Reasons for international trade include all except: a. Differences in technology b. No difference in capital stock c. Difference in demand d. Increasing returns to scale
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Reasons for international trade include all except:
Differences in technology
No difference in capital stock
Difference in
Increasing returns to scale
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- If opening up to free trade would benefit a nation, then why do nations not just eliminate their trade barriers, and not bother with international trade negotiations?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?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.
- Question: Describe comparative advantage in international trade and its benefits for countries.Don't use chatgpt please provide valuable answer otherwise be ready for disupvoteThanks in advance! Please give all statement answer Trade decreases productivity through non-specialization and the accumulation of knowledge. T or F? International trade allows a country to go beyond the domestic production possibility frontier (PFF). T or F? Import quotas place limits on the price of an imported product. T or F? Historical critiques of capitalism revolve around commodity production controlled by capitalists for profit-making based on consumer spending and want free and open markets and deregulation supplies the solution for many problems. T or F?True/ false Explain too . International trade provides a better product for the consumer.
- Question 1 a) What is international trade? b) Using a country of your choice, explain using data 3 advantages and 3 disadvantages of trade onthat country. c) What is the mercantilist views to international trade?"Since countries generally gain from free trade, it is surprising that not everyone supports it." Discuss. (Word limit is 500 words)Demonstrate competence in words the theory & evolution of international trade with emphasis on comparative advantage.
- assist please Which of the following statements best exemplifies the concept of relative advantage in international trade?A. USA can produce both wheat and textiles more efficiently than any other country.B. USA can produce wheat more efficiently than China, while China can produce textiles moreefficiently than USA.C. USA can produce more wheat than China, but China can produce more textiles than USA.D. USA and China have the same level of efficiency in producing wheat and textiles.Draw for Nation 2 a figure analogous to the top panel of Figure 7.7 under the following assumptions: (a) Only the amount of labor doubles in Nation 2. (b) The terms of trade of Nation 2 improve from PY /PX = 1 with free trade before growth to PY /PX = 2 with growth and free trade. (c) Nation 2 exports 20Y with growth and free trade.True/ False What is the advantage of involving in international trade for a nation.
