Do you think that the United States should phase out dependence on imported oil?

Q: Determine whether a country will become a net-importer or netexporter of a good when it moves from…

A: A country's export behavior or import behavior will be determined by its productivity and other…

Q: What  does Mexico import?

A: In international trade, the goods and services are exchanged from one country to another in terms of…

Q: Why does the United States not have an absolute in coffee? Which country is leading in producing…

A: Absolute advantage: A nation has an outright bit of leeway in delivering a decent on the off chance…

Q: Why would U.S. companies consider moving production outside of our country?

A: There are many reasons for moving the production outside of the U.S. one of the main reason is the…

Q: How do you think countries can solve the problem on exportation, particularly on medical products,…

A: Exportation refers to the act of sending goods and services out of the country. A rise in the…

Q: How does global import and export business impact goods from a supply demand perspective when we can…

A: Import and exports are the two pillars of international trade and an open economy. They are the…

Q: What is dumping? Why is this done?

A: International Trade: The word “trade” exhibits the sale and purchase of goods and services. But if…

Q: Suppose the government of the U.S. wants to protect the domestic sugar industry by restricting sugar…

A: Supply is given as Q = P Demand is given as Q = 8 – P World price of sugar is $2/ lb.   When there…

Q: Will nations that are more involved in foreign trade tend to have higher trade imbalances, lower…

A: Foreign trade pattern is depending upon many factors and it is not predictable.   The trade patterns…

Q: Why is the net gain from international trade positive?

A: gain from international trade is positive because in the import market the increase in consumer…

Q: What  does Mexico export?

A: Mexico is a country that is constantly growing and raising its GDP. International rade plays a…

Q: Explain why high tariffs have a negative impact on a country's economy.

A: The objective of this question is to understand the negative impacts of high tariffs on a country's…

Q: import and export?

A: Imports are the goods and services, purchased from the rest of the world by a country, rather than…

Q: Imagine you are an advisor to your government and that your economy faces a problem of declining…

A: The terms of trade deterioration mean that the price of the exports of the goods and services from…

Q: When does a society become an exporter of goods and an importer?

A: International trade is when two economies are agreed to make purchase or sale of various…

Q: Why do countries often protect their economies from imports?

A: Imports and exports of goods and services are made in an open economy where a sale of good to…

Q: Why is it difficult to set international prices?

A: It is observed that when a company operates internationally it has to set its price and product on…

Q: how do trade agreements affect the US economy?

A: Trade agreements are defined as contractual agreements between states or countries concerning their…

Q: If there is a net loss to society from tariffs, why do tariffs exist?

A: A tariff refers to the tax imposed by the government on goods imported into the country.

Q: Small Island Developing States (SIDS), particularly our Caribbean islands, are normally accused by…

A: Since you have asked multiple questions, we have answered the first question for you. If you want…

Q: How can small and large nations gain from trade? How can we estimate the gains from trade?

A: All countries can benefit from trade in a variety of ways. Every day, several nations trade with one…

Q: Define trade liberalization.

A: International trade refers to the exchange of goods and services across the national territory.

Q: What does Globalizing Trade mean? Explain briefly.

A: Globalization implies the speedup of developments and trades (of people, merchandise, and…

Q: If a country closes off to trade and prices remain unchanged, what does that mean?

A: A closed economy refers to one that does not trade with other countries. As a result, the closed…

Q: Belgium is a small country which produces and consumes gooseberries. The quantity demand of…

A: Given:P=rs.15Qd=120-4PQd=120-4(15)Qd=120-60Qd=60

Q: do you believe that a government setting up tariffs and other restrictions to curb outsourcing is a…

A: Governments establish trade barriers to restrict free trade among economies. Trade barriers are…

Q: How do international trade agreements help businesses in the U.S.

A: When two or more nations finalize and are on the same terms of trade, they determine the tariffs…

Q: What do you call the Taxes imposed on goods exported from or imported to a country?

A: In an economy, taxes are classified into different categories according to the activity performed by…

Q: Which of the following is NOT a reason why countries impose tariffs on imports? Protect domestic…

A: Tariff A tariff refers to the tax which is imposed by the Government of a nation on the importation…

Q: Why is global trade important?

A: Global trade means trading( Export and import)  goods and services between the nation's .    Global…

Q: Who loses when a country imports cheaper goods from abroad?

A: In am economy, people generally make import of goods and services that are available at lower price…