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Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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
Transcribed Image Text:b) “International trade is beneficial to developing countries." Do you agree? Discuss your arguments with
the support of at least one international trade theory.
c) As a trade specialist, outline the policies which the Botswana government can use to promote
international trade.
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- If trade increases world GDP by 1 per year, what is the global impact of this increase over 10 years? How does this increase compare to the annual GDP of a country like Sri Lanka? Discuss. Hint To answer this question, here are steps you may want to consider. Go to the World Development Indicators (online) published by the World Bank. Find the current level of World GDP in constant international dollars. Also, find the GDP of Sri Lanka in constant international dollars. Once you have these two numbers, compute the amount the additional increase in global incomes due to trade and compare that number to Sri Lankas GDP.arrow_forwardDoes international trade, taken as a whole, increase the total number of jobs, decrease the total number of jobs, or leave the total number of jobs about the same?arrow_forwardHow does international trade affect working conditions of low-income countries?arrow_forward
- In principle, the benefits of international trade to a country exceed the costs, no matter whether the country is importing or exporting. In practice, it is not always possible to compensate the losers in a country, for example, workers who lose their jobs due to foreign imports. In your opinion, does that mean that trade should be inhibited to prevent the losses?arrow_forwardIf the removal of trade banters is so beneficial to international economic growth, why would a nation continue to restrict trade on some imported or exported products?arrow_forward
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