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2 Nov 2020

14. The countries practice intra-industry trade, in which they import and export the same products at the same time, like cars, machinery, and computers. True or False.

a. True

b. False

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Understanding the reason behind Intra-industry Trade between Similar Economies

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The simultaneous import and export of goods in the same industry by a particular country are known as interindustry trade. a. True b. False

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13. In intra-industry trade, the level of worker productivity is not determined by climate or geography. It is not even determined by the general level of education or skill. Instead, the level of worker productivity is determined by how firms engage in specific learning about specialized products, including taking advantage of economies of scale. In this vision, comparative advantage can be dynamic.

True or False.

a. True

b. False

(a) Choose the Correct Answer: Based on Figure 1, what do we know about voluntary trade that makes both countries better off? i. Boblandia will export medicine to Gazzalestan in exchange for food. ii. Gazzalestan will export medicine to Boblandia in exchange for food. iii. Trade can make both better off, but we do not know which country will export which good. iv. Trade that makes both countries off is not possible. 4. True, False, or Uncertain Assume that each of two countries (Gazzalestan and Boblandia) can produce food and medicine. Assume each faces a constant opportunity cost of producing food, but this constant opportunity cost differs across countries. Finally, assume that if both Gazzalestan and Boblandia specialize in food production, Gazzalestan would produce more food. TFU: If trade results in one country specializing in food production, it will be Gazzalestan.

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14. The countries practice intra-industry trade, in which they import and export the same products at the same time, like cars, machinery, and computers. True or False.

a. True

b. False

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Principles of Economics

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14. The countries practice intra-industry trade, in which they import and export the same products at the same time, like cars, machinery, and computers. True or False. a. True b. False

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Related textbook solutions

Principles of Economics

Principles of Macroeconomics

Principles of Microeconomics

Related questions

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14. The countries practice intra-industry trade, in which they import and export the same products at the same time, like cars, machinery, and computers. True or False.

a. True

b. False