Preferential trading agreements can improve people's welfare if: a. efficiency loss exceeds terms of trade gain b. trade creation exceeds trade diversion c. trade diversion exceeds trade creation d. terms of trade gain exceed efficiency loss
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Preferential trading agreements can improve people's welfare if:
a. efficiency loss exceeds terms of trade gain
b. trade creation exceeds trade diversion
c. trade diversion exceeds trade creation
d. terms of trade gain exceed efficiency loss
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- Q)choose correct option, When a country has a comparative advantage in producing a certain good, A: the country should import that good. B: the country should produce just enough of that good for its own consumption. C:the country’s opportunity cost of that good is high relative to other countries’ opportunity costs of that same good. D: then specializing in the production of that good and trading for other goods could allow that country to consume at a point beyond its production possibilities frontierA small country’s demand curve is given by Q=36-2P and its supply curve is given by Q=4P-12. Assume the world is currently in free trade and that the price under free trade is $4. What is the prohibitive specific import tariff for this economy (i.e. the tariff that would reduce net exports to zero)? Group of answer choice a.6 b.5 c.4 d.8Please no written by hand and no image 3. Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. What is the range of prices at which mutually beneficial trade can occur? Show your work clearly.
- How can a nation use opportunity cost to achieve trade benefits? Group of answer choices By producing a product where it has the lowest opportunity cost and trading for products where it doesn’t have comparative advantage By analyzing the opportunity costs of potential trading partners and then trading only with those who have the same opportunity cost for producing the same good By improving production so that it has the lowest opportunity cost in all products By producing a product where it has the highest opportunity cost and then trading for any product where it has the absolute advantage in production.Q) When a country has a comparative advantage in producing a certain good, A: the country should import that good. B: the country should produce just enough of that good for its own consumption. C:the country’s opportunity cost of that good is high relative to other countries’ opportunity costs of that same good. D: then specializing in the production of that good and trading for other goods could allow that country to consume at a point beyond its production possibilities frontierA small country’s demand curve is given by Q=36-2P and its supply curve is given by Q=4P-12. Assume the world is currently in free trade and that the price under free trade is $4. What is the prohibitive specific import tariff for this economy (i.e. the tariff that would reduce net exports to zero)?Group of answer choices a.6 b.5 c.4 d.8
- Intra-industry trade has played a prominent role in the trade of a. commodity production. b. manufactured goods. c. agribusiness products. d. all of the above.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.61.Comparative advantage in production of the good measured on the horizontal axis is identified with a straight-line production possibilities frontier that has a slope that is A)larger in magnitude (or absolute value). B)smaller in magnitude (or absolute value). C)positive. D)larger in magnitude (or absolute value.) and positive. 62.A quota that limits U.S. imports of cane sugar A)harmsU.S. sugar consumers. B)helpsU.S. cane sugar producers. C)helpsU.S. corn syrup (sweetener) producers. D)all of the options are correct. 63.A quota that limits U.S. imports of cane sugar A)harmsU.S. consumers more than it helps U.S. producers. B)helpsU.S. producers more than it hurts U.S. consumers. C)harms foreign producers more than it helps U.S. producers. D)helps both U.S. consumers and U.S. producers at the expense of foreign producers. 64.Of approximately 140 million jobs in the U.S., each year approximately A)31 million are eliminated and 30 million are created.…
- Suppose a country's workers can produce 4 pens per hour or 12 pencils per hour. If there is no trade, ________. a. the domestic price of 1 pencil is 1/4 of a pen b. the domestic price of 1 pencil is 4 pens c. the domestic price of 1 pencil is 12 pens d. the domestic price of 1 pencil is 1/3 of a pen e. the domestic price of 1 pencil is 3 pens Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.A semiconductor is a key component in your laptop, cell phone, and iPod. The table providesinformation about the market for semiconductors in the United States. Producers ofsemiconductors can get $18 a unit on the world market.a. With no international trade, what would be the price of a semiconductor and how manysemiconductors a year would be bought and sold in the United States?b. Does the United States have a comparative advantage in producing semiconductors?c. Draw a graph (graph is for your own reference, not required to be attached in the answersheet) to illustrate the U.S. supply and demand market for semiconductors. What is the pricewith free international trade? What is the quantity of semiconductors produced in U.S. andtotal quantity bought by U.S. people and the quantity exported from other countries?d. Due to loss of competitiveness brought on by appreciation of the exchange rate and the highproduction costs, U.S. government reduce the export (or limit the supply of…Question ; Check all true statements below. Select one : O. Export tariffs hurt consumers O. Import tariffs hurt consumers O. If a a country is a large supplier of some good on the world markets, it can affect world prices with an import tariff on this good. O Import tariffs assist domestic producers
