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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- What are the overall benefits from trade and specialisation?arrow_forwardyou 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?arrow_forwardExplain what world trade means. What is the role ofthe Wto and economic communities in encouragingfree trade? What is the role of the World Bank and theInternational Monetary Fund in global trade? What isprotectionism? Explain import quotas, embargoes, andtariffsarrow_forward
- Why does the government create trade barriers if they can potentially hurt a worker in an economy (due to lower wages)? a. What can be done to avoid trade barriers? b. As a consumer, what are your experiences with trade barriers? c. What alternatives do you recommend to replace trade barriers? Why do you think labor standards and working conditions are lower in developing nations of the world rather than in other countries? Should a country impose higher safety standards on imported goods that exist in the foreign country where the goods were produced? Explain.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_forwardThe goal of multilateral trade agreements is usually toa. equalize the level of tariffs across nations so nonation is disadvantaged relative to others.b. use targeted tariffs to ensure that nationsproduce those goods in which they have acomparative advantage.c. reduce tariffs in various nations simultaneously toblunt political pressure for protectionism.d. ensure that tariffs are used only to promote infantindustries that will eventually become viable.arrow_forward
- which of the following is not a reason for restricting trade?a. Saving domestic jobsb. Preventing rich countries from exploiting developing countriesc. Penalizing lax environmental standardsd. Promoting consumer rightse. Protecting infant industriesarrow_forwardWhich is a benefit of the Central American Free Trade Zone agreement? It allows all participants to create a region-wide health care system. It links regional power supplies between nations. O It minimizes border conflicts between countries. It creates a unified block to slow down outsourcing from the United States.arrow_forwardHow is trade opportunity created from Dubai’s resources and capabilities?arrow_forward
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