Of all the arguments for placing limitations on trade, which of the following would most likely be characterized as being the most controversial among economists? a) bank/financial sector regulation argument b) quantitative easing argument c) the infant industry argument d) floating currency argument
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Of all the arguments for placing limitations on trade, which of the following would most likely be characterized as being the most controversial among economists?
a) bank/financial sector regulation argument
b) quantitative easing argument
c) the infant industry argument
d) floating currency argument
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- Which of the following is not an advantage of trade liberalization? Select one: a. An access to a larger market b. Reduction in the cost of transportation c. Increased export credit facilities d. Improvements in communication systems e. An increase in competitionThe following is the most appropriate description to explain the trade liberalization or trade deregulation policies since the mid-1980s a. This policy will definitely increase the economic development of developing countriesb. the lower effective rate of protectionc. improve inequality in developing countriesc. strengthen the previous trade policy strategy, namely import substitution industrializationWhich one of the following policy tools does not place barriers to international trade or finance? tariffs capital controls domestic content requirements foreign trade zones trade quotas
- In a world where transporting goods and services across borders is costless, it becomes much easier for firms to access foreign markets. This would eliminate a major barrier that many companies face when considering international expansion. Firms can now export their products to foreign markets without worrying about expensive shipping costs, making it financially viable to target new customers in different countries. The absence of trade barriers, such as tariffs, quotas, and regulatory restrictions, further enhances the feasibility of international expansion. Trade barriers typically increase the cost of doing business across borders and can limit market access. With no such barriers, firms can freely engage in cross-border trade, increasing their market reach and diversifying their customer base. In a world with significant variations in factor conditions, such as labor, capital, natural resources, technology and infrastructure, firms can benefit from international expansion by…Define trade liberalization.Under which of the following conditions will trade not take place? Select one: Country X and Y have weak trade relations Country X gains more than country Y Country X and Y get the same gain as the international Exchange Rate Country Y gains more than country X Country X and Y get equal gains to the Domestic Exchange Rate
- Describe these three arguments that are often used to justify trade barriers: the national security argument, the infant-industry argument, and the jobs argument. Then discuss the counterarguments against each of these arguments.Speculate as to why some U.S. firms strongly support trade liberalization while other U.S. firms favor protectionism. Speculate as to why some U.S. labor unions strongly support trade liberalization while other U.S. labor unions strongly oppose it.Trade liberalization is: a. The opposite of protectionism. b. The opposite of trade surplus c. The same as goods and services. d. All of these.
- Which of the following ideas would those in favor of protectionist trade policies MOST likely believe support a stable US economy? a reduction in tariffs fewer import restrictions a need to preserve domestic industries restrictions harm consumersDiscuss the applicability of the Stolper-Samuelson theorem for predicting terms of trade in two countries.Which of the following is NOT a possible positive outcome related to tariffs? A Improved national security B Reduced domestic unemployment C Tariffs can lead to increased rent seeking D Allows new industries to more quickly reach economies of scale