Economists believe that there are many nonmonetary gains from further trade opening. Which of the following...
Economists believe that there are many nonmonetary gains from further trade opening. Which of the following is NOT one of those potential gains?
a. Governments will be less reliant on tariff revenue.
b. Intensified competition lowers prices.
c.Economies of scale from increased production decreases costs.
d. Diversification of production lowers risks
Homework Answers
"A"
Government will be less reliant on the tariff revenue is not a non monetary gain form the trade openings. the answer is "A".
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Economists believe that there are many nonmonetary gains from
further trade opening. Which of the following...
Economists generally believe that free trade is good for the economy. Which of the following describes...
Economists generally believe that free trade is good for the economy. Which of the following describes a tradeoff of free trade? Free trade causes some to lose their job from higher competition OFree trade causes inflation from restricted production Free trade costs money due to the subsidies it requires Free trade leads to more efficient production O None of these
that arise ing partners allows the gains from production of a certain product trade between similar...
that arise ing partners allows the gains from production of a certain product trade between similar and workers specialize in the a. splitting up the value chain b. learning and innovation c. economies of scale d. only (b) and (c) rump often suggests increasing tariff in order to reduce the increased, the long-run effect is most likely to be se in Am erican imports, and a decrease in e in American imports, and an i both American import both Americar
91. While comparative advantage is the biggest reason many nations engage in trade, two other important...
91. While comparative advantage is the biggest reason many nations engage in trade, two other important reasons are a. economies of scale and increased competition. b. economies of scale and decreased competition. c. increased competition and increased production costs. d. increased production costs and access to smaller markets. e. decreased competition and access to smaller markets. Use the following scenario to answer the following question: Rosa and Dirk produce basketballs and footballs. Rosa can produce six basketballs per hour or...
1.The following statements about intra-industry trade are true, except one. Which one? a. It reflects the...
1.The following statements about intra-industry trade
are true, except one. Which one?
a. It reflects the trade in similar goods between countries.
b. It results from economies of scale.
c. It results from comparative advantage.
d. It does not affect income distribution as much as
inter-industry trade.
2.Consider the following diagram. P is the autarky
production point, and C is the free trade consumption point.
P1 represents autarky prices and P2
represents free-trade prices.
In this case, the autarky consumption...
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...
Calculate the gains from trade-that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. In the following table, enter this difference in the boxes across the last row (marked "Increase in
3. Gains from trade Consider two neighboring island countries called Euphoria and Arcadia. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor. Initially, suppose Arcadia uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Euphoria uses 3...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between...
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Lecture notes for reference: 2 Subsidies in Strategic Trade Policy This question asks you to show...
Lecture notes for reference:
2 Subsidies in Strategic Trade Policy This question asks you to show that the optimal unilateral subsidy in the strategic trade policy setting is always positive. We will take the example of Boeing and Airbus used in lecture, with all the same parameters. 1. The E.U. government's objective is to maximize domestic profits less the cost of the subsidy. Write down the E.U.'s maximization problem as a function of the chosen quantities of Airbus and Boeing,...
In the midst of the recent development of a potential trade war, the attached WSJ article...
In the midst of the recent development of a potential trade war, the attached WSJ article “Just How Good Is Globalization” is worth revisiting. Summarize the article in about 250 words. What is your opinion of globalization? Wall Street Journal January 25, 2007; Page A10 Just How Good Is Globalization? Question Is Pondered By Key Leaders Amid Workers' Worries By MARCUS WALKER Davos, Switzerland The business and political leaders who gather every year at the World Economic Forum...
Read the following article, relating to monetary policy and inflation in Japan, and answer the following...
Read the following article, relating to monetary policy and inflation in Japan, and answer the following questions. TOKYO (Kyodo) -- The Bank of Japan on Wednesday cut its inflation forecasts for the three years through March 2021, putting its elusive target of 2 percent price gains farther from reach. As widely expected, the central bank's Policy Board also decided after a two-day meeting to keep interest rates at their current ultralow levels as risks including trade friction between the United...
Economists generally believe that free trade is good for the economy. Which of the following describes a tradeoff of free trade? Free trade causes some to lose their job from higher competition OFree trade causes inflation from restricted production Free trade costs money due to the subsidies it requires Free trade leads to more efficient production O None of these
that arise ing partners allows the gains from production of a certain product trade between similar and workers specialize in the a. splitting up the value chain b. learning and innovation c. economies of scale d. only (b) and (c) rump often suggests increasing tariff in order to reduce the increased, the long-run effect is most likely to be se in Am erican imports, and a decrease in e in American imports, and an i both American import both Americar
1.The following statements about intra-industry trade
are true, except one. Which one?
a. It reflects the trade in similar goods between countries.
b. It results from economies of scale.
c. It results from comparative advantage.
d. It does not affect income distribution as much as
inter-industry trade.
2.Consider the following diagram. P is the autarky
production point, and C is the free trade consumption point.
P1 represents autarky prices and P2
represents free-trade prices.
In this case, the autarky consumption...
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...
Lecture notes for reference:
2 Subsidies in Strategic Trade Policy This question asks you to show that the optimal unilateral subsidy in the strategic trade policy setting is always positive. We will take the example of Boeing and Airbus used in lecture, with all the same parameters. 1. The E.U. government's objective is to maximize domestic profits less the cost of the subsidy. Write down the E.U.'s maximization problem as a function of the chosen quantities of Airbus and Boeing,...
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