Thanks in advance! Please give all statement answer Trade decreases productivity through non-specialization and the accumulation of knowledge. T or F? International trade allows a country to go beyond the domestic production possibility frontier (PFF). T or F? Import quotas place limits on the price of an imported product. T or F? Historical critiques of capitalism revolve around commodity production controlled by capitalists for profit-making based on consumer spending and want free and open markets and deregulation supplies the solution for many problems. T or F?

Thanks in advance! Please give all statement answer Trade decreases productivity through non-specialization and the accumulation of knowledge. T or F? International trade allows a country to go beyond the domestic production possibility frontier (PFF). T or F? Import quotas place limits on the price of an imported product. T or F? Historical critiques of capitalism revolve around commodity production controlled by capitalists for profit-making based on consumer spending and want free and open markets and deregulation supplies the solution for many problems. T or F?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: International Trade

Section: Chapter Questions

Problem 5QP

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The two primary reasons to adopt measures to restrict trade are that a. they help keep real wages high in the importing country, and they also permit small businesses to compete in international markets. b. they may help the importing country improve its educational system, and they keep high-technology products from being stolen by foreign competitors. c. they may help the importing country get better prices for its goods, and they protect certain industries from foreign competition. d. they may help advance the political goals of the nation, and they encourage productivity in domestic industries.
international trade Home has 1200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production in 3, while in bananas production it is 2. There is now also another country, Foreign, with a labor force of 800. Foreign’s unit labor requirement in apple production is 5, while in bananas production it is 2. a) Describe the pattern of trade. Home country should produce? Foreign country should produce? Why?
What is meant by the concept of "trade creation"? a. Inefficient trade that follows the establishment of a free - trade area. b. Trade based on comparative advantage that typically follows the reduction of trade barriers. C. The opening up of new trading routes. d. Regional trade agreements. e. Increased exports and reduced imports as a result of a high-tariff policy.
(a) You have read all the time that trade brings net benefits to nations open to it. But are there any costs or drawbacks that come with open global trade? (b) Consider a country that is open to trade, but is using protectionist policies like tariffs and quotas. Why do you think that most consumers do not vigorously oppose these protectionist policies? (c) Suppose the country in (b) imports and exports goods and services from more than 80 different nations, but the bulk of its imports and exports tend to come from the same five nations. What might be the reasons that the majority of its imports and exports come from only five different nations as opposed to being more evenly spread across the 80 different nations that it trades with?
True/False/Uncertain and Explain Gains from trade arise when countries specialize in producing the goods for which they hold an absolutely advantage and then trade.
international trade Consider a Ricardian model with two countries, the US and Ecuador, producing two goods, bananas and machines. Suppose the unit-labor requirements are: aLBUS= 8, aLBE = 4, aLMUS = 2, aLME = 4. Let the US have 3200 workers and Ecuador have 400 workers. a. What would the pattern of trade be in free trade? Why?
free trade, whereas others are unhapppy, even angry, that the government has reduced regulations on imports of such products as textiles and furniture, causing factories to shut down and employees to lose their jobs. they feel that the U.S. government should legislate greate egulation of imported goods to give American companies an advantage or at least to lessen the advantage that companies in other countries receive from their government. What do you think? How do you justify your answer?
Brazil Poland Wine 10 20 Machines 10 10 The accompanying table gives maximum-output alternatives for Brazil and Poland. If the two nations open up trade with each other, then
international trade Home has 1200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production in 3, while in bananas production it is 2. There is now also another country, Foreign, with a labor force of 800. Foreign’s unit labor requirement in apple production is 5, while in bananas production it is 1. a) Show that how both Home and Foreign country gain from trade.
Exports of goods is a strategy for international companies. Which of the following is not a limitation to export strategy. Select one: a. Threats of quotas b. Threats of import tariffs c. Establishment of trade agreement d. High transportation costs Which of the following represents the stage where economic integration is least complete Select one: a. Free Trade Area b. Monetary Union c. Common Market d. Customs Union Japanese auto producers found it easier to set up operation in US to deal with protectionist threats made by US. Select one: True False Residents of Ireland decide it is cheaper to import 100,000 more bushels of wheat from Canada than it is to reallocate domestic land to wheat production. In this case: a. The opportunity cost of wheat must be lower in Canada than in Ireland b. Ireland has a comparative advantage in wheat production. c. Canada must have an absolute advantage…
If a large country in the world trade instituted a large set of subsidies for its exports, this must Select one: A. have no effect on its terms of trade. B. decrease its marginal propensity to consume. C. improve its terms of trade. X D. harm world terms of trade. E. harm its terms of trade.
We have shown that all individuals and countries can gain from trade. What are some of the reasons why some individuals or countries may object to free trade? Select all that apply. Multiple answers:Multiple answers are accepted for this question a International trade increases susceptibility to global shocks. b Some individuals may lose their job or business as a result of competition from abroad. c International trade can result in greater specialization and therefore higher production and consumption by both countries. d Higher competition as a result of international trade may hurt consumers. Part b: Imagine that the U.S. establishes a tariff on an imported good. Under which of the following situations would the U.S. consumers have to pay a larger proportion of the tariff? a If demand for the imported good is relatively inelastic. b If demand for the imported good is relatively elastic. c If demand for the imported good is infinitely elastic. d The incidence…