Q: oes their
A: Mercantilism was a system being based on the belief that the wealth was in turn static in the world…
Q: Statement 1: One of several World Trade Organization's primary missions is to promote improved…
A: Answer - Need to find - Correct option Given in the question- Statement 1: One of several World…
Q: The political objective of the Marshall Plan can be best described as Select one: O a.a means of…
A: Since you have posted multiple questions, will be answering only first one.
Q: Why isn’t trade between two countries like a game inwhich one country wins and the other loses?
A: International Trade: The term international trade refers to the process to sell and purchase of…
Q: What is an accurate statement regarding mercantilism? O It explains part of the reason the English…
A: International trade occurs when there is free movement of goods and services, resources such as…
Q: NAFTA has had little effect in Canada. O True O False
A: NAFTA has had an overwhelmingly beneficial outcome on the Canadian economy. Under NAFTA, all out…
Q: Assume, for Vietnam, that the domestic price of textiles without international trade is lower than…
A: Vietnam has lower price of textiles than other nations. This means Vietnam can produce textiles…
Q: True/False/Uncertain and Explain Gains from trade arise when countries specialize in producing the…
A: In financial aspects, gains from exchange are the net advantages to monetary specialists from being…
Q: Do you think governments should consider human rights when granting preferential trading rights to…
A: PTAs are treaties that remove trade barriers and establish standards for international trade between…
Q: Suppose that in the next few years Saudi Arabia oil production increases significantly. a. How will…
A: Terms of trade are basically defined as the ratio of the index of export prices to the index of…
Q: Let us assume wine and steel can be produced both by France and Italy. France requires 20 hours of…
A: The Ricardian model is a most basic models, yet it provides some of the most persuasive arguments…
Q: Q. 3. Countries A and B are at war. Navy of country A has only one submarien whith which it can…
A: Optimal outcomes in a game are achieved when there is no incentive to depart from the initial…
Q: Which phrase best completes the diagram? Globalization ? O A. Improved incomes for poor people in…
A: Globalization refers to the speedup of movements and exchanges of human beings, products, and…
Q: Would you consider that imperialism, the policy of extending a country's power ad influence through…
A: Globalization lays down the principle of trade among the countries, helps the developing/poor…
Q: Which of the following is correct about the imperial international system? O A. It is the current…
A: The answer is - C. Imperialism predates the modern nation state system.
Q: what we mean when we talk about the current “Scramble for Africa
A: Introduction: Colonization refers to large-scale population shifts in which migrants keep strong…
Q: What happens to the welfare of foreign consumers? a. Lose L+M O b. Lose L+M+N+O+Q C. Gain L+M+N+O+Q…
A: An import tariff is levied on the value of imported goods by the government of the importing…
Q: Describe the “rising power concept.” What tools of diplomacy might a rising power use to improve its…
A: Diplomacy: If we consider the term diplomacy on an international level then it can be defined as the…
Q: a) Suppose the two countries engage in international trade, and that the international relative…
A: Answer a).
