In the first European Community, the members had the following numbers of votes: France, Germany, and Italy -4 votes each; Belgium and Netherlands - 2 votes each; Luxembourg - 1 vote. Passing a measure requires 12 votes. Mark all statements that are true: Luxembourg is a dummy player Belgium is a dummy player There exists a winning coalition that has only three members Netherlands and France form a blocking coalition ITA
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- How can governments identify good candidates for infant industry protection? Can you suggest some key characteristics of good candidates? Why are Industries like computers not good candidates for infant industry protection?nave a n ab je in bothi good because they both produce boots and shirts. 40- 38- 36- B. Neither country has an absolute advantage in both goods because the United States can produce more boots but Canada can produce more shirts. 34- 32- 30- 28- 26- 24- 22- 20- 18- 16- 14- 12- 10- 8- C. The United States has an absolute advantage in both goods because it can produce more boots and more shirts. PPFUS. D. Neither country has an absolute advantage in both goods because Canada can produce more boots but the United States can produce more shirts. O E. Canada has an absolute advantage in both goods because it can produce more boots and more shirts. US 6- Suppose initially that the United States is consuming 4 boots and 8 shirts and Canada is consuming 18 boots and 2 shirts, as indicated in the figure. Then, suppose the United States and Canada specialize by each only producing the good for which they have a comparative advantage and then trade. In particular, suppose the United States trades…Use the specific factor model to analyze a simplified version of a liberalization of trade betweenBrazil and Japan. Assume that there are two goods that people want to buy: coffee and cars. Assumethat there are three production factors: land, capital and labor. Land is specific to coffee, capital isspecific to cars and workers can work in both industries. Assume that, under autarky, coffee is cheaper in Brazil than in Japan. How does the price of coffeein Brazil change when Brazil opens up to international trade? Explain your answer
- Why might a tax on domestic consumption of resources critical for national security be a more efficient approach than barriers to imports?In the chapter, we described a situation where dumping occurs between two symmetric countries. Briefly describe how things would change if the two countries had different sizes. a. How would the number of firms competing in a particular market affect the likelihood that an exporter to that market would be accused of dumping? (Assume that the likelihood of a dumping accusation is related to the firm's price difference between its domestic price and its export price: the higher the price difference, the more likely the dumping accusation.) As the number of firms competing in a particular market increases, the price charged by exporters (and domestic firms) will fall, increasing the probability that a dumping charge will be filed. b. Would a firm from a large country be more or less likely to be accused of dumping when it exports to a small country (relative to a firm from the small country exporting to the large country)? A firm exporting from a large country to a small country will be…WHAT WILL HAPPEN IF A COUNTRY DOESNT HAVE ENOUGH PRODUCTION BUT MORE EXPORTING THINGS IN OTHER COUNTRIES
- 1. Notice how U.S. imports rose at roughly the same rate asthose of other countries until the 1970s. What accounts forthe acceleration of U.S. imports thereafter? 2. China’s exports rose spectacularly after the 1990s. Germanyincreased its exports in this period dramatically as well. Whatevidence do you see here for increasing competition for theUnited States in a globalizing economy?explain how does WTO deals with the problem of standardization in order to support international trade between various countries?Which of the foliowing best captures the main idea of Bastiat's "The Candlemaker's Petition? O t is a good idea to produce as many products domestically as possible O The sun is our adversary and we should avoid using its light at all costs O Tariffs on foreign goods require more resources to be spent on things that could be obtained more cheaply elsewhere O Tariffs on foreign goods will generally benefit everyone in the domestic economy
- Why do low-income countries like Brazil, Egypt, or Vietnam have lower environmental standards than high-income countries like the Germany, Japan, or the United States?Two countries, Korea and Vietnam, are engaging in international trade.They produce two goods: automobiles and cloth. We observe a relativeabundance of cheap labor in Vietnam and a relative abundance of capitalin South Korea. a. Assume that automobiles are capital-intensive and cloth are cheaplabor-intensive. Using the Hecksher-Ohlin theory, explain what willhappen in trade between these two countries, in terms of export andimport. c. Draw a graph that shows the above situation in South Korean economy with a P P F and two relative prices (one before trade and theother after trade). The quantity of automobiles (QAuto) is on thehorizontal axis and the quantity of cloth (QCloth) is on the verticalaxis.How did the U.S. emerge from World War Il as a superpower? O. Although the U.S. entered World War II late, it fought in two theatres, providing it with the largest footprint of any country during the war. And because combat did not occur on U.S. soil (with Pearl Harbor the exception), the U.S. emerged relatively unscathed. Growing tensions with the USSR over postwar borders made cetain that the United States would not retreat into isolationism after the war while the development of the atomic bomb cemented its place as the strongest military power on Earth. O. Because the U.S. entered the war late, it was more refreshed than any other country and was therefore able to engage in a swift and powerful offensive against the Nazis. FDR called for an invasion of Normandy within 6 months of joining the war and within less than a year had pushed Hitler's troops back to the Rhine. When American troops marched into Berlin, the Soviets were still defending Russia. Therefore, the U.S. came…