Outsourcing is another word for off-shoring. B. The invention of containerization revolutionized trade by lowering shipping costs. C. In the country as a whole, by following comparative advantage, the losses tend to outweigh the gains.
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Which statement is TRUE?
A. Outsourcing is another word for off-shoring.
B. The invention of containerization revolutionized trade by lowering shipping costs.
C. In the country as a whole, by following
D. The Smoot-Hawley Tariff Act is the hallmark of globalization.
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- You just overheard your friend say the following: Poor countries like Malawi have no absolute advantages. They have poor soil, low investments in formal education and hence low-skill workers, no capital, and no natural resources to speak of. Because they have no advantage, they cannot benefit from trade. How would you respond?Explain how is the production structure (i.e. which goods are produced) affected in each country by opening up to trade. Is this consistent with the empirical evidence we observe in reality? How can this model be modified to produce a less stark result?A and B are two similar countries producing pendrives, with the only difference being that A has more experience in the production of the same. Under what conditions, can B out-compete A in the world trade market? Explain with the help of the concept of dynamic increasing returns.
- Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as “unfair” import competition. Is such competition unfair? Do you think that this argument is in the best interest of:(a) the unions, (b) the people they represent, and/or (c) the country as a whole? Answer each points with long essaysHow have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes? Explain with diagram and own concepts.Q) Which statement is true of natural resources in terms of global trade or a country’s economy? a. Steep declines in the price of oil had a negative impact on America’s oil producers. b. The past decade has witnessed the discovery of an abundance of natural resources. c. Petroleum is the only natural resource that affects international marketing. d. Vast differences in natural resources result in minor shifts of wealth among countries. Give me correct explaination and not copy paste anything from anywhere.
- Define the differences between the classical, country-based trade theories and the modern, firm-based trade theories. If you were a manager for a large manufacturing company charged with developing your firm’s global strategy, how would you use these theories in your analysis? Which theories seem most appealing to you and which don’t seem to apply?In his discussion of the impact of Globalization, Mike Myatt asserted the following: "In today's market-place, conductinbg business internationally is as much of a defensive play as an offensive play." Futher elaborated on menaing of this sentance by clearly articulating his implications of a defensive versus offensive position.What are the arguments for and against free trade? How to evaluate these varguments?
- Which of the below statements does NOT reflect the ideas of Trade and Globalization. In short, with which of the below statements, in one form or the other, DOES NOT match the ideas expressed? Group of answer choices Trade is a zero-sum game. If trade is good for the industrially advanced countries in western Europe and the U.S. it must be bad for the poorer countries in the world. In the late 1970s a major profit-seeking Korean textile producertrying to avoid quotas imposed by Europe and the U.S. upon South Korea, contracted out the production of shirts to a Bangladeshi garment producer. To ensure that the shirts produced would be of global quality the Korean company trained the Bangladeshi workers -thus creating human capital. In recent years, though Bangladesh is still one of the poorer countries in the world, it has also emerged as one of the world's leading garment producers. Cheap exports were the path to prosperity for many Asian economies such as Japan, Singapore,…The law of comparative advantages in trade typically applies only to trade between nations and favors the party who has the highest opportunity cost. True FalseConsider the following data on two countries, A and B. A B Unskilled labor 72 million 540 million Skilled labor 60 million 300 million a. which country is skilled-labor abundant and why? b. which country is unskilled-labor abundant and why? c. now assume that product T is unskilled-labor intensive relative to product S, under free-trade equilibrium, which country will have a comparative advantage in the production of T?
