PRINCIPLES OF MICROECONOMICS (OER)
2nd Edition
ISBN: 9781947172340
Author: Timothy Taylor, Steven A. Greenlaw
Publisher: OpenStax
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Textbook Question
Chapter 19, Problem 20CTQ
You just overheard your friend say the following: “Poor countries like Malawi have no
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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?
"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 I respond to this statement?
If a certain trade is good for one country, it must be good for the other country?
Chapter 19 Solutions
PRINCIPLES OF MICROECONOMICS (OER)
Ch. 19 - True or False: The source of comparative advantage...Ch. 19 - Brazil can produce 100 pounds of beef or 10 autos....Ch. 19 - In France it takes one worker to produce one...Ch. 19 - In Germany it takes three workers to make one...Ch. 19 - How can there be any economic gains for a country...Ch. 19 - Table 33.15 shows how the average costs of...Ch. 19 - If the removal of trade banters is so beneficial...Ch. 19 - What is absolute advantage? What is comparative...Ch. 19 - Under what conditions does comparative advantage...Ch. 19 - What factors does Paul Krugman identity that...
Ch. 19 - Is it possible to have a comparative advantage in...Ch. 19 - How does comparative advantage lead to gains from...Ch. 19 - What is intra-industry trade?Ch. 19 - What are the two main sources of economic gains...Ch. 19 - What is splitting up the value chain?Ch. 19 - Are the gains from international trade more likely...Ch. 19 - Are differences in geography behind the...Ch. 19 - Why does the United States not have an absolute...Ch. 19 - Look at Exercise 33.2. Compute the opportunity...Ch. 19 - You just overheard your friend say the following:...Ch. 19 - Look at Table 33.9. Is there a range of trades for...Ch. 19 - You just got a job in Washington, D.C. You move...Ch. 19 - Does intra-industry trade contradict the theory of...Ch. 19 - Do consumers benefit from intra-industry trade?Ch. 19 - Why might intra-industry trade seem surprising...Ch. 19 - In World Trade Organization meetings, what do you...Ch. 19 - Why might a low-income country put up barriers to...Ch. 19 - Can a nations comparative advantage change over...Ch. 19 - France and Tunisia both have Mediterranean...Ch. 19 - In Japan, one worker can make 5 tons of rubber or...Ch. 19 - Review the numbers for Canada and Venezuela from...Ch. 19 - In Exercise 33.31, is there an ask where...Ch. 19 - From earlier chapters you will recall that...Ch. 19 - Consider two countries: South Korea and Taiwan....Ch. 19 - If trade increases world GDP by 1 per year, what...
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