Which of the following statements is true? A. Free trades benefits a country when it exports...
Homework Answers
Ans:
Option D
Free trade benefits a country both when it exports and when it imports.
The benefits of free trade include economic growth, enhanced efficiency, increased innovation and increased access to higher-quality and lower-priced goods.These benefits increases when both exports and imports increases.
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Which of the following statements is true?
A. Free trades benefits a country when it exports...
hich of the following statements about a free trade agreement is accurato? The gains are shared...
hich of the following statements about a free trade agreement is accurato? The gains are shared equally by each member. Increased competition can result in higher commodity prices in the domestic markets of the member countries. Supplier firms might benefit from economies of scale that allow them to lower average costs t can increase the opportunities for domestic business investments but will decrease foreign direct investment into the member countries QUESTION 5 Suppase that the WTO determines that one of...
When a country seeks to maintain a balance-of-trade surplus by reducing imports, stimulating home production, and...
When a country seeks to maintain a balance-of-trade surplus by reducing imports, stimulating home production, and promoting exporting exports, it is practicing 5. a. autarky b. socialism c. neomercantilism d. capitalism 6. The end of Bretton Wood system occurred in 1971 when President Richard Nixon announced the United States would a. pursue a policy of detente with the USSR b. establish diplomatic ties with China c. no longer exchange dollars for gold d. stop accepting petrodollars 7. A trade poliey...
apter 6 Name When a firm in another country outsources a function to a US company....
apter 6 Name When a firm in another country outsources a function to a US company. Domestic price of a foreign currency. Exchange rates determined by supply and demand. That part of a country's balance of payments that includes trade, income from investments, and foreign aid. That part of a country's balance of payments that includes investments made in other countries and foreign investments in the domestic country. KEY TERMS ILI ILIIVI D d 1. Having an absolute advantage 2....
Which of the following is NOT one of the possible benefits for a country that participates...
Which of the following is NOT one of the possible benefits for a country that participates in international trading? OA May bring in needed capital OB. Causes hyper-inflation OC. Creates jobs and raises wages OD. May bring in technology and skills Adam Smith believed that OA market forces should determine trade flows OB countries should produce most goods themselves and trade as little as possible O international trade should be restricted by tariffs and quotas OD governments should determine trade...
As a result of U.S. quotas on sugar imports, all of the following are true, EXCEPT:...
As a result of U.S. quotas on sugar imports, all of the following are true, EXCEPT: Question 2 options: a) the United States pays about twice the world price for sugar. b) the gains to American producers are greater than the losses to American consumers. c) foreign sugar producers—mostly in poor countries—suffer. d) a small group of domestic sugar producers benefit. Taxes and quotas on imports can ______ jobs in industries that import and ________ jobs in industries that export....
When the North American Free Trade Agreement (NAFTA) started in 1994, many were worried that large...
When the North American Free Trade Agreement (NAFTA) started in 1994, many were worried that large job losses in the U.S. textile industry would occur as companies moved production from the United States to Mexico. NAFTA opponents argued passionately, but unsuccessfully, that the treaty should not be adopted because of the negative impact it would have on U.S. employment. A quick glance at the data available 10 years after the passage of NAFTA suggests the critics had a point. Between...
International Trade Case
Countries measure the health of their economies in many ways such as unemployment rates, consumer confidence, and Gross Domestic Product (GDP). Gross Domestic Product is a measurement of the amount of goods produced by a country in one year. If that number increases, our economy is growing, whereas a decrease would indicate a shrinking economy. To calculate expenditure GDP we add up all of the groups who buy goods in the economy (GDP = C + I + G +...
In many cases, the reason tariffs and quotas are imposed is that they create net benefits...
In many cases, the reason tariffs and quotas are imposed is that they create net benefits in the long run. they reduce import dependence. their costs are spread among many people and their benefits are concentrated. their costs are concentrated and their benefits are spread among many people. DQuestion 20 1 pts Usually the removal of trade barriers affecting a particular good benefits domestically, each of whom gains a people a few little many; lot a few lot many: little...
QUESTION 16 If the world price of cotton is less that the price that would occur...
QUESTION 16 If the world price of cotton is less that the price that would occur domestically without trade, then a country will decrease its demand for cotton and increase its demand for cotton substitutes increase its demand for cotton and decrease its demand for cotton substitutes import cotton export cotton QUESTION 17 A trade quota is a restriction on the quantity of goods that can be imported a tax on imports a tax on exports the restriction of trade...
The current market price is above the equilibrium price. Which of the following is true? A....
The current market price is above the equilibrium price. Which of the following is true? A. There is pressure for the market price to increase due to competition among sellers. B. There is pressure for the market price to decrease due to competition among buyers. C. There is pressure for the market price to decrease due to competition among sellers. D. There is pressure for the market price to increase due to competition among buyers. 2)Draw a graph to show...
hich of the following statements about a free trade agreement is accurato? The gains are shared equally by each member. Increased competition can result in higher commodity prices in the domestic markets of the member countries. Supplier firms might benefit from economies of scale that allow them to lower average costs t can increase the opportunities for domestic business investments but will decrease foreign direct investment into the member countries QUESTION 5 Suppase that the WTO determines that one of...
When a country seeks to maintain a balance-of-trade surplus by reducing imports, stimulating home production, and promoting exporting exports, it is practicing 5. a. autarky b. socialism c. neomercantilism d. capitalism 6. The end of Bretton Wood system occurred in 1971 when President Richard Nixon announced the United States would a. pursue a policy of detente with the USSR b. establish diplomatic ties with China c. no longer exchange dollars for gold d. stop accepting petrodollars 7. A trade poliey...
apter 6 Name When a firm in another country outsources a function to a US company. Domestic price of a foreign currency. Exchange rates determined by supply and demand. That part of a country's balance of payments that includes trade, income from investments, and foreign aid. That part of a country's balance of payments that includes investments made in other countries and foreign investments in the domestic country. KEY TERMS ILI ILIIVI D d 1. Having an absolute advantage 2....
Which of the following is NOT one of the possible benefits for a country that participates in international trading? OA May bring in needed capital OB. Causes hyper-inflation OC. Creates jobs and raises wages OD. May bring in technology and skills Adam Smith believed that OA market forces should determine trade flows OB countries should produce most goods themselves and trade as little as possible O international trade should be restricted by tariffs and quotas OD governments should determine trade...
In many cases, the reason tariffs and quotas are imposed is that they create net benefits in the long run. they reduce import dependence. their costs are spread among many people and their benefits are concentrated. their costs are concentrated and their benefits are spread among many people. DQuestion 20 1 pts Usually the removal of trade barriers affecting a particular good benefits domestically, each of whom gains a people a few little many; lot a few lot many: little...
QUESTION 16 If the world price of cotton is less that the price that would occur domestically without trade, then a country will decrease its demand for cotton and increase its demand for cotton substitutes increase its demand for cotton and decrease its demand for cotton substitutes import cotton export cotton QUESTION 17 A trade quota is a restriction on the quantity of goods that can be imported a tax on imports a tax on exports the restriction of trade...
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