Suppose the United States passed a law stating that we could not purchase imports from any country that imposed any trade restrictions on our exports. Who would benefit and who would lose from such retaliation?

Q: What will the effect of the new price for dollars be on export trade between South Africa and the…

A: The foreign exchange market determines the exchange rate of a currency. To represent the foreign…

Q: Firms hurt by lower priced imports typically argue that restricting trade will save U.S. jobs.…

A: Free trade is an unrestricted trade policy that encourages the flow of commodities and services…

Q: Bahrain and Bhutan each have 10,000 hours of labor per month. In Bahrain,producing one pound coffee…

A: International trade refers to the import and export of goods and services among different countries…

Q: The U.S. currently trades with China. Suppose the U.S. has a comparative advantage in the production…

A: A country is said to have comparative advantage in producing a good if the opportunity costs of…

Q: Which of the following arguments for limitations on trade is more controversial among economists?…

A: There is an extensive rundown of stresses over foreign exchange labor and products: feeling of dread…

Q: As a country develops economically, what changes usually take place in the goods it exports? Select…

A: The branch that deals with the department where the primary goal is the betterment of economic,…

Q: True or false? Free trade causes job losses in industries in which a country does not have a…

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: Imagine you are an advisor to your government and that your economy faces a problem of declining…

A: The terms of trade deterioration mean that the price of the exports of the goods and services from…

Q: Based on Comparative advantage, what factors have helped the united states to become the world's…

A: The country that can produce a good at a lower opportunity cost compared to the other countries, the…

Q: (arguments of Trade Restrictions) Firms hurt by lower priced imports typically argue that…

A: This argument is not true in reality. Restricting trade will only a few firms and allow them to…

Q: Answer in 5 sentences each questions. 1. What would happen to a country if they limits the…

A: Answer-

Q: Why might Belgium, France, Italy, and Sweden have a higher export to GDP ratio than the United…

A: Export to GDP ratio = how much a country exports/country's GDP  The main reason behind these…

Q: "Chinese workers earn only $0.75 an hour; if we allow China to export as much as it likes, our…

A: Meaning of Trade: The term trade refers to the situation under which the products and goods are…

Q: Which of the following is not a true statement about gains from trade? Select the correct answer…

A: Here , we have to find which option is not a true statement about gains from trade.

Q: It is often asserted that the United States no longer manufactures anything, and that instead it…

A: United States no longer manufactures anything Manufacturing in the United States is a vital sector.…

Q: If each country specializes in the good in which it has a comparative advantage,....will gain from…

A: Introduction According to comparative advantage, countries will trade with others, exporting…

Q: Predict what each of the following events would do to the terms of trade of the importing country…

A:

Q: In 2015, the European Commission proposed giving individual member states the right to ban imports…

A: Genetically Modified Organisms(GMO) are products that have been worked on in laboratories to…

Q: How important is international trade to the United States? Are other countries more or less…

A: America could not become a rich country unless it could sell its product its goods and services…

Q: Which of the following is an argument for restricting trade?   Question 30 options:   Trade…

A: Free trade is beneficial for all the countries. It might harm one group and benefit other, but the…

Q: Which of the following trade policies limits specific quantity of goods to be imported at one tariff…

A: In an economy, there are various methods to reduce the amount of goods and services imported by the…

Q: Would the U.S. government gain any advantage from using tariffs or quotas to restrict imports?

A: Trade restrictions: -trade restrictions are the barriers imposed on international trade by the…

Q: A- What is the difference between Absolute and Comparative Advantage. B- Describe the methods of…

A: When various nations engage in the exchange of commodities and also services, it is known as…

Q: Trade between the United States and Honduras         is a losing proposal for the U.S. because…

A: Honduras is a Central American country with population of around 9.3 million people. Honduras and…

Q: American worker takes 20 hours to produce one computer and 300 hours to produce an RV. A Japanese…

A: A American worker takes 20 hours to produce one computer and 300 hours to produce an RV A Japanese…

Q: Is it good or bad for American consumers when the United states puts tariffs on imports

A: Tariffs are a particular tax imposed at the border on goods that are imported. Tariffs have…

Q: Suppose the relative price of good A before trade is equal to one in the home country and two in the…

A: According to the question, the three is two countries home and foreign both have a different…

Q: Now suppose that a country is experiencing balanced trade. Determine the relationships between the…

A:

Q: Q95 The division of the gains from trade between two trading countries depends on the... a.…

A: The division of the gains from trade between two trading countries depends on the difference between…

Q: If France is said to have an absolute advantage over Mexico in the production of wheat, this means…

A: If there is two country A and B producing good x and country A has an absolute advantage in…

Q: Which of the following arguments for limitations on trade is more controversial among economists?…

A: In an open economy, government generally intervene in the international trade by using its policies,…

Q: Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523…

A: The cost of producing 1 unit of food in terms of how many fuels can be calculated as follows:…

Q: Trade models claim that the condition of trade is generally always better than the condition of no…

A: Almost every economist propose the theory of free Trade. The government has to choose between two…

Q: At one time, it was believed that the way for a nation to prosper was to export as much as possible…

A: In an open economy, the level of imports and exports of a country make up components of the…

Q: Assume the production of chocolate is capital-intensive and the production of fruit is…

A: Comparative advantage is an economy's ability to produce a good or service at a lower opportunity…

Q: To produce 1 unit of cotton country X uses 25 units of labor and country Y uses 16 units of labor.…

A: When a country has low absolute disadvantage in the production of a Good A in comparison to the…

Q: Using a graph of offer curves, for each of the following, identify the effect of the change listed…

A: The Offer Curve shows us what quantities of a good are an exporter willing to exchange in return for…

Q: Shoes are labor-intensive and satellites are capital-intensive to produce. The United States has…

A: Heckscher-Ohlin theory is an international trade theory based on the comparative cost advantage and…