administration…

Q: Will cheap foreign wages alone make production in a foreign country (with the low wages) profitable?…

A: Production activity requires the conversion of inputs into finished and valuable goods and services.…

Q: D7) Much of the growth in Southeast Asia is due to ________, and many African nations have based…

A: When comparing the economic growth of different nations, it can be seen that the drivers of economy…

Q: Consider two countries (Spain and Romania), two goods (textiles and cars), and two factors of…

A: Free Trade: Free trade indicates the trade between two nations or countries without any barriers…

Q: Complete the table below for the home country. (A positive number for trade indicates exports, a…

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Q: If specialization and outsourcing can harm domestic workers, why do countries still engage in trade?…

A: A country specializes in the good which it can produce at a lower opportunity cost than the other…

Q: With free trade, why is wage (income) gap between American skilled and unskilled workers widened?…

A: Part A → As country A is using skilled laborers for the production of expensive products at the same…

Q: Explain the comparison of the potential and actual effects of government intervention on the free…

A: Necessary actions that are taken by the government which change the decisions made by a person or…

Q: jobs  for  British  work-ers,”  the  French  president  urged  French  car  compa-nies  to  invest…

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Q: What are the overall benefits from trade and specialisation?

A: The transfer or movement of goods and services from one country or entity to another in exchange for…

Q: free trade, whereas others are unhapppy, even angry, that the government has reduced regulations on…

A: Trade restriction refers to the restrictions imposed on the cross-border trade between countries.…

Q: international trade Consider a Ricardian model with two countries, the US and Ecuador, producing…

A: Comparative advantage occurs when one country is able to produce a particular good at a lower…

Q: American firms outsource many jobs to other, lower cost countries. How can this outsourcing actually…

A: Hey, Thank you for the question. According to our policy, we can only answer 1 question per session.…

Q: Donald Trump's presidency re. 'Make America Great Again' is all about tariff increase, trade…

A: Economic theory is the notion of how the economy should work. In different conditions, different…

Q: What is meant by complete specialization and incomplete specialization? Why do both nations gain…

A: The trade involves the exchange of the goods and services. The trade results in the export and the…

Q: Producing socks is labor-intensive, while producing satellites is capital-intensive. If India…

A: When two countries involve in trade, one country ‘export’ that good in which it has ‘comparative…

Q: Has globalization (i.e. global capitalism/trade) had more of a positive or negative impact on…

A: Yes, globalization has both negative and positive impact on the society. For the developed and rich…

Q: Labor is relatively abundant in Mexico comparedwith arable land. Explain who wins and who losesin…

A: NAFTA applies to the open trade agreement between the United States, Canada and Mexico in North…

Q: 7. According to the Stolper-Samuelson theorem, when a labour-abundant country opens up for free…

A: Stolper-Samuelson theorem is an extension or Heckscher Ohlin model of international trade.

Q: The world’s poorest countries are at a competitive disadvantage in every sector of their economies.…

A: Comparative advantage is the ability of an economy to produce goods and services are lower…

Q: What trade has changed? Does the U.S. still maintain the world's dominant power? Why has the world…

A: International trade refers to the exchange of goods and services outside the domestic boundaries of…

Q: Choose a developing country that is starting to participate in global trade. Describe how economic…

A: Developing country is a country that has a low gross domestic product (GDP) and has got areas that…