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- Homework (Ch 09) Q Search th The following graph shows the domestic supply of and demand for maize in Panama. The world price (Pw) of maize is $270 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount dermanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. Domestic Demand Domestic Supply 450 430 410 300 370 350 330 260 270 PRICE (Dollars per ton)One of the global institutions that emerged over the past 75 years is GATT which stands for the General Agreement on Tariffs and O trade O time O targets taxesIn this topic, you are to research globalisation. The business press bombards us with ideas about ‘The shrinkingworld’, ‘the flat world’ and ‘the border-less world’ – all catchphrases to describe the impact of globalisation.But are the (trade) borders really collapsing or are we seeing, post GFC, a resurgence in them? What is behindthe extreme demonstrations against globalisation at G7andWTC conferences?
- Asap plz Do you agree that international trade based on external economies of scale may actuallyleave an economy worse off than it would have been in the absence of international trade?Justify"your answer.The production of international versions of textbookswas concurrent with the explosion of the Internet.Explain why this is likely to be more than just acoincidence.How can governments identify good candidates for infant industry protection? Can you suggest some key characteristics of good candidates? Why are Industries like computers not good candidates for infant industry protection?
- Why might intra-industry trade seem surprising from the point of view of comparative advantage?What factors does Paul Krugman identity that supported expanding international trade in the 1800s?Are the gains from international trade more likely to be relatively more important to large or small countries?
- Does intra-industry trade contradict the theory of comparative advantage?Is it legitimate to impose higher safety standards on imported goods that exist in the foreign country where the goods were produced?Refer to the table below. If Canada and Japan based their trade on comparative advantage, what would be the MAXIMUM number of airplanes that Canada could GAIN if it exports one car? COPYRIGHTED MATERIAL. NOT TO BE SHARED. Hours needed to make one unit: Cars Canada 40 Japan 50 1/12 of a plane 1/4 of a plane 1/3 of a plane 1 plane Airplanes 160 150 Amount produced in 2400 hours: Cars Airplanes 60 48 15 16