2. Map Activity: Establishing Slavery in North America and theCaribbean colonies were the most profitable of any European colonies in the Americas. Slave-driven societies in the Catragedy in this era, and English planters instituted policies of labor exploitation that produced wealth so vast that the remulate them. By 1650, all the English mainland colonies had slaves. They also contributed to, and participated in, thethe mainland colonies that imported sugar also exported agricultural products to the plantations that grew it.Answer the following questions to test your knowledge of the arrival of African slavery in England's colonies.Fill in the blank to complete the following sentence.By the end of the 18th century, English colonies actively produced threecommodity crops for export.threefiveCaribbean Colonies, 1660twoCAROLINA Charles TownBermu

Exports to the English colonies comprised predominantly of woolen textile materials; imports…

Answered: Map Caribbean colonies were the most…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 6SCQ: Table 33.15 shows how the average costs of production for semiconductors (the chips In computer...

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In the early 1980's many countries throughout the world refused to do business with South Africa in order to force their government to end apartheid. What type of trade barrier was this? (38b,1) O A. Embargo O B. Quota O C. Tariffs O D. Taxes
Question & Use the table to answer the question. Apples Bananas Country A Country B 800 500 O a O b Ос Od 1500 If all resources of Country A and Country B were dedicated toward the production of either apples or bananas, the maximum production of each is summarized in the table above. In order for both countries to benefit from trade, which country should specialize in banana productio and why? 1600 Review Answers Country A since it has the absolute advantage in banana production. Country A since it has the comparative advantage in banana production. Country B since it has the comparative advantage in banana production. Country B since it has the absolute advantage in banana production. Saved at 8:09 am Support | Schoology Blog | PRIVACY POLICY | Terms of
help explain this pls. International trade is the subject of much debate. Many economist favor encouraging international trade, citing the benefits gained by trade. However, there are economic arguments for limiting international trade with protectionism. Classify the given statements into the appropriate category. Look at image for answer bank. Arguments for promoting international trade Arguments for limiting international trade with protectionism
1. Gains from trade Consider two neighboring island countries called Dolorium and Contente. They each have 4 million labor hours available per week that they can use to produce jeans, rye, or a combination of both. The following table shows the amount of jeans or rye that can be produced using 1 hour of labor. Country Dolorium Contente Jeans Rye (Pairs per hour of labor) (Bushels per hour of labor) 20 16 Initially, suppose Contente uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce rye, while Dolorium uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce rye. Consequently, Dolorium produces 15 million pairs of jeans and 20 million bushels of rye, and Contente produces 8 million pairs of jeans and 48 million bushels of rye. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and rye it produces.…
Suppose there is a policy debate regarding the United States' imposing trade restrictions on imported tires. Read the following scenario and answer the question that follows. The president of the United States argues that the United States should threaten to impose a tariff on Chinese tires in order to induce the Chinese to remove its tariff on American cars. Which of the following justifications is the president using to argue for the trade restriction on tires? O Jobs argument O Unfair-competition argument O National-security argument O Using-protection-as-a-bargaining-chip argument O Infant-industry argument
Table 33.15 shows how the average costs of production for semiconductors (the chips In computer memories) change as the quantity of semiconductors built at that factory increases. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.
The table below shows the monetary value of the production of gems and steel respectively in the calendar year of 2019 for the nations of Turkey and Zimbabwe. Use it to answer questions regarding a possible trade scenario between the two nations. Year - 2019 Gems in billions of USD Steel in billions of USD Zimbabwe 1 0.2 Turkey 10 What is the opportunity cost of producing 1 billion dollars worth of steel in Zimbabwe? a 5 billion dollars worth of gems O b 1 billion dollars worth of gems O c 7 billion dollars worth of gems O d 10 billion dollars worth of gems 7.
Which of the following is NOT a benefit from trade? O a. the ability to specialize O b. an increase in the variety of goods and services available O c. reduced competition O d. lower prices
14. Which three (choose all three) of the following arguments are often used to support franchising as a means of internationalization? Select one: O a. Franchising establishes an immediate presence overseas with relatively little direc investment O b. Franchising allows the franchisee to benefit from the global brand image and marketing expenditure of the franchiser O C. Franchising provides opportunities for technical economies of scale d. Franchising allows the franchisor to retain substantial control whilst benefiting fron the franchisees 'local' knowledge O e. Franchising removes restrictions on what the franchisor can or cannot do ? II
10. Suppose that the European Union textile industry is competitive, and there is no international trade in textiles. In long-run equilibrium, the price per unit of cloth is €30. a. Describe the equilibrium using graphs for the entire market and for an individual producer. Now suppose that textile producers in non-EU coun- tries are willing to sell large quantities of cloth in the EU for only €25 per unit. b. Assuming that EU textile producers have large fixed costs, what is the short-run effect of these imports on the quantity produced by an individual producer? What is the short-run effect on profits? llustrate your answer with a graph. c. What is the long-run effect on the number of EU firms in the industry?
6. The arguments for restricting trade Suppose there is a policy debate regarding the United States' Imposing trade restrictions on Imported semiconductors. Read the following scenario and answer the question that follows. A senator from a state with several semiconductor factories argues that the United States should threaten to impose a tariff on Chinese semiconductors in order to induce the Chinese to remove its tariff on American cars. Which of the following justifications is the senator using to argue for the trade restriction on semiconductors? O Jobs argument O National-security argument O Unfair-competition argument O Using-protection-as-a-bargaining-chip argument O Infant-industry argument
5. Economic sanctions Indicate whether each outcome in the following table is or is not an objective of economic sanctions. Not an Objective O O O O Outcome Compensation for property expropriated by foreign governments Protection against unfair trade Reduction of nuclear proliferation Antidumping protection In 1990, Western countries imposed economic sanctions on Iraq with the goal of terminating Iraq's military takeover of Kuwait. Prior to the sanctions, oil and equipment were exported internationally by Iraq. The following graph shows Iraq's production possibilities frontier (PPF) before the sanctions were imposed. 300 OIL (Barrels) 88888888 Drag the PPF curve on the following graph to show the effects of the imposed economic sanctions on Iraq's production possibilities frontier. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it…

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