There are two questions related to Trade Regulations and Industrial Policies 1. Has industrial policy contributed significantly to Japan's economic growth? 2. Explain how advocates of strategic trade policy differ from the classical free traders in their treatment of externalities?
* The presumed success of Japanese post-war industrial policy has been used to advocate similar policies in other countries.
* Japan has benefited from a high domestic savings rate, an educated and highly motivated labor force, good labor management relations, a shift of labor from low-productivity sectors to high-productivity manufacturing, entrepreneurs willing to assume risks, and the like.
* These factors have enhanced Japan's transformation from a low-technology nation to a high-technology nation. It is debatable how rapidly this transformation would have occurred in the absence of an industrial policy.
* Although Japan has the most visible industrial policy of the industrial nations, the importance of that policy to Japan should not be exaggerated.
* Advocates of strategic trade policy recognize that the classical argument for free trade considered externalities at length.
* The difference, they maintain, is that the classical theory was based on perfect competition and thus could not appreciate the most likely source of the externality, whereas modern theories based on imperfect competition can.
* The externality in question is the ability of companies to capture the fruits of expensive innovation. Classical theory based on perfect competition neglected this factor because large fixed costs arc involved in innovation and research and development, and such costs ensure that the number of competitors in an industry will be small.
There are two questions related to Trade Regulations and Industrial Policies 1. Has industrial policy contributed...
There are two questions related to Trade Policies for the Developing Nations. 1. What are some of the growth strategies that have been employed by the developing nations? How successful are these strategies? 2. Describe the flying-geese pattern of economic growth? What countries have pursued this strategy?
answer these short essay questions. Macroeconomics 1. Name and explain the two schools of thought in macroeconomics. 2. Define structural stagnation. How does it differ from a business cycle? 3. Why is specialization and the division of labor important to economic growth? 4. How do you define " per capital growth"? 5. What are the two growth models? Name the key element that each model is based on. 6. Discuss two sources of economic growth. 7. What role does comparative...
There are two questions related to Foundations of Modern Trade Theory: Comparative Advantage 1.Will it be impossible to keep low-skilled jobs in the U.S.? 2.Is it possible to estimate the gains from trade?
The United States is suffering from a high rate of unemployment. a) Identify two fiscal policy actions that Congress might initiate to solve the problem. b) Using a correctly labeled AD/AS graph, show and explain how the policies you identified in (a) will affect each of the following in the short-run aggregate demand output and employment price level c) Explain how the policies you identified in part (a) will impact real interest rates in the short-run. d) If the interest...
There are two questions related to Sources of Comparative Advantage 1. Explain how immigration and trade may worsen wage inequality, and how college education may mitigate against that. 2. How does Staffan Linder explain world trade patterns?
From the given case study, a) Discuss why Myanmar should or should not use protectionist policies b) Choose a country that also has applied IIP in the past to evaluate its costs and benefits. Myanmar is working hard to make the difficult economic transition from its current status as a Least Developed Country to its once-held spot as one of the most developed Asian economies. Urged on by many international and domestic experts, sweeping liberalisation reforms are being pursued by...
3. Publie Policy Choose ONE of the following topievissues, or use the one that you researched for your public Belcy essay, and then give the information listed in A, B, and C below for that pollution or another negative externality one issue . social security health care international trade "poverty - business regulation For the issue you chose, explain in three separate paragraphs: A Why the government should have policies that deal with the issue. (5) B. What policy the...
Please analyse the case study and answer 2 following questions. Thanks! a) Explain why Myanmar should/should not use protectionist policies b) Present a country that also has applied IIP in the past to evaluate its costs and benefits Myanmar is working hard to make the difficult economic transition from its current status as a Least Developed Country to its once-held spot as one of the most developed Asian economies. Urged on by many international and domestic experts, sweeping liberalisation reforms...
Please solve the final answer for all following 10 multiple choice questions Which argument does not refer to Preferential Trade Agreements (PTAs)? O PTA reduces trade barriers among members but discriminate against non-member countries O PTA promotes regionalism and is as such against the idea of multilateralism in trade O Some people view that the formation of regional trade agreements (RTAs) undermine the WTO O PTA encourages regionalism and it is harmful since it leads to trade diversion O All...
Review Questions 1. Provide two examples of possible patient safety issues related to medication errors and adverse drie events, and demonstrate how a healthcare organization could avoid these safety issues with effective policies and procedures. 2. A physician provided an order for a patient to receive Tylenol if his or her temperature was "> 99.5 degrees F." Is this an acceptable medication order? Why or why not? 3. Detail how laws and regulations have improved the likelihood that a patient...