Question 25 Economists favor free trade based on the theory of comparativelabsolute advantage, which recommends specialization and trade to increase world output. Are there real-life problems with this theory Oa. Yes. Countries may not want to depend on others for important items. O b. No. This theory means we miss out on the benefits of trade wars, which is a big loss. Oc. Both "yes" answers are correct. Od. Yes. Specialization can be risky, so diversification may be safer.

Need help

Q32 A country that engages in no foreign trade is said to be in a situation of... a. Reciprocal absolute advantage. b. Absolute advantage. c. Comparative advantage. d. Economic empowerment. e. Autarky. Clear my choice

urgently need

If the Turks and Caicos Islands (TCI) has a comparative advantage in Conch production over the Bahamas, then... O a. The TCI can produce conch with less resources O b. The TCI has a lower opportunity cost than the Bahamas in the production of Conch OC. Both countries are wasting resources Od. The TCI will not trade with the Bahamas

Table 3-5 England Spain Labour hours needed to make one unit: Cheese 1 Select one: O a. consumers who like bread O b. owners of cheese-producing companies Bread 2 8 O c. consumers who like cheese O d. owners of milk-producing companies Amount produced in 40 hours: Cheese Refer to Table 3-5. If England and Spain specialize and trade according to their respective comparative advantage, who gains in the short run in England? 40 20 Bread 20 5

Which of the following BEST defines maquiladoras? A. Export-assembly plants B. Taxes imposed on products that will be dumped OC. Transfer payments made directly to foreign firms D. Tariffs imposed on products imported into a country O E. Areas within a country that receive imported goods for assembly Since the 1970s, Singapore, Hong Kong, Taiwan, and South Korea have accomplished rapid economic growith by following O A. centralized economic planning B. normal trade relations c. import authorization efforts D. an export-led development model E. the Japanese miracle

Question: Which of the following policies CANNOT be used by the low-income WTO members to promote industrialisation? Oa. State owned companies to establish infant industries. b. Selective subsidies as long as they are within the limits of "negligibility" provision. O C. Tariffs that do not exceed "bound" tariff rates. O d. Horizontally applied subsidies O e. Selective export subsidies.

The theory of comparative advantage: O a. Claims that economic well-being is enhanced if each country's citizens produce only a single product. Ob. Claims that economic well-being is enhanced when all countries compare commodity prices after adjusting for exchange rate differences in order to standardize the prices charged by all countries. O. Claims that economic well-being is enhanced if each country's citizens produce that which they have a comparative advantage in producing relative to the citizens of other countries, and then trade production. O d. Claims that no country has an absolute advantage over another country in the production of any good or service.

Please answer this for me. Thanks