When countries specialize in producing a particular product and trade products they don't produce, it will generally lead to a worse outcome than if every country produces all the products as best they can. True False
Q: Use 5 countries of your choice to show interdependence among them as a result of trading
A: When trade of goods and service is done with Nations it is called International trade .…
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A: Regional Trade agreements are a type of written treaty which is signed by group of countries to…
Q: A nation has a in the production of a good or service if it can produce that good or service more…
A: According to the theory of comparative advantage, a country has a comparative advantage in the…
Q: total production) than smaller countries? a) Smaller countries tend to be poor so there are not…
A: International trade refers to the exchange of goods and services across borders.
Q: Mutual interdependence means that:
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A: EU (European Union) is the union in which there are 28 member countries. The aim of this union is to…
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A: Globalization is the process by which firms expand their production in international markets.
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A: International economics deals with the effects of economic activity which results from International…
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A: GLOBALIZATION: This is the process of informational integration that grows from the purchases of…
Q: True or false question below. A country's level of trade is measured by exports as a percentage of…
A: In international trade, countries trade with each other by exporting and importing goods and…
Q: International trade benefits a nation when a. its revenue from selling abroad exceeds its…
A: International trade - International trade refers to the exchange of goods and services between…
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A: When the two countries are open to free trade there are always gains from trade.
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A: True
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A: Blood diamonds (also known as conflict diamonds, brown diamonds, hot diamonds, or red diamonds) are…
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A: Only companies that innovate and create items that consumers demand survive in a free market.…
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A: Mission refers to the aim, objective or goal in order to achieve something. Measures refer to the…
Q: How did International cooperation influence the legal reform
A: International cooperation is a cooperation to handle the threats and challenges mutually which will…
Q: International data show a positive correlation between income per person and the health of the…
A: Positive relationship refers to the situation where both the variable travels in the same direction.…
Q: Participation in the international division of labor and, implicitly, in the world economic circuit,…
A: In our interconnected economies around the world, shocks within the framework of the economic…
Q: should Country X trade with Country Y? Group of answer choices True False
A: The trade between two countries should only take place when it is beneficial for both the countries.…
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A: * ANSWER :- * Globalization is about the Liberalization and Global Integration of Markets. For…
Q: OECD encourages countries to continuously supply various medical products to least income countries…
A: Here, it is given that the OECD encourages developing or developed nations to provide medical…
Q: A country should specialize in producing the goods for which it has the highest opportunity cost.…
A:
Q: How do intellectual property protections differ between India and China?
A: Intellectual property is a sneak up word for a collection of intangible assets or non-physical…
Q: How do many economists feel about protecting infant industries? Question 30 options: Protection…
A: Infant industries are young industries that are just starting out. Protection is given to infant…
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A: Now days the flow of goods and services , and resource flow has increased due to globalisation .
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A: The World War II had a significant impact on various participating countries as it resulted in a…
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A: If the Wester Japanese and other Multinational corporation would reduce their dependence over China…
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A: Globalisation has increased profit and expands market for various domestic and international…
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A: This is a PESTLE analysis of FFC (friends fast food cornor ) Explores how the six external factors…
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A: Salim produces his goods in one country but sells the same goods in multiple countries. This is a…
Q: Which (if any) of these statements are correct? Empirical results show that trade between two…
A: The answer is - Empirical results show that trade between two partners tends to be higher among…
Q: Competition among exporting nations is mild. True or False True False
A: Exporting nations always compete with each other to capture the market share in international…
Q: According to firm-based model, firm which are more export-oriented, tend to be a. more protectionist…
A: An export-oriented firm would always vouch for free trade. It is because its business is run by…
Q: Economic sanctions are designed to Presure the government of the aggressor country to negotitate a…
A: In the world economy, the term economic sanction is used to explain the situation when a specific…
Q: generally believe that Americans should turn to international organizations & agreements when it…
A: Foreign capital and investments are necessary for the development of all nations. However, different…
Q: True or False. Because older adults have more human capital, they are more likely to migrate to…
A: Migration is the situation where people from one region travel to another in search of livelihood,…
Q: define globalization of capitalism
A: The integration and interaction among the different people, firms, and the governments of different…
Q: The volume of trade between two provinces or states of countries are influenced strongly whether…
A: A market is a place where the buyers and sellers in the economy interact with each other and the…
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- Case: Despite 2015 Paris agreement, global carbon emissions increased 1.7 percent in 2017 and a further 2.7 percent in 2018; it has been estimated that the rate of increase in 2019 will be among the highest on record. The last four years have been the hottest on record, with 2019 on track to make it five. But analyses suggest that fast action now can reduce carbon emissions within 12 years and hold global increases below 2 degrees C and perhaps 1.5. Even though carbon emissions in The Gambia, Morocco and India are expected to rise, they’ll fall short of exceeding the 1.5-degree Celsius limit. But some countries, such as Saudi Arabia, Russia, and United States, are not trying hard enough. a. Explain the inefficiency in this case! Use graphics b. Why can't this problem be solved through market mechanisms as in private goods? c. Give possible public (global) solutions and private (global) solutions to this and what are the advantages and disadvantages of each.Review the numbers for Canada and Venezuelafrom Table 33.12 which describes how many barrelsof oil and tons of lumber the workers can produce. Usethese numbers to answer the rest of this question.a. Draw a production possibilities frontier for eachcountry. Assume there are 100 workers in eachcountry. Canadians and Venezuelans desire bothoil and lumber. Canadians want at least 2,000tons of lumber. Mark a point on their productionpossibilities where they can get at least 3,000tons.b. Assume that the Canadians specializecompletely because they figured out they havea comparative advantage in lumber. They arewilling to give up 1,000 tons of lumber. Howmuch oil should they ask for in return for thislumber to be as well off as they were with notrade? How much should they ask for if theywant to gain from trading with Venezuela? Note:We can think of this “ask” as the relative price ortrade price of lumber.c. Is the Canadian “ask” you identified in (b) alsobeneficial for Venezuelans? Use the…2. What economic opportunity cost in COVID 19?
- question 1 attached in SS below thanks for help appreciated it o1i4j1 4oiyj14 yi1j4y 14ioyj41 ioy14jdo only qu 2France and Poland each have one worker whosemonthly linear Production PossibilityFrontier indicatesthe following production possibilities: PolandFranceComputers (C) 246Grain (G) 43 a)France’sopportunity cost of G in terms of units of C equals ______ ? b) Poland’sopportunity cost of G in terms of units of C equals ______ ?For the followingparts, please complete the questions by filling in the blank, and responding toremainderof the question: c) Poland’scomparative advantage is in ______ because: d) If France and Poland decide to trade, _________ will be theexporter of G while ______ will bethe importer because: e) If the economies choose to trade, the world relative priceof goods must be ________ in orderfor trade to be mutually beneficial, because:
- France and Poland each have one worker whosemonthly linear Production PossibilityFrontier indicatesthe following production possibilities: PolandFranceComputers (C) 246Grain (G) 43 a) France’sopportunity cost of G in terms of units of C equals ______ ? b) Poland’sopportunity cost of G in terms of units of C equals ______ ?For the followingparts, please complete the questions by filling in the blank, and responding toremainderof the question: c) Poland’scomparative advantage is in ______ because: d) If France and Poland decide to trade, _________ will be theexporter of G while ______ will bethe importer because: e) If the economies choose to trade, the world relative priceof goods must be ________ in orderfor trade to be mutually beneficial, because: 4.In the following problem, assume that the UK currency is the pound sterling (PST)and thecurrency in the restof the Europe is the euro (EUR). Suppose that thePST appreciates relative to the EUR. For the following parts, you will…Country JKL has a maximum of 50 labour(hours). The tab shows maximum quantity of wheat and cotton the Country produce with different labour (hours) used. Combination A B C D E F Corn 15 14 12 9 5 0 Wheat 0 2 4 6 8 10 A) If Country JKL produces 8,000 kg of wheat and 5,000 kg cotton a week, does it face trade-off? Why? B) Suppose Country JKL has successfully brought in an adv technology that improves the production of cotton by 20% from its original combinations. Sketch a diagram that shows the changes of the PPC for Country JKLTwo important industries on the island of Bermuda are fishing and tourism.According to data from the Food and Agriculture Organization of the United Nationsand the Bermuda Department of Statistics, in 2009 the 306 registered fishermen inBermuda caught 387 metric tons of marine fish. And the 2,719 people employed byhotels produced 554,400 hotel stays (measured by the number of visitor arrivals).Suppose that this production point is efficient in production. Assume also that theopportunity cost of 1 additional metric ton of fish is 2,000 hotel stays and that thisopportunity cost is constant (the opportunity cost does not change).a. If all 306 registered fishermen were to be employed by hotels (in addition to the2,719 people already working in hotels), how many hotel stays could Bermudaproduce?
- 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 localeconomyImagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?Will all the oppotuniy cost be 1 im so confused Calculate the opportunity cost of producing the first 10 and the last 10 missiles. Missiles vs. Milk (millions of gallons) 0 4010 3020 2030 1040 0