International Economics, Student Value Edition Plus MyEconLab with Pearson eText -- Access Card Package (7th Edition)
7th Edition
ISBN: 9780134640266
Author: Gerber, James
Publisher: PEARSON
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Chapter 1, Problem 5SQ
To determine
Relative and absolute measurement of trade and capital flows.
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If a nation exported much of its output but imported little, would it be better off or worse off? How about the reverse; that is, exporting little but importing a lot ?
An empirical fact is that a country with more openness to trade than another also has higher GDP.
True
False
Discuss the importance of terms of trade for countries.
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International Economics, Student Value Edition Plus MyEconLab with Pearson eText -- Access Card Package (7th Edition)
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Advancing technology and falling trade barriers have created more international business opportunities.arrow_forwardWhich trade argument makes the following claim? "A fundamental belief is that the benefits generally outweigh the drawbacks, resulting in significant net gains from trade to the nation and to most of its businesses and consumers." a. the defender against inflation b. inevitable step in development c. trade deficit versus trade surplus d. trade gains versus trade painsarrow_forwardWhich of the following tends to increase trade between countries?a) Larger gross domestic product.b) Linguistic affinity.c) Well-controlled borders between countries.d) Cultural affinity.e) Strict financial market regulationarrow_forward
- Discuss the role of foreign exchange in international trade.arrow_forwardIf the removal of trade barriers is so beneficial to international economic growth,why would a nation continue to restrict trade on some imported or exported products?arrow_forwardFrom the point of view of the domestic standard of living, a country should a. welcome cheap imports b. try to expand exports c. impose tariffs to keep out foreign competition d. try to be self-sufficient.arrow_forward
- Give a concrete example showing how Aid for Trade had succeeded or failed in certain countries. Explain your answer as to why it was observed to have succeeded or failed.arrow_forwardWhich of the following is not limitation of the concept of terms of trade? Select one: a) Base year choice is difficult b) Quality of goods changes c) There are no limitations d) International competitiveness may be compared e) Different countries may use different formulasarrow_forwardIdentify the erroneous term in each item and write the correct word/phrase to revise the statement. "The impact of liberalization of trade and investment has been even as some nations have benefited more than others."arrow_forward
- In your opinion, how can we attract new foreign investors to our country in order to develop our economy?arrow_forwardForeign trade -allows a country to avoid trade-offs - increases the scarcity of resources - allows a country to have a greater variety of products at a lower cost than if it tried to produce everything at home - makes the members of a country more equalarrow_forward
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