Q: According to the new assumption, globalization has made it more difficult to buy and sell goods in…
A: Through trade and technology, globalisation has brought the world closer together. It is defined as…
Q: Which of the folowing correctly identifies a result of globalization? O A. Investments in American…
A: Globalization is the process of integration as well as interaction among companies,people and…
Q: Lebanon is a hub for Syrian O access dollars O hank accaunts, O small goods to take back to Syrla O…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The Uruguay Round of the GATT began a process of phasing out the use of voluntary export restraints.…
A: When the government sets restriction on the goods quantity that is exported during specified period…
Q: c. Consider a Ricardian model with two countries, the US and Ecuador, producing two goods, bananas…
A: There are no restrictions on imports or exports under free trade. International trade can also be…
Q: Generally speaking, smaller countries tend to trade more than larger countries because: Select one:…
A: c) small country like the required Economics of scope
Q: What is an economic embargo? What kind of countries tend to use economic embargoes? Do embargoes…
A: Meaning An embargo is an administration orders that limits trade with a predefined country or the…
Q: n what ways do the international protection of intellectual property rights (think patents,…
A: While it was once all about getting materials from afar, the concept of trade has broadened to…
Q: How did the U.S. emerge from World War Il as a superpower? O. Although the U.S. entered World War II…
A: With a global network of alliances and military bases, the United States is by far the most powerful…
Q: d. Assuming no trading between the two, if both countries wanted to have equal numbers of tons of…
A: d) In the absence of commerce, each country would want to consume the same quantity of granite and…
Q: Use the chart to answer the following question. ? Reduce the number of quotas Growth of trade Reduce…
A: The chart has the following : Reduce the number of quotas. Growth of Trade Reduce protective…
Q: Summarize Ricardo’s concepts of comparative and absolute advantage. Visually illustrate how gains…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: Victory or defeat in wars always brings the same result: destruction, It’s pointless to become the…
A: The US-China exchange war saw a remarkable scene of proportional duty increments between the world's…
Q: Through some countries have become famous for the goods and services they produce. * O None of the…
A: When countries engage in sale and purchase of goods and services within their boundary, they engage…
Q: of producing corn (just the value, no units) for each country in the table below. (In decimal…
A: According to the Ricado's comparative advantage theory of trade a country should produce and export…
Q: True of False? Most economists support protectionism against international trade in cases where…
A: Protectionism refers to the policy adopted by the government to protect domestic industries and…
Q: Consider the possibility that your state could reach a large trade agreement by making substantial…
A: The exchange of commodities and services between countries is thought as international trade.…
Q: a. Are comparative-cost conditions such that the two countries should specialize? If so, what…
A:
Q: Do you think that the concept of absolute advantage and comparative advantage still relevant to…
A: The nations around the world are connected with each other through the phenomenon of international…
Q: NAFTA is a trade agreement between North American countries. O True O False
A: Free Trade Agreement(FTA) was established for a fair set of rules for trade between the agreeing…
Q: The European Union is a force for change. O A. competitive O B. political O C. social O D.…
A: In the global market, countries make treaties to become partners or make alliance for specific…
Q: Q. 3. Countries A and B are at war. Navy of country A has only one submarien whith which it can…
A: Nash equilibrium is a concept in game theory that asserts that the best possible outcome occurs when…
Q: What ushered in the "second golden age" of trade? O the decline in volume of trade among…
A: When talking about international trade, rhe golden age period arose after the WW I and WW II because…
Q: Look at a country’s Terms of Trade (T.O.T.). It is assumed that when the T.O.T. value increases the…
A: The term of trade (T.O.T.) refers to a rate at which a country’s goods are exchanged for another…
Q: How does a rich country's refusal to trade with countries that employ cheap labor in terrible…
A:
Q: When the North American Free Trade Agreement (NAFTA) was being negotiated in the early 1990s, there…
A: In economics, gains from trade are the net advantages to economy agents from being permitted an…
Q: What were some of the reasons for the decline in the import-substituting industrialization strategy…
A: Answer: In the Import-substituting policy, the firms were still producing when their costs were…
Q: A collection of countries within an integrated economic region is referred to as? O A) a regional…
A: An arrangement that includes either the elimination or reduction of barriers of trade and the…
Q: NAFTA puts a halt to international trade. O True O False
A: NAFTA is the North American Free Trade Agreement that establish in the year 1994 which promotes free…
Step by step
Solved in 2 steps
- Please no written by hand solution Assume a society consists of two economic? groups: one group is rich and the other group is poor. Suppose that 50 percent of the population is rich while the other 50 percent of the population is poor. Consider two scenarios. Scenario? A: The rich have ?$60000 ?each, while the poor have ?$2000 each. Scenario? B: The rich have ?$7500 ?each, while the poor have ?$750 each. If you only care about average income and not about? equity, you would prefer ? a or b ?, which has an average income of ?$ ________. ?(Enter your response to the nearest dollar?.) Now suppose that you only care about equity or inequality. In this? case, you would prefer ? Scenario B or Scenario A ?, which has a? rich-to-poor ratio of ________. ?(Round your response to one decimal place?.) ?Finally, suppose you only care about living standards. In this? case, you would prefer ? Scenario B or Scenario A because it has lower poverty.During the Revolutionary War, the American coloniescould not raise enough tax revenue to fully fund thewar effort. To make up the difference, the coloniesdecided to print more money. Printing money tocover expenditures is sometimes referred to as an“inflation tax.” Who do you think is being “taxed”when more money is printed? Why?Which is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier respective impacts on the rate of the nation's economic growth b) the effect of government regulations on car emissions c) the decision by Mc Donalds to hire fewer workers becuase of an increase in the minimum wage d) the stock market plunges by 1000 points due to uncertainty
- Which was a theory introduced by Adam Smith?Select one:a. Theory of Population.b. Theory of Market Gluts.c. Theory of Economic Development.d. Theory of Income Distribution. Which one was true about Hesiod's thought?Select one:a. Because of unlimited resources, choices had to be made between work and leisureb. Basic economic problem was limited resourcesc. Efficient management required effective leadershipd. Trade was an inferior way of acquiring wealth Which was not a true statement to refer to the economy environment before AD 1500?Select one:a. Strong national statesb. Self-sufficient economyc. Money and credit were not widely usedd. There was little trade Which was not one of the major tenets of the Classical School?Select one:a. Self-interested economic behavior.b. Economic analysis such as Theory of Rent.c. Total government involvement.d. Harmony of interests. Which was not one of the economic justices discussed by Aristotle?Select one:a. Retributive justiceb. Distributive…Cririca/ Thinking Many developed countries, includingthe U.S., have in recent decades become primarily service economies; that is, there is relatively little manufacturing of goods, and most people in the economy are employed by service industries. Why do you thinkthis has occurred? In what ways is this trend a goodand/or a bad thing for a country? Do you think thistrend will continue?MULTIPLE CHOICE (identify the one best answer and provide explanations): Consider an economy inwhich each worker has one machine and one unit of natural resources. Assume these inputs are fixed,and so is the worker’s human capital. But there has been an improvement in technology. We can surelyconclude that productivity has increased if:a. the amount of goods and services produced from each hour of the worker’s time increases.b. the amount of goods and services produced by the worker increases relative to a worker inanother country.c. if the amount of goods and services produced by the worker in a given year increases.d. all of the above.e. none of the above
- Reading Comprehension A. In most countries, the governments spend a lot of money on education. But while most people agree about the importance of education, there are many arguments about how it should be provided. B. So, why do people go through the education system? An obvious answer is: ‘To get jobs.’ But job related skills can be learned in the workplace, so why have a separate education system? There are many possible reasons. General qualifications can help employers compare students and find the most talented, or they can help children develop life skills, such as number skills or reading and writing skills. Schools can also teach young people about other cultures and the world around them, so they can be responsible global citizens. They may want to educate students about where they live, so they can be proud of their country and their background. C. What should be taught to students depends on the purpose of education. Compulsory subjects are the subjects a…True or false? Economic change during the Civil War was part of Charles and Mary Beard meant when they called the war a second American revolution. The textbook makes a case that while the war accelerated prewar trends of innovation in modernization, it was hardly revolutionary in terms of changing the fundamental direction of the economy. And while statistically the war neither accelerated nor retarded long-term economic growth, it did Ladik we alter the section of the tribulation of wealth and output, very much to the advantage of the northHow are today’s business leaders like the robber barons of the 19th century? How are they different? In what ways has the work of Jeff Bezos, Bill Gates, and Mark Zuckerberg benefited society?
- a. If “everyone used to be poor,” then how did some ancient civilizations afford to create massive buildings such as the pyramids of Egypt and the Buddhist statues of Afghanistan? "Everyone used to be poor" is a general statement regarding economic history with some notable exceptions, namely the civilizations that produced these monuments. Ancient civilizations lasted for hundreds of years. The political stability afforded by such longevity outweighed the lack of wealth these civilizations had. Ancient civilizations usually operated under a single ruler, allowing for more efficient allocation of resources than under decentralized power structures such as democracy or competitive markets. Civilizations that controlled many poor people could concentrate their limited wealth and labor resources toward one giant project.Only typed answer and please don't use chatgpt One issue that faces LDCs is lack of education. When an individual is an LDC does manage to acquire an education but leaves to make more money in an industrialized nation , it is referred to as Select one : 1) ex-patriotism 2) educational inequality 3) economic opportunity 4) brain drainEconomic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behave
