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- Are Free Trade Agreements (FTAs) fair? And why you think so?‘Regional trade agreements are changing the landscape of the global marketplace’. 1. Discuss NAFTA and the Economic Union (EU). 2. Explain two benefits and two drawbacks of each of the arrangements discussed.INTERNATIONAL TRADE 1.Graph the production possibility frontier. What will happen if more labor is employed?
- 1. Trade patterns a. How big is world trade today in percentage of world GDP? b. When did world trade begin to grow rapidly? c. Why do you think world trade expanded at that time?What is a free trade1. How a single nation that is engaged in trade of a particular product may be worse off, while the world as a whole benefits from that trade?
- you have been hired by an International Organization to be consulted on various issues that the country Motherland faces. assume that Motherland is a small agricultural economy. 1. Assume that the biggest trading partner of Motherland is the United States. Unlike Motherland, the United States is a large industrial country. What type of trade model can best explain the trade between Motherland and the United States?Question: what are some examples of successful expansion of global trade, countries are seeing, and using, trade as a weapon during and after recessions? please answer in paragraphs, thank you for your time!A semiconductor is a key component in your laptop, cell phone, and iPod. The table provides information about the market for semiconductors in the United States. Producers of semiconductors can get $18 a unit on the world market. a. With no international trade, what would be the price of a semiconductor and how many semiconductors a year would be bought and sold in the United States? b. Does the United States have a comparative advantage in producing semiconductors? c. Draw a graph to illustrate the U.S. supply and demand market for semiconductors. What is the price with free international trade? What is the quantity of semiconductors produced in U.S. and total quantity bought by U.S. people and the quantity exported from other countries? d.Due to loss of competitiveness brought on by appreciation of the exchange rate and the high production costs, U.S. government reduce the export (or limit the supply of domestic producers) by imposing an export quota of 20 billion units per year.…