Answered: Is the statement true or false? "The…

Is the statement true or false? "The existence of regional economic integrations is well aligned with the principle of non-discrimination of the WTO"

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter28: International Trade

Section: Chapter Questions

Problem 4P

See similar textbooks

Related questions

Q: Is globalization in the social interest? Please support your answer with good discussion points.

A: The economies around the world are coming together and are integrating with each other. each economy…

Q: Explain Pull and Push(Lack of infrastructure,public facilities and Good of infrastrusture) factors…

A: Migration refers to the permanent or semi-permanent movement of people from one place to another. It…

Q: The World Trade Organization is controversial because it is dominated by small, developing nations.…

A: The world trade has been said to be unfair by the small and developing nations, because it caters to…

Q: ) Suppose that the figure below shows the returns to skills in a source and destin ountry. Discuss…

A: The labor economics aspect is the investigation of the workforce as a component during the time…

Q: For each of the following regional economic integration agreements, identify what is allowed to move…

A: Free movement: It means the right of people and goods to move between countries.

Q: what is the 'Infant Industry' economic argument that supports the need for government intervention…

A: Infant industry argument was significant in international trade where the small or new entrants are…

Q: Examine how the the African Continental Free Trade Area (AfCFTA will impact participating African…

A: Trading: The demonstration or interaction of purchasing, selling, or trading products, at one or the…

Q: All the followings are likely to be developing countries' comparative advantage for trade EXCEPT OA.…

A: Developing countries are those countries that have still not reached a level of per capita income,…

Q: The two highest levels of economic integration are: a)Customs union and common market. b)Customs…

A: Economic integration is a pact between countries that usually entails the removal or lowering of…

Q: What has changed in our communities because of global migration?

A: The transfer of people from one place to another is commonly coupled with a change of permanent…

Q: Is it legitimate to impose highe rsafety standards on imported goods that exist in the foreign…

A: International trade refers to the trade or the exchange of goods and services from one country to…

Q: The WTO discourages the use of quotas because they are:

A: World trade organization is the international organization which deals with the rules and…

Q: A. DEMOCRATIC PLANNING 06 B.PLANNING DEVELOPMENT It is applicable to economies whose at least 15% of…

A: The economies around the globe are involved in the growth, and development practices, as there focus…

Q: should nation-states relinquish responsibility for the social reproduction of migrant labor? Why or…

A: Protecting and assisting the poor and vulnerable, such as children, women, the elderly, people with…

Q: The least integrated category of economic integration is O a. A customs union O b. An economic union…

A: Trading is a process that takes place when two or more countries exchange goods and services with…

Q: ONE DISADVANTAGE OF REGIONAL ECONOMIC INTEGRATION IS THE POSSIBLE LOSS OF NATIONAL SOVEREIGNTY.…

A: Economic integration is a treaty between countries that involves the elimination or reduction of…

Q: Will an economy benefit from net immigration?

A: Immigration refers to the shifting of people from other country to domestic country for the purpose…

Q: What is the difference between Specific Factor trade model and the Ricardian model in terms of…

A: The Ricardian model explains why countries engage in trade even when one country's workers are more…

Q: oved on trade among membe h nation retains its own barrier ith non-members. preferential trade…

A: There are a few phases during the time spent economic integration, from an exceptionally free…

Q: Before WWI O A. labour mobility was lower than today because transportation was more expen O B.…

A: Option A: labour Mobility was lower than today because transportation was more expensive.

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: The World Bank report says that global income inequality has been aggravated after the globalization…

A: Globalization can sometimes lead to wage/income inequality particularly in a rich country. As the…

Q: Is the statement correct? If yes, why? “International trading system is biased against developing…

A: International trade refers to the exchange of goods and services between two or more countries.…

Q: Out of all levels of economic integration what is the most beneficial and the most unfair? Why?

A: Economic integration is an agreement between countries that usually entails the removal or…

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: What strategy will help boost economic development of the country; is it import substitution or…

A: Import Substitution- It is a policy adopted by the nation to reduce imports and to decline…

Q: How do i explain this

A: Learning-by-doing is an economic theory principle that states that efficiency can be increased…

Q: International factor movements can sometirnes substitute for trade, so it is not surprising that…

A: The worldwide flow of people to a new destination where they are not natives or citizens in order to…

Q: Does free international trade contribute to the global fight on poverty. Discuss.

A: The transfer of services and goods from one entity or person to another, being in exchange for money…

Q: Considering the perspectives of Marilyn Waring and Leanne Betasamosake Simpson, how does economic…

A: In the economic activity and perspective during the Marilyn Waring and Leanne Betasamosake Simpson…

Q: What is the connection between international factor mobility and foreign trade?

A: International trade refers to the phenomenon in which the international parties get involved in…

Q: How does Trade and Development Report 2012 describe impact of globalization on income distribution?

A: Globalization is the phenomenon that describes inter-connectivity of countries connecting them in…

Q: Refugees seeks temporary protection to a foreign land because of certain internal conflicts in their…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: In order for for a country to be able to find jobs for its huge population and hence a huge labor…

A: The nation shall also respond to the taste and preference of the employer. It means that the labour…

Q: Provide one example of political contribution of regionalization to globalization. Justify your…

A: In macroeconomics, the production and allocation decisions regarding an entire country or economy…

Q: NAFTA is Select the correct answer below: O an economic union O a common market O a regional free…

A: NAFTA stands for North America Free Trade Agreement that was implemented to promote free trade…

Q: With the advent of globalization and the WTO operations, which of this is happening or have…

A: The answer is - d. Free-Market Analysis

Question

Is the statement true or false?

"The existence of regional economic integrations is well aligned with the principle of non-discrimination of the WTO"

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Out of all levels of economic integration what is the most beneficial and the most unfair? Why?
When countries do not integrate or join trade organizations, they experience income inequality and low income distribution. Why is this the case?
What is the difference between Specific Factor trade model and the Ricardian model in terms of income distribution within the trading countries before and after trade?
What is the BRI trade effects on poverty on different regions?
How has that migration of labour been of advantage to other countries?
"Free trade cannot be said to be beneficial to all sections of a trading nation. As such, it is necessary for it to be accompanied by an income redistribution policy." Discuss
Consider two countries (Spain and Romania), two goods (textiles and cars), and two factors of production (skilled and unskilled labor). Romania is relatively abundant in unskilled labor, and textiles are relatively intensive in the use of unskilled labor. Both countries use the same technologies. Assuming such high tariffs that goods are non-tradable, which group will be in favor of free migration? Do you consider allowing labor mobility as a close substitute to free trade?
What are two economic impacts of assistance from international economic institutions on South Africa ? Please explain in depth.
Infant-industry protection can be justified on the basis of the existence of learning-by-doing. How do i explain this
Consider two countries (Spain and Romania), two goods (textiles and cars), and two factors of production (skilled and unskilled labor). Romania is relatively abundant in unskilled labor, and textiles are relatively intensive in the use of unskilled labor. Both countries use the same technologies. (a) Which groups will be in favor of free trade in both countries? (b) What will happen to income distribution in Spain and Romania after free trade? (c) HowdoesfreetradeaffecttheincentivesofSpanishworkerstoacquireskills? (d) Assuming such high tariffs that goods are non-tradable, which group will be in favor of free migration? (e) Do you consider allowing labor mobility as a close substitute to free trade?
List and describe the different types of economic integration from the narrowest to the most comprehensive type.
Explain how financial globalisation can lead to income inequality in a country