Log in
Economics
1
answer
0
watching
58
views

5.10 Suppose that all three nations agree to remove remaining barriers to trade among the entire set, so that the world becomes a free trade area. Country C is twice as far from both country A and country B as country A and country B are from one another. In addition, country A and country B are of equal size, but country C is half as large. Are trade flows likely to be unequal even with unhindered trade? If so, how?

Watch
1
answer
0
watching
58
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Paramjeet Chawla
Paramjeet ChawlaLv8
28 Sep 2019

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

The largest corporation based in the United States is:

A) General Motors.
B) ExxonMobil.
C) General Electric.
D) Microsoft.

2.

Service exports from the United States equal _____ per year.

A) less than $100 billion
B) approximately $250 billion
C) less than $350 billion
D) approximately $500 billion

3.

In addition to agricultural products and manufactured goods, the United States is also the world's largest exporter of:

A) processed and packaged foods.
B) pharmaceuticals.
C) electronics.
D) business services and retailing.

4.

Before entering a country, marketers need to determine if the country has the required _____ to support their marketing efforts.

A) moral code
B) legal system
C) infrastructure
D) trade bodies

5.

In order for a marketer to operate efficiently in a foreign country, it is crucial that a stable _____ be in place to facilitate trade.

A) free trade agreement
B) tariff
C) infrastructure
D) labor force

6.

Which of the following is not a trade barrier to an exporter?

A) Tariffs
B) Import quotas
C) Subsidies
D) Related party trade

7.

A complete ban on the import of a product is known as a(n):

A) import quota.
B) embargo.
C) revenue tariff.
D) protective tariff.

8.

Exchange control is an administrative barrier to international trade that:

A) requires companies that export to sell foreign currencies to the central bank or other foreign agency, and importers to buy foreign currencies from the same organization.
B) supports domestic industry through grants of money or research support.
C) completely bans the importation of a product.
D) sells products in a foreign market cheaper than they are sold domestically.

9.

When a group of nations agree to the free trade of goods among themselves by abolishing tariffs and trade restrictions, the nations have created a:

A) common market.
B) customs union.
C) trading block.
D) free-trade area.

10.

Which of the following is not an objective of the European Union(EU)?

A) eventually remove all trade barriers to free trade among its members.
B) standardize currencies and regulations between member nations.
C) promote the basic tenets of the WTO and GATT treaty.
D) eventually evolve into an independent political entity.

11.

An organization that provides first-time exporters with expertise in locating foreign buyers, handling paperwork, and conforming to local labeling and testing laws is called a(n):

A) export facilitator.
B) export title company.
C) trade assistance corporation.
D) export management company.

12.

McDonald

Interanational Business Question:

- Mercantilism is a bankrupt theory that has no place in the modern world. Discuss.

- Is free trade fair? Discuss!

- Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as "unfair" import competition. Is such competition "unfair"? Do you think that this argument is in the best interests of (a) the unions, (b) the people they represent, and/or (c) the country as a whole.

- Drawing upon the new trade theory and Porter's theory of national competitive advantage, outline the case for government policies that would build national competitive advantage in biotechnology. What kinds of policies would you recommend the government adopt? Are these policies at variance with the basic free trade philosophy?

- The world's poorest countries are at a competitive disadvantage in every sector of their economies. they have little to export. they have no capital; their land is of poor quality; they often have too many people given available work opportunities; and they are poorly educated. free trade cannot possibly be in the interests of such nations. Discuss.

11. Indonesia, Vietnam, Thailand, and the Philippines are members of the __________.

A. Organization of Petroleum Exporting Countries

B. Association of Southeast Asian Nations

C. Dominican Republic-Central America Free Trade Agreement

D. North American Free Trade Agreement

___________________________________________________________

7. Which of the following is an example of an autonomous agency of the United Nations?

A. North Atlantic Treaty Organization

B. Security Council

C. World Trade Organization

D. International Monetary Fund

------------------------------------------------------------------------------------

3. Which of the following is provided under the Foreign Sovereign Immunities Act?

A. rules for conflict resolution among DR-CAFTA members

B. endowment of the president with powers to enter into treaties with foreign nations

C. guidelines to govern suits against foreign nations within the United States

D. regulation of commerce between the United States and foreign nations

_____________________________________________________________________

15 .Throughout Christianity, divine and natural laws have been issued in the form of __________.

A. edicts

B. conventions

C. novations

D. canons

_________________________________

18. Which of the following is true of the International Monetary Fund?

A. The IMF is a federal body that consists of representatives from all the states, including federal experts.

B. The IMF is funded from the Superfund created by the Comprehensive Environmental Response, Compensation, and Liability Act.

C. The IMF is an autonomous agency under the UN which promotes sound monetary, fiscal, and macroeconomic policies worldwide.

D. The IMF is responsible for providing one-time grants to needy countries with no terms and conditions attached to the assistance.

____________________________

19. Which of the following statements is true of the NAFTA?

A. It allows a member country to reimpose tariffs if imports are hurting that country's economy or its workers.

B. It disallows any special protection from being extended to specific industries.

C. It disallows NAFTA members from trading with other countries unless a unanimous permission is obtained.

D. It has been hailed by economists as a perfect example of a free trade pact.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in