Homework Answers
ANS
True. the consumers are winners from the imports of free trade as they recieve better quality products and that too in low rates. This is the reason that consumers are termed to be winner of free trade.
ANS
True, the domestic firms which have to compete with the imports are the losers of the free trade as they have to compete with the better quality products and also have to lower their prices and also suffer the losses because of which they have to terminate employees.
ANS
False, as if the exchange rate of Dollar against Euro rises then it means that more dollar will be needed to buy 1 Euro , so the value of dollar will fall.
ANS
False, it is not necessary that winners win more then the losers lose in the free trade as the losers also consists the workers and employee who lose their jobs due to free trade , so it is also possible that losers loose more than the winner wins.
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TF 1. Among the winners with free trade are consumers of imports. TF 2. Among the...
7. A small country imports sugar. With free trade at the world price of $0.10 per...
7. A small country imports sugar. With free trade at the world
price of $0.10 per pound, the country’s national market is:
The country’s government now decides to impose a quota that
limits sugar imports to 240 million pounds per year. With the
import quota in effect, the domestic price rises to $0.12 per
pound, and domestic production increases to 160 million pounds per
year. The government auctions the rights to import the 240 million
pounds.
Calculate how much domestic...
1)Do you think limiting foreign trade is good or bad for American consumers and manufacturers? Justify...
1)Do you think limiting foreign trade is good or bad for American consumers and manufacturers? Justify your argument. 2) More than 400 firms around the world are involved in making the components of the Dreamliner 787. Can you find another example of a product that illustrates the globalization trend nowadays? 3) Who are the winners and losers from free trade?
Back to Assignment Attempts: 2. Winners and losers from free trade Consider the market for meekers...
Back to Assignment Attempts: 2. Winners and losers from free trade Consider the market for meekers in the imaginary economy of Meekertown. In the absence of international trade, the domestic price of meekers is $33. Suppose that the world price of meekers is $25. Assume that Meekertown is too small to influence the world price of meekers once it enters the International market. If Meekertown allows free trade, then it will meekers. dicating whether each of the statements is true...
1.) What a country imposes tariffe, if is likely to cause A.) increase quantities of imports...
1.) What a country imposes tariffe, if is likely to cause A.) increase quantities of imports B higher price for the import competing goods C. lower price for domestic production D.) less expensive export 2.)A(n) is a trade policy by which a nation agrees to limit itseport of a good in order to avond more restrictive trade polices A) Tarif B) (VRA) Voluntary restraint agreement C.Jimport quota D) inpeat ban 3.) Appreciation of the dollar will A. decrease the prices...
Consider trade in automobiles between the United States and Europe. The average European car costs €15,000....
Consider trade in automobiles between the United States and Europe. The average European car costs €15,000. Suppose that the United States does not import any other goods and services from other countries. In March, the U.S. dollar-euro exchange rate is $1.16 per euro, and the United States imports 90,000 European cars at this exchange rate. Therefore, in March, the United States spends a total of on imported European cars. If the total value of U.S. exports is $0.52 billion, the...
(1) Suppose the country of Rotherham is targeted by Home country tariffs. Some possible consequences of...
(1) Suppose the country of Rotherham is targeted by Home country tariffs. Some possible consequences of these tariffs include a.Rotherham residents make fewer visits to the Home country, so they buy fewer Home country products b. the Rotherham government imposes tariffs on Home country products c. Home country firms doing business in Rotherham get treated more harshly by the Rotherham government d. both B and C e.A and B and C (2) There is always a loss of world Total...
QUESTION 1 Suppose the country of Rotherham is targeted by Home country tariffs. Some possible consequences...
QUESTION 1 Suppose the country of Rotherham is targeted by Home country tariffs. Some possible consequences of these tariffs include, a. Rotherham residents make fewer visits to the Home country, so they buy fewer Home country products b. the Rotherham government imposes tariffs on Home country products c. Home country firms doing business in Rotherham get treated more harshly by the Rotherham government d. both B and C e. A and B and C QUESTION 2 There is always a...
Problem 2 Suppose when Japan opens to trade, i imports rice, a labor intensive good. n)...
Problem 2 Suppose when Japan opens to trade, i imports rice, a labor intensive good. n) According to the Heckscher -Ohlin theorem, is Japan capital abundant or labor abundat? Explain. Japan? capital? mobility across industries? Across countries? policies to limit free trade? Why? 2) What is the impact of opening trade on the real wage in 3) What is the impact of opening trade on the real rental rate on 4) What does the Heckscher Ohlin model assume about labor...
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 dis...
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...
Complete the following questions: use specific examples to support your answers. If exports increase and imports...
Complete the following questions: use specific examples to support your answers. If exports increase and imports decrease in the U.S., what happens to the trade deficit? Will this help or hurt the U.S.? In what ways is a bigger trade deficit a problem for the country? What good is the deficit? Hint: Use the currency market supply and demand to determine the exchange rate. In what ways is the trade between countries increasing? Is trade good or bad for U.S.?...
7. A small country imports sugar. With free trade at the world
price of $0.10 per pound, the country’s national market is:
The country’s government now decides to impose a quota that
limits sugar imports to 240 million pounds per year. With the
import quota in effect, the domestic price rises to $0.12 per
pound, and domestic production increases to 160 million pounds per
year. The government auctions the rights to import the 240 million
pounds.
Calculate how much domestic...
Back to Assignment Attempts: 2. Winners and losers from free trade Consider the market for meekers in the imaginary economy of Meekertown. In the absence of international trade, the domestic price of meekers is $33. Suppose that the world price of meekers is $25. Assume that Meekertown is too small to influence the world price of meekers once it enters the International market. If Meekertown allows free trade, then it will meekers. dicating whether each of the statements is true...
1.) What a country imposes tariffe, if is likely to cause A.) increase quantities of imports B higher price for the import competing goods C. lower price for domestic production D.) less expensive export 2.)A(n) is a trade policy by which a nation agrees to limit itseport of a good in order to avond more restrictive trade polices A) Tarif B) (VRA) Voluntary restraint agreement C.Jimport quota D) inpeat ban 3.) Appreciation of the dollar will A. decrease the prices...
Consider trade in automobiles between the United States and Europe. The average European car costs €15,000. Suppose that the United States does not import any other goods and services from other countries. In March, the U.S. dollar-euro exchange rate is $1.16 per euro, and the United States imports 90,000 European cars at this exchange rate. Therefore, in March, the United States spends a total of on imported European cars. If the total value of U.S. exports is $0.52 billion, the...
Problem 2 Suppose when Japan opens to trade, i imports rice, a labor intensive good. n) According to the Heckscher -Ohlin theorem, is Japan capital abundant or labor abundat? Explain. Japan? capital? mobility across industries? Across countries? policies to limit free trade? Why? 2) What is the impact of opening trade on the real wage in 3) What is the impact of opening trade on the real rental rate on 4) What does the Heckscher Ohlin model assume about labor...
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