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One of the main commodities traded in the triangular trade was:
a. Cotton
b. Silver
c. Tea
d. Pepper
Triangular trade refers to a link between three regions or ports. It lead to shuttle between north america to Europe to Africa.
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- If the terms of trade are tt = M/S =1.4 between the home economy in Figure 2.1 and the foreign economy in Figure 2.4, find the relative wages w/ew* implied by free trade. Find the relative wage if instead tt - 0.7 and explain the effect of the change in the terms of trade on the relative wageLook at a country’s Terms of Trade (T.O.T.). It is assumed that when the T.O.T. value increases the country’s wellbeing goes up, and when the T.O.T. value declines, the country’s wellbeing is reduced. Do you agree??? Explain!!!Please explain why the answer is false. Specializing in its comparative advantage and trading with other nations benefit a country in terms of its total output but not individuals when it comes to their wages.a.Trueb.False
- Who gains and who loses from trade?. Describe theories that explain national trade patterns. b. Does any of the theories apply to Walmart? c. Does Walmart's host country and/or home country have WTO membership? d. Is WTO membership of the host and/or home country important? Explain briefly. Please answer these questions that correlate to Walmart. please answer correctly ansd completelyWhat is the relationship between the H–O theory and other trade theories?
- (Arguments for Trade Restrictions) Firms hurt by lower priced imports typically argue that restricting trade will save U.S. jobs. What’s wrong with this argument? Are there ever any reasons to support such trade restrictions?If the country specialize in and agreed to trade 100 car parts for 100 aircraft parts, show on the graphs the gain that each country receives from trade and what are the characteristics about the price and allows for gains from trade? What is your understanding of trade when referring to the exchange of goods for goods or labor service for money?
- 41. Which of the following is true? a) The net employment effect of trade is to reduce the number of jobs in the economy. b) It is impossible for a high wage economy to compete with a low wage economy. c) Imports of products subsidized by the exporting country government lead to net economic losses for the importing country. d) Protection of industries against imports helps these industries become more competitive. e) None of the above.Describe the key elements of the triangular trade.1. What continents did the triangular trade connect?2. What were the significant commodities exchanged in this global trade?On his first day in office, President Donald Trump took the United States out of the Trans Pacific Partnership (TPP), a proposed free trade deal with 11 other countries in the Asia-Pacific region, representing nearly 40% of global GDP. If the TPP had come into existence, the countries in the TPP would NOT be in violation of the most-favored nation (MFN) principle in the World Trade Organization (WTO) by giving each other preferential trade access. Why? A. There is an exception to MFN regarding the Generalized System of Preferences. Because Vietnam, a developing country, was one of the 12 members of the TPP, that exception applies to the whole partnership. B. Because the United States has the largest economy in the world, it gets to decide when MFN applies and when it doesn’t. C. There is an exception to MFN regarding regional trade agreements (RTA), and because all the proposed members inhabit the Asia-Pacific region, the TPP would have been an RTA, and therefore, members could give…
