When mexico trade cement for US computer, the gains from trade can be expressed as?
When mexico trade cement for US computer, the gains from trade can be expressed as?
Homework Answers
The gains from trade can be expressed as comparative advan tage.
Comparative advantage is when one country is able to produce a good in which it specialises with a lower opportunity cost when compared to it's trading countries. Opportunity cost is the opportunity lost while opting an alternative. Here, Mexico specialises in cement where as US specialises in computers. Since , both country specialises in a particular product, they would have a lower opportunity cost. This would give them the comparative advantage as they have gains from trade.
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When mexico trade cement for US computer, the gains from trade
can be expressed as?
When Mexico trades cement for U.S. computers, the gains from trade can be expressed as: 1....
When Mexico trades cement for U.S. computers, the gains from trade can be expressed as: 1. trade allows Mexico to obtain more computers for the same amount of cement 2. trade allows Mexico to experience a rise in gross domestic product 3. trade allows winners to compensate losers and still come out ahead 4. all of the other answers are correct 5. trade allows the U.S. to obtain cement at a lower resource cost
4. The exchange rate between the US and Mexico is $0.053531/MXN. The US exports $294.0 billion...
4. The exchange rate between the US and Mexico is $0.053531/MXN. The US exports $294.0 billion of goods and services to Mexico and Mexico exports MXN 5,972.0 billion of goods and services to the US. (MXN is the symbol for Mexican pesos.) a. Calculate the indirect (USD/MXN) exchange rate to 4 decimal places (for example, Xxxxx). b. Calculate the value of US exports to Mexico in Mexican pesos. C. Calculate the value of US imports from Mexico in US Dollars....
Who gains more from trade when nations are of unequal economic size? Question 36 5 pts Who gains more from trade when nations are of unequal economic size? HTML Editor You Question 36 5 pts Who...
Who gains more from trade when nations are of unequal economic
size?
Question 36 5 pts Who gains more from trade when nations are of unequal economic size? HTML Editor You
Question 36 5 pts Who gains more from trade when nations are of unequal economic size? HTML Editor You
Suppose that the terms of trade between Mexico and the US are 3.5 tons of avocados...
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The diagram above represents the market for T-shirts in the US,
a small country. Vietnam can produce T-shirts at a constant cost of
$6 per T-shirt. Mexico can produce T-shirts at a constant cost of
$7 per T- shirt. Initially, the US has a $4 tariff per T-shirt. US
consumers regard T-shirts made in the US, Vietnam, and Mexico as
identical.
From which country will the US import T-shirts? Briefly
explain
Draw a supply and demand diagram for the US...
Consider trade relations between the United States and Mexico. Assume that the leaders of the two...
Consider trade relations between the United States and Mexico. Assume that the leaders of the two countries believe the payoffs to alternative trade policies are as follows:
a. What is the dominant strategy for the United States? For Mexico? Explain.b. Define Nash equilibrium. What is the Nash equilibrium for trade policy?c. In 1993 the U.S. Congress ratified the North American Free Trade Agreement, in which the United States and Mexico agreed to reduce trade barriers simultaneously. Do the perceived payoffs...
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The gains from international trade arise basically because: 1. of specialization 2. countries can protect their...
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6. If the relative opportunity costs of producing goods are identical across countries, then there are tary p A. no gains from trade. for t B. gains from trade if trade is based on absolute advan...
6. If the relative opportunity costs of producing goods are identical across countries, then there are tary p A. no gains from trade. for t B. gains from trade if trade is based on absolute advantage mand C. gains from trade if trade is based on comparative advantage pply D. gains from trade that depend on the degree of competition between intemational traders. nd fo 7. The text lists three reasons why economists and non-economists see the pros and cons...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows what 100 workers can produce in one day in each country. Country Car Production-100 Beer Production (truckload)- 100 or workers workers United States 300 or 1200 Mexico 200 1000 or For this question, assume they can use the same workers to produce any amount in between the two and the opportunity cost is constant straight PPF a) Use the info in the table to...
4. The exchange rate between the US and Mexico is $0.053531/MXN. The US exports $294.0 billion of goods and services to Mexico and Mexico exports MXN 5,972.0 billion of goods and services to the US. (MXN is the symbol for Mexican pesos.) a. Calculate the indirect (USD/MXN) exchange rate to 4 decimal places (for example, Xxxxx). b. Calculate the value of US exports to Mexico in Mexican pesos. C. Calculate the value of US imports from Mexico in US Dollars....
Who gains more from trade when nations are of unequal economic
size?
Question 36 5 pts Who gains more from trade when nations are of unequal economic size? HTML Editor You
Question 36 5 pts Who gains more from trade when nations are of unequal economic size? HTML Editor You
The diagram above represents the market for T-shirts in the US,
a small country. Vietnam can produce T-shirts at a constant cost of
$6 per T-shirt. Mexico can produce T-shirts at a constant cost of
$7 per T- shirt. Initially, the US has a $4 tariff per T-shirt. US
consumers regard T-shirts made in the US, Vietnam, and Mexico as
identical.
From which country will the US import T-shirts? Briefly
explain
Draw a supply and demand diagram for the US...
Consider trade relations between the United States and Mexico. Assume that the leaders of the two countries believe the payoffs to alternative trade policies are as follows:
a. What is the dominant strategy for the United States? For Mexico? Explain.b. Define Nash equilibrium. What is the Nash equilibrium for trade policy?c. In 1993 the U.S. Congress ratified the North American Free Trade Agreement, in which the United States and Mexico agreed to reduce trade barriers simultaneously. Do the perceived payoffs...
6. If the relative opportunity costs of producing goods are identical across countries, then there are tary p A. no gains from trade. for t B. gains from trade if trade is based on absolute advantage mand C. gains from trade if trade is based on comparative advantage pply D. gains from trade that depend on the degree of competition between intemational traders. nd fo 7. The text lists three reasons why economists and non-economists see the pros and cons...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows what 100 workers can produce in one day in each country. Country Car Production-100 Beer Production (truckload)- 100 or workers workers United States 300 or 1200 Mexico 200 1000 or For this question, assume they can use the same workers to produce any amount in between the two and the opportunity cost is constant straight PPF a) Use the info in the table to...
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