The value of the currency of Country X appreciates relative to the currency of Country Y. How will US O A Producers in Country Y will benefit from a decline domestic competition OB Producers in Country X will benefit from increased consumption of their goods in Country Y. O C. Producers in Country X will benefit from a decline domestic competition. O D Producers in Country Y will benefit from increased consumption of their goods in Country X.
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- Canada is both an importer and an exporter of cars. If Canada exports more cars than it imports and the price of cars rises, then ceteris paribus, Canada's terms of trade... Deteriorates because the gain in imports more than offsets the loss of exports. o b. Remains the same because the index of export prices rises by the same amount as the index of import prices. O c. Improves because the index of export prices rises and the index of import prices falls. o d. Improves because the index of export prices rises more than the index of import prices. Deteriorates because of the loss of exports that would result.Assuming there is no foreign trade in the economy, the economy is in equilibrium when Select one: O O O a. I + G= S + T. b. G +T=S+I. c. S+ T = C + I. d. IT = S + G.Suppose that one country (Country A) subsidizes its exports and the other country (Country B) imposes a "countervailing" tariff that offsets its effect, so that in the end relative prices in the second country are unchanged. What happens to the terms of trade? What about welfare in the two countries? O A. From Country A's perspective, world relative supply will increase and world relative demand will increase. This will improve its terms of trade. The countervailing tariff exacerbates this effect so Country A will definitely gain and Country B definitely loses. O B. From Country A's perspective, world relative supply will decrease and world relative demand will increase. This will improve its terms of trade. The countervailing tariff exacerbates this effect so Country A will definitely gain and Country B definitely loses. C. From Country A's perspective, world relative supply will decrease and world relative demand will increase. This will worsen its terms of trade. The countervailing…
- A balance of payments is O the arbitrage potential caused by difference in real prices of goods in different countries. O a register of all trade between two nations. O a record of all payments between one nation and the rest of the world. O the account of all payments for goods and services from one nation to another. O the difference in exchange rates between two currencies.An export subsidy always makes a country worse off on net. O True O FalseIn our pretend world there are two countries - Chile and Switzerland - that are engaged in trade. The firm Switzerland Chocolates Express sells Boxes of chocolate (a good) in Chile. Each Box of Chocolates sells for 6500 Chilean pesos in Chile. In Switzerland, each box of chocolates 11 Swiss Franc to produce. Assume that the firm has 1 million boxes of chocolate to sell. How much money (in Swiss Franc) would the firm make (or lose) on the sale at the following exchange rates: Rate 1: 550 Pesos per Swiss Franc Rate 2: 0.0015 Swiss Franc Per Chilean Peso
- 15. While import tariffs and import quotas can both be used to protect domestic producers, the import quota is the more effective policy when the policy goal is O a. To raise government revenue O b. To protect producers from declines in domestic demand O. To minimize the inefficiency of the trade barrier O d. To protect domestic producers from declines in the world priceAssume, for Vietnam, that the domestic price of textiles without international trade is lower than the world price of textiles. This suggests that, in the production of textiles, O Vietnam has a comparative advantage over other countries and Vietnam will export textiles. O other countries have a comparative advantage over Vietnam and Vietnam will export textiles. O other countries have a comparative advantage over Vietnam and Vietnam will import textiles. O Vietnam has a comparative advantage over other countries and Vietnam will import textiles. MacBook A esc D00 FA F1 F2 F3 FS % 4 Q W E R T tab I A S D F G s lock2 3. 4 O The balance of trade equals exports minus imports. O Since the inception of NAFTA, U.S. exports to Mexico have grown from $50 billion to $221 billion, while imports from Mexico have risen from $49 billion to $270 billion. During that same period, U.S. exports to Canada have grown from $114 billion to $287 billion, while imports from Canada have risen from $128 billion to $317 billion. Select two trends from the list below that have resulted from the NAFTA agreements: a. Canada's balance of trade with the U.S. has increased. b. Mexico's balance trade with the US has decreased. c. Mexico's balance of trade with the U.S. has increased. d. Net trade between United States and Canada has not changed. e. Net trade between United States and Mexico has not changed. Canada's balance f trade with the US has decreased
- A "static" gain resulting from the formation of the European Union or the U.S.-Mexico-Canada Trade Agreement would be O expanded size of the market due to trade, resulting in economies of large-scale production and decreasing unit cost. outward shifts in a country's production possibilities frontier made possible by the discovery of new technologies. O facing lower priced, zero-tariff imports from members, consumers increase their demand for these goods, and new trade will be created O increased saving and investment resulting in capital accumulation and economic growth.Country. Oil. Lumber Uganda. 20. 40 Kenya. 60. 30 * State a country of absolute advantage in each commodity** State the commodity of comparative advantage in each country*** Compute the gains from trade arising from specialisation for each countryc) Using clear diagrams ,explain the concepts of currency appreciation and depreciation arising from changes in exports and imports.Consider the imaginary economy of Meekerton and the market for meekies, a hypothetical good. Without international trade the domestic price of meekies is $23. Suppose that the world price of meekies is $24. Assume that if it were to enter the international market for meekies, Meekerton is too small to influence the world price. If Meckerton decides to participate in free trade, then it will import Given current economic conditions in Meckerton, complete t export import O True O False meekies. og table by indicating whether each of the statements is true or false. Statement Meckertonian producers were worse off without free trade than they are with it. Meekertonian consumers were better off without free trade than they are with it. True False O O True or False: When a nation is too small to affect world prices, allowing free trade will have a non-negative effect on total surplus in that country, regardless of whether it imports or exports as a result of international trade.