There is a rise of global value chains in agriculture; This would lead to increases in income for the small farmers. The global value chains also show an application of what theory? O Specialization O Diffusion theory O Location theory
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- How 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.In che mid-1980s several of South Africa's maintrading partners imposed trade sanctions on SouthAfrica in an effort to bring an end to the then-prevailing policy of apartheid.South Africa mainly relied on the exports ofprimary commodities like gold, iron and other preciousmetals, while importing mainly capital goods.This almost instantly led to South Africa expe-riencing a shortage of capital goods, resulting insubdued economic growth. 31. In what did South Africa have a comparativeadvantage? 32.a.Draw a graph to illustrate production,consumption and trade in South Africabefore the imposition of trade sanctions.b.Was South Africa consuming inside, on oroutside its PPP? Explian your answer.c.Draw a graph to show the effects of tradesanctions on consumption and productionin South Africa.d. Did trade sanctrions change any opportunitycoSts in South Africa? If so, did theopportunity cost of everything increase?Did the opportunity cost of any itemsdecrease? Illustrate your answer…First state if true or false then always explain your answer please. a) A curved PPF is the result of different factor endowments for the two countries. b) Technology assumption is the same both in Classical and HO Model. c) The workers will oppose free trade in a labor abundant country.
- 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?In 2017, Nepal’s production of rice and machinery was published by the Nepal Bureau of Statistics (NBS) as indicated by the table below:Production in Nepal Position P Q R S T U V W X Y ZRice (1000 tons) 0 10 26 37 45 50 55 59 66 77 80Machinery (units)90 89 85 80 75 70 65 60 50 30 0 Use the NBS production table and production possibility frontier to answer the following questions:A. Name positions B, V and D. Also, as indicated in the table, supposing Nepal is operating at level T, what is the opportunity cost of producing 10,000 more tons of rice? B. Use the graph below to answer the questions that follow:B1: Suppose Nepal begins to manufacture fertilizers. Explain the impact of the discovery of fertilizers on Nepal’s economy using one of the PPF above.B2: Also, supposing there is a discovery of steel in Nepal, explain the impact of steel on the economy of Nepal using one of the PPF above.B3: Finally, the Minister of Finance in Nepal advices the World Bank that in order to increase…Question 1Using a production possibilities frontier (PPF) diagram, determine how does the PPF change in response to the following events: Make sure to explicitly indicate what sectors you are representing, and what sort of assumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latter follows from your assumptions on the factor intensity of the sector you are representing. a) Increasing skilled migration into the countryb) Imposing taxes on manufacturing (hint: define a two-sector producing economy, manufacturing and services).c) Decreasing the expenditure on research and developmentd) Implementation of easier rules for foreign investmente) The effects of a pandemic Question 2 Identify what sort of effects the following listed events have. You are required to define the market under study (for example: the labour market, oil market, etc). Explain whether the event acts on the demand or supply side, and whether the event leads to a quantity or…
- 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.Did the COVID-19 pandemic create new globalization opportunities for growth in yourCaribbean territory? YES/NOBased on your answer, write an answer that identifies those accepts that contribute to thegrowth, expansion and advancement of your local economy. On the contrary, if you do notbelieve that new opportunities were created, write an answer that identifies those acceptsthat negatively contributed to the negative growth, contraction and deceleration of our localeconomyUse the following chart for the 3 parts Factor Endowments US Belgium Labor 331 11 Capital Stock 100 7 Part 1: According to the chart and the Heckscher-Ohlin theory the US is A. Capital intensive B. Labor intensive C. Both capital and labor intensive D. Best to practice autarky Part 2: According to the chart and the Heckscher-Ohlin theory the US will _________ labor intensive and ________ capital intensive goods. A. Export, export B. Import, export C. Export, Import D. Import, Import E. Practice Autarky Part 3: According to the chart and the H-O model, when these two countries trade A. US capital owners will be winners B. US labor owners will be winners C. Belgium capital owners will be winners D. Belgium labor owners will be winners E. A and D F. B and C
- cost data:Assembly: Total cost of production = 400Earnings of High-Skilled Labor = 100Earnings of Low-Skilled Labor = 200Earnings of Capital = 100R&D: Total cost of production = 400Earnings of High-Skilled Labor = 175Earnings of Low-Skilled Labor = 125Earnings of Capital = 100A) In which factor is assembly intensive? In which factor is R&D intensive? Suppose that due to the opening of trade, the price of assembly falls by −20%, the price of R&Dremains unchanged, 0%, and capital’s share earnings remains constant. What has happened to the relative wage of high-skilled/low-skilled labor? Does this match the predictions of the offshoring model?4. The table below shows the total endowments of labour and capital in Germany andAustria, respectively.GermanyWorkers 100 Machines 20 Austria Workers 10Machines 4 Assess all the statements below and judge which of them is true and which is false.Provide a short justification for your assessment.According to the Heckscher-Ohlin model…a) …both countries are comparatively abundant in labour.b) …Austria is comparatively abundant in capital.c) …Germany exports should be in goods that use either labour or capital, depending on thegood.d) …Germany exports should be in goods that intensively use labour in production.e) …Austria will lose from trade, since it has both much less labour and capital endowment.Using a production possibilities frontier (PPF) diagram, determine how does a country’s PPFchange in response to the events described below.Make sure to explicitly indicate what sectors you are representing, and what sort ofassumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latterfollows from your assumptions on the factor intensity of the sector you are representing. a) Reducing skilled migration into the countryb) Imposing import taxes (tariffs) on intermediate inputsc) Increasing the expenditure on research and developmentd) An increase in the retirement age (providing greater flexibility in labour markets)e) The effects of a natural disaster.