Which of the following are examples of Free Trade Zones? (Check all that apply) A. North American Free Trade Agreement (NAFTA) B. The Central American-Dominican Republic Free Trade Agreement (CAFTA) C. The European Union (EU) D. China-Asean Free Trade Area E. Mercosur
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| A. |
North American Free Trade Agreement (NAFTA)
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| B. |
The Central American-Dominican Republic Free Trade Agreement (CAFTA)
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| C. |
The European Union (EU)
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| D. |
China-Asean Free Trade Area
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| E. |
Mercosur
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- Select one of the followings economic trade blocks (trade associations) and do research on the profile of this block including but limited to its history of its establishment, members of the blocks, objectives and challenges they are facing. Do you think this trade economic block that you have selected has achieved its objectives? i. WTO ii. IMF iii. GCC iv. ECOWAS V. ASEAN Note : Please select one of the above.Which of the following is international trade? a. Trade between regions b. Both (b) and (c) c. Trade between provinces d. Trade between countriesWORKING WITH NUMBERS AND GRAPHS 1 Using the data in the accompanying table, answer the Points on Production Possibilities following questions: Canada Italy a. For which good does Canada have a comparative advantage? b. For which good does Italy have a comparative advantage? Frontier Good X Good Y Good X GoodY 150 90 100 25 60 60 C 50 50 30 120 c. What might be a set of favorable terms of trade for the 75 180 two countries? d. Prove that both countries would be better off in the specialization-trade case than in the no-specialization-no-trade case.
- The formula for the money multiplier is m = 1/ marginal propensity to consume total reserves excess reserves required reserve ratioTable 2-6 One Cell Phone Lumber (per board foot) Estonia 40 hours 8 hours Finland 16 hours 4 hours Table 2-6 shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. Refer to Table 2-6. If the two countries specialize and trade, who should export cell phones? There is no basis for trade between the two countries. Estonia Finland They should both be importing cell phones.Part 4 Question A: “Trade Makes Everybody Better Off” Prompt: explain how the concept of ‘Specialization’ allows a country to increase its ability to provide goods and services to its domestic populations. Include in your explanation how a country’s ‘Comparative or Absolute Advantage’ can enable it to compete against rival nations in the global marketplace.” Part 4 Question B: “Economic Decision-Making Process” Prompt: explain how each stage is critical in a consumer’s ability to maximize the effectiveness of spending their household income and the role ‘Opportunity Costs’ play in determining the level of success of that final choice.” Part 5 Question A: “Economic Systems” Prompt: “Present your understanding of the ‘Circular Flow’ , by describing the role each of the five main economic institutions and markets play in the success of a ‘Mixed Market Economies’ ability to deliver quality high school education to its citizens.” Note: Do NOT just simply state that which one can…
- The table above shows the daily production possibilities for China and Malaysia in producing trucks and coffee using the same amount of resources. Based on the data provided, which of the following terms of trade are mutually beneficial for the two countries? A. 1 ton of coffee for 3 trucks B. 1 ton of coffee for 4 trucks C. 1 ton of coffee for 5 trucks D. 1 truck for 1 ton of coffee E. 1 truck for 5 ton of coffee35. What are some benefits of international free trade? (Easy Question) Multiple Choice . . The U.S. consumer has more purchasing power with their dollars when they visit a store like WalMart or shop online with Amazon, since they get many of their goods from international sources. Lower prices, more consumer choice, more global output and increased wealth. Since the 1980's until today the increase in free trade has helped to lower global poverty. All of these reasons are benefits of international trade.The corresponding graphs show the supply and the demand for strawberries in two countries: Berryland and Fruitland. Use the information in the graphs to answer the questions. Which groups benefit from free trade in strawberries between the two countries? Choose all that apply. a. producers in Berryland b. producers in Fruitland c. consumers in Berryland d. consumers in Fruitland How is the price of strawberries in Berryland, compared to the free-trade prices, affected if it introduces a $0.50 tariff on imports from Fruitland? a. