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- Does international trade, taken as a whole, increase the total number of jobs, decrease the total number of jobs, or leave the total number of jobs about the same?In principle, the benefits of international trade to a country exceed the costs, no matter whether the country is importing or exporting. In practice, it is not always possible to compensate the losers in a country, for example, workers who lose their jobs due to foreign imports. In your opinion, does that mean that trade should be inhibited to prevent the losses?True/false/explain. If a country’s workers can produce 5 hamburgers per hour or 10 bags of fries per hour, then absent trade with other countries, the price of 1 bag of fries is2 hamburgers. If trade benefits one country, its trading partner must be worse off as a result of trade.
- Question 3a. What does “term of trade” mean? b. Using the information provided in the table below, answer the following questions. COUNTRY A COUNTRY B TABLES 4 7 DESK 1 2 b) Answer the following questions:i. Which country has the Absolute advantage in tables? ii. Which country has the Absolute advantage in desk? iii. Which country has the Comparative Advantage in tables?iv. Which country has the Comparative advantage in desk? v. If each country has 10 workers who can produce either tables or chairs, draw the PPF of tables and desk for Country A and do the same for Country B.explain that how this international trade plays its significant role in the economic development of our country? Furthermore, international trade is not free from disadvantages. Explain some of the disadvantages briefly which are linked with international trade.Question: what are some examples of successful expansion of global trade, countries are seeing, and using, trade as a weapon during and after recessions? please answer in paragraphs, thank you for your time!
- What theory attempts to explain why Japan is strong in automobiles, Switzerland in precision instruments and pharmaceuticals, and Germany in chemicals? Select one: a. Absolute advantage b. New trade theory c. National competitive advantage d. Comparative advantageOn 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…you have been hired by an International Organization to be consulted on various issues that the country Motherland faces. assume that Motherland is a small agricultural economy. 1. Assume that the biggest trading partner of Motherland is the United States. Unlike Motherland, the United States is a large industrial country. What type of trade model can best explain the trade between Motherland and the United States?
- Economics Which of the following rule/s is/are WTO’s responsibilities? * a)All Rules regarding trade finance b)International Trade Law c)All Rules regarding Freight Forwarding d)Tariff and Trade Agreements e)Both b and dInternational Trade (Chapter 20) QUESTIONS Suppose that in the absence of trade, the U.S. price for bicycles was higher than the world price for bicycles. Would allowing international trade, mean that the U.S. would import or export bicycles? Who in the U.S. would benefit and who would lose with a free trade policy, and would the gains be greater than the losses? Note: please do not give a copy & paste answer from Chegg. or course heroQuestion: Describe comparative advantage in international trade and its benefits for countries.Don't use chatgpt please provide valuable answer otherwise be ready for disupvote