Non-agricultural guest workers are generally allowed to bring their families to the United States. a. True O b. False

Consider two countries Home and Foreign producing goods using only one factor of production, Labor.  These are the marginal products of labor. Home has 100 people and foreign has 50 people.   Home:                     Wheat                     4 bushels                                  Cloths                     2 yards Foreign:                 Wheat                     1 bushel                                   Cloths                     1 yard           Assuming there is no trade, draw production possibility frontiers of two countries. With no trade, what are the relative prices of wheat and cloths in two countries? What will happen when they begin to trade?

What is voluntary export restraint and when is it imposed? What are the benefits of VER?  How can it affect the exporting country? How will it affect the country being exported?

When a government imposes a tariff on a product, the domestic price will equal the world price. a. True b. False

Please explain why the answer is false. Specializing in its comparative advantage and trading with other nations benefit a country in terms of its total output but not individuals when it comes to their wages.a.Trueb.False

Why are international negotiations important in order to reduce tariff rates​ worldwide?      A. Special-interest groups cannot affect international negotiations.   B. Large countries can impose policy restrictions on smaller countries.   C. They help avoid trade wars.   D. The world as a whole gains from free trade.

When a small economy imposes a tariff on imports, net welfare O always increases. O always decreases. O may increase, decrease, or remain unchanged.

Remember: free trade is not free-it requires constant efforts and sacrifices to demonstrate, safeguard, and advance the gains from such trade. Which implication is this related to for savvy managers? a. that comparative advantage is not fixed b. that political realities emphasize the institution-based view O O c. location, location, location d. managers needing to be politically savvy

Germany 300 900 T-shirts per year Turkey 500 250 T-shirts per year The opportunity cost of producing an optical instrument in Germany is| t-shirts per year. Optical instruments per year Optical instruments per year