Which of the following is true? A) The degree of integration among countries under free trade...
Which of the following is true?
A) The degree of integration among countries under free trade area is higher than under custom unions and a common market.
B) The degree of integration among countries under custom unions is higher than under free trade area and a common market
C) The degree of integration among countries under common market is higher than that under custom unions and free trade area.
D) The degree of integration among countries under free trade area is the same as that under custom unions and a common market
Homework Answers
"C"
The common market is the highest level of integration and is more free than the free trade area and custom union. The answer is "C".
Add Answer to:
Which of the following is true?
A) The degree of integration among countries under free trade...
Regional economic integration is an agreement among countries in a geographic area to reduce tariff and...
Regional economic integration is an agreement among countries in a geographic area to reduce tariff and nontariff barriers to the lice flow of goods, services, and factors of production between each other There are costs and benefits associated with regional economic integration. According to economists, the amount of benefits versus COSIS can be measured by whether the integration leads to trade creation versus trade diversion .Row over each product listed and after reviewing the related hint, click and drop them under...
Which of the following is true of trade diversion? A. It occurs when high-cost domestic producers...
Which of the following is true of trade diversion? A. It occurs when high-cost domestic producers are replaced by low-cost producers within the free trade area B. it is the ultimate goal of most free trade agreements C. it occurs when higher-cost external producers are replaced by lower-cost external producers within the free trade area D. it leads to greater economic benefits than trade creation E. it occurs when lower-cost external suppliers are replaced by higher-cost external suppliers within the...
1. Regional trade agreements In the following table, indicate whether each statement about regional trade agreements...
1. Regional trade agreements In the following table, indicate whether each statement about regional trade agreements is true or false. True False Statement Under regional trade agreements, several countries eliminate tariffs among themselves and lower tariffs against all other countries Under GATT, countries that enter into regional trade agreements can increase their tariffs against outside countries. NAFTA member countries maintain a common schedule of tariffs with countries outside NAFTA. A good that Mexico imports from China can be shipped duty-free...
63. Which statement is generally NOT true with regard to the effect of trade on wages...
63. Which statement is generally NOT true with regard to the effect of trade on wages in developing countries? A. Working conditions, although often less pleasant than in developed nations, are generally improved with foreign investment. B. Foreign companies tend to reduce the overall number of jobs available in developing countries. C. Wages offered by foreign companies are generally higher than wages offered by local companies. D. Foreign companies generally pay lower wages in developing countries than they do back...
15. Which of the following does not contribute to a basis for trade between two countries?...
15. Which of the following does not contribute to a basis for trade between two countries? a. different tastes and preferences b. different technologies c. different relative factor endowments d. different absolute factor endowments, but the same relative endowments 16. Given the following graph showing production-possibilities frontiers for country A and country B in a situation where both countries are on the same community indifference curve S, in autarky: good Y Px/Py in country B, and, when trade begins, country...
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in f...
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in few sentences 1. (6 points) In the general neoclassical model with perfect competition, constant returns to scale, homothetic preferences. (a) The consumption bundle under autarky may not be affordable under free trade (b)Let p be the price vector under autarky, p be the price vector under trade, and m be the vector of net imports under trade. Thern , (p* -pP)o (c) With 2...
Question 5 "Free Trade" (with no barriers) is considered to be better than "No Trade" if...
Question 5 "Free Trade" (with no barriers) is considered to be better than "No Trade" if it guarantees a more efficient reallocation of available economic resources within each economy, and between all economies involved in this trade. Question 5 options: True False Question 6 (10 points) Which of the following is an example of government intervention in the free trade, without a directly associated increase in government revenues? Question 6 options: A tariff on an imported product. A tax on...
Which of the following forms of Regionalism has a common currency? Which of the following forms...
Which of the following forms of Regionalism has a common currency? Which of the following forms of Regionalism have a common trade policy with outsiders? In a __________ countries breakdown trade barriers among participating nations, use common barriers to trade with nonmember countries and allow free movement of factors of production between member countries. Economic union entails I. free trade among member countries. II. common barriers to trade for non-member countries. III. free movement of factors of production between member...
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...
Which of the following is true of price discrimination? a. It involves charging whatever the market...
Which of the following is true of price discrimination? a. It involves charging whatever the market will bear. b. In a competitive market, prices may have to be higher than in a market where the firm has a monopoly. c. It makes economic sense to charge the same prices in different countries. d. It exists whenever consumers in different countries are charged the same price for the same product, irrespective of variations. e. It cannot help a company maximize its...
Regional economic integration is an agreement among countries in a geographic area to reduce tariff and nontariff barriers to the lice flow of goods, services, and factors of production between each other There are costs and benefits associated with regional economic integration. According to economists, the amount of benefits versus COSIS can be measured by whether the integration leads to trade creation versus trade diversion .Row over each product listed and after reviewing the related hint, click and drop them under...
1. Regional trade agreements In the following table, indicate whether each statement about regional trade agreements is true or false. True False Statement Under regional trade agreements, several countries eliminate tariffs among themselves and lower tariffs against all other countries Under GATT, countries that enter into regional trade agreements can increase their tariffs against outside countries. NAFTA member countries maintain a common schedule of tariffs with countries outside NAFTA. A good that Mexico imports from China can be shipped duty-free...
15. Which of the following does not contribute to a basis for trade between two countries? a. different tastes and preferences b. different technologies c. different relative factor endowments d. different absolute factor endowments, but the same relative endowments 16. Given the following graph showing production-possibilities frontiers for country A and country B in a situation where both countries are on the same community indifference curve S, in autarky: good Y Px/Py in country B, and, when trade begins, country...
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in few sentences 1. (6 points) In the general neoclassical model with perfect competition, constant returns to scale, homothetic preferences. (a) The consumption bundle under autarky may not be affordable under free trade (b)Let p be the price vector under autarky, p be the price vector under trade, and m be the vector of net imports under trade. Thern , (p* -pP)o (c) With 2...
Most questions answered within 3 hours.
-
If domestic savings are insufficient to finance domestic private
investment and exports are greater than imports,...
asked 2 seconds from now -
Q.4.
Use the format in Exhibit 9-1 to compute the ending LIFO
inventory and cost of...
asked 5 minutes ago -
Discuss the different receiving and dispatch equipment required
for uploading and loading different types of material...
asked 10 minutes ago -
Which of the following is true for simultaneous testing?
a. Net specificity is greater than the...
asked 14 minutes ago -
Discuss the importance of homologous recombination and
transposition in natural horizontal gene transfer and evolution. Be...
asked 18 minutes ago -
Brittle material has the properties Sut = 30 kpsi and Suc = 90
kpsi. Using the...
asked 17 minutes ago -
*
write about Plastic recycling statistics ( Plastic recycling rate )
last two years , i...
asked 16 minutes ago -
The activation energy for a given reaction is 50.3 kJ/mol. If
the rate constant for the...
asked 1 hour ago -
An entomologist discovers a dung beetle rolling a ball of dung
along the ground, and decides...
asked 2 hours ago -
Humans have used horses for transportation for millions of
years. Therefore, they will use horses for...
asked 4 hours ago -
The following are the Jensen Corporation's unit costs of making
and selling an item at a...
asked 5 hours ago -
Does direct Medicare reimbursement of Advanced practice nurses
increase access to their services?
asked 6 hours ago