Which of the following is a benefit of free trade? A. It reduces employment in many fields. B. It makes more diverse products available. C. It causes industries to decline. D. It makes countries dependent on foreign powers.

Q: you have been hired by an International Organization to be consulted on various issues that the…

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Q: Free trade always helps the exporting country at the expense of the importing country. True O False

A: Answer: False Explanation: Free trade helps both countries by improving social welfare. The…

Q: Here is what each country can produce: Country Tons of Rice Tons of Metal Norway 50,000 5,000 India…

A: The countries trade when they have comparative advantage in production of a good ie they would…

Q: What is the meaning of terms of trade

A: Export is the process of selling products and services to foreign countries manufactured in the home…

Q: While the nation as a whole may gain from free trade, there is no doubt that certain regions,…

A: Answer in step 2

Q: A) Using the prior graph if the U.S. did not trade what price would the good cost? If the world…

A: Producer surplus refer to the difference between the minimum acceptance price of the producer and…

Q: A German worker takes 500 hours to produce a car and 5 hours to produce a case of wine. A French…

A: Opportunity Cost: It is the cost of the next best alternative forgone for doing an action.…

Q: Discuss the arguments for and against free trade

A: Free trade can also be described as the application of the free market concept to international…

Q: I attached the graph to this question. 1. If trade is avoided, Spain consumes _____ wrenches…

A: The exchange of products and services between a buyer and a seller at a mutually agreed-upon price…

Q: The case for free trade is strong but the losers need more help. Which statements below are true?…

A: Many analysts have focused on the economic hardship that will be felt by both sides as a result of…

Q: In some simple models of trade, a country may choose to specialize in the production of a single…

A: According to the simple trade model, trade encourages the countries to concentrate its productive…

Q: hich of the following is not true of trade with other nations? Group of answer choices Trade is…

A: The economies, and the nations around the globe are involved in trading activities with each other.…

Q: Please mark the following statements True or False and explain why in one or two sentences. 1. A…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: When tariffs are imposed on an imported good, Group of answer choices 1.jobs are saved, but at a…

A: A nation's engagement in a more open international trade increases the total well-being of an…

Q: c ) After trade , if Canada still wishes to have 90 bushels of wheat , how many more DVDs could it…

A: Japan has a comparative advantage in production of DVD while Canada has comparative advantage in…

Q: Many people will lose or have lost their jobs because of the growth of international trade. So, why,…

A: The answer is as follows:-

Q: Discuss the importance of terms of trade for countries.

A: Terms of trade refer to the relative price of imports in terms of exports.

Q: A country's level of trade is measured by exports as a percentage of GDP.

A: The level of commerce in a country may appear to be similar to the balance of trade at first glance,…

Q: ome economist recommends that countries should specialize in trade. What are 3 main disadvantages…

A: Countries should specialize in the trade in which they enjoy an absolute benefit. Whenever countries…

Q: UNITED STATES                       SOUTH KOREA    VCR PHOTOCOPIER VCR PHOTOCOPIER 0 800 800…

A: Since you have posted multiple sub-parts, we are answering the first three for you. If you want a…

Q: what groups tend to gain with free trade and which groups are the losers

A: Free trade: Free trade is one of the trade policy which means no restriction on import and export of…

Q: international trade theory An economy grows and the country wants to trade more after the growth.…

A: The terms (TOT) of trade measures the price of exportable items in relation to the price of imported…

Q: 1. Hours of Labor Required to produce Cheese and Wine USA FRANCE |Cheese 20 30 Wine 20 Show the…

A: Absolute advantage and comparative advantage are two concepts in economics and international trade…

Q: Question 5. Countries A and B have two factors of production, capital and labor, with which they…

A: Given, Two countries = A and B Factors of production = Capital (K) and labor (L)  Two goods = X and…

Q: The gains from expanding trade are probably most important for the low-income economies in the world…

A: The exchange of commodities and services between countries is thought as international change social…

Q: Suppose that in the absence of trade, the U.S. price for bicycles was higher than the world price…

A: In the event that without international trade, the price in the U.S. for bicycles was higher than…

Q: Explain the comparison of the potential and actual effects of government intervention on the free…

A: Necessary actions that are taken by the government which change the decisions made by a person or…

Q: You are watching the nightly news. A political candidate being interviewed says, "I'm for free…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: With trade a country will produce a greater variety of goods and services to trade O country is…

A: With the opening up of trade, there is specialization and the country is involved in the production…

Q: explain the importance of the terms of trade to a nation and how changes in the terms of trade are…

A: Terms of trade:- The TOT is considered as a gauge of a nation's economic health, although it has the…

Q: free trade, whereas others are unhapppy, even angry, that the government has reduced regulations on…

A: Trade restriction refers to the restrictions imposed on the cross-border trade between countries.…

Q: international trade Consider a Ricardian model with two countries, the US and Ecuador, producing…

A: Comparative advantage occurs when one country is able to produce a particular good at a lower…

Q: Identify the groups that are resistant to free trade and explain the reasons for their opposition.…

A: Trade agreement could be a accord between 2 or additional nations to scale back barriers to imports…

Q: The table below shows the production of oil and lumber of ONE worker in China and India: rice (in…

A: Answer: a. Before the trade, Production is equal to Consumption. It means each country consumes what…

Q: If the United States creates a trade agreement with Vietnam, we know that Vietnam will benefit, but…

A: The United States and Vietnam have made peace agreement from past few decades, but they have…

Q: Some groups of nations are forming trade blocs, like North America or Europe. Are regional trade…

A: Yes, regional trade blocs are beneficial to global trade because they reduce the likelihood of…

Q: List and explain 5 international trade issues that you know?

A: The transfer of goods and services from one country to another is known as international trade. This…

Q: Calculate opportunity cost for each good for each country. Country 1 and 2 have comparative…

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Q: Listen carefully to the podcast titled 'Is America losing faith in Free Trade?". What would help…

A: Free trade is a trade policy that does not restrict imports or exports.

Q: What are the difference of the modern theory of international trade vs classical theory

A: The modern theory holds that trade between two countries occurs only when their factor endowments…

Q: “When a nation is running a trade surplus, capital is flowing out of the country.” Do you agree with…

A: Trade is in surplus when the export of a country is more than it imports. The trade balance is…

Q: ince​ 1950, the volume of world trade and the volume of world real GDP   A. have both​ increased,…

A: Since 1950, there is a drastic changes in the international relationship among the nations in terms…

Q: a) “For a small country like the Swaziland, a move o free trade would have huge advantages. It would…

A: Free trade would be beneficial for consumers but it may not generate sufficient amount of revenue…

Q: In the attached diagram, which points represent the production specialization point and the trade…

A: According to this theory, a country has a comparative advantage in producing that good if the…