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- 10. major features of the linder theory of trade are that it focuses on _______ patterns in countries and also introduces, in contrast to traditional trade theories, the general concept of _______ trade a. demand; intra-industry b. demand; inter industry c. supply; intra industry d. supply; inter industryThe following are arguments against free trade (cases against free trade) EXCEPTa. Intellectual property rights that are not clear and not enforced cause free trade to be not optimalb. tariffs or quotas lower import prices and generate ToT gains for large countriesc. the failure of the domestic market causes free trade to become a non-optimal policyd. tariffs generate ToT gains for small countriesWhich of the following are types of regional trade agreements? Select all that apply: • economic union common market • monetary union . . global trade organization
- International Trade and Global Economy Terms Define and give the significance of each of the following terms. If it is an acronym, also explain the acronym, but still go further and explain it and why it is important. OPEC WTO USMCA (formerly NAFTA) Comparative advantage1. What are the benefits of Asian regionalism? 2. What are the challenges faced by Asian regionalism?Question 2 How do you differentiate "free trade" from "fair trade"? What are the manifestations of each trading rule? What could be its effects on the international trade law regime? What is the drawback of the apparent change from "free trade" to "fair trade" in international trade? ....
- 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?You just overheard your friend say the following: Poor countries like Malawi have no absolute advantages. They have poor soil, low investments in formal education and hence low-skill workers, no capital, and no natural resources to speak of. Because they have no advantage, they cannot benefit from trade. How would you respond?1. is there any differences between the theory of multinational enterprises and conventional trade theory?
- The historic debate about the benefits and costs of trade liberalization (freer trade) continues today after centuries, and the pendulum of popular sentiment is swinging again. It was once seditious to talk of free trade with other nations, but in more recent times the world has moved to lower barriers -up until mid-2018, when protectionism rose again. Clearly IDENTIFY one issue within the trade debate where two organizations differ on their stances about whether free trade is good or bad for society as a whole.International Trade and Global Economy Terms Define and give the significance of each of the following terms. If it is an acronym, also explain the acronym, but still go further and explain it and why it is important. Free Trade Protectionism Capital flightExports of goods is a strategy for international companies. Which of the following is not a limitation to export strategy. Select one: a. Threats of quotas b. Threats of import tariffs c. Establishment of trade agreement d. High transportation costs Which of the following represents the stage where economic integration is least complete Select one: a. Free Trade Area b. Monetary Union c. Common Market d. Customs Union Japanese auto producers found it easier to set up operation in US to deal with protectionist threats made by US. Select one: True False Residents of Ireland decide it is cheaper to import 100,000 more bushels of wheat from Canada than it is to reallocate domestic land to wheat production. In this case: a. The opportunity cost of wheat must be lower in Canada than in Ireland b. Ireland has a comparative advantage in wheat production. c. Canada must have an absolute advantage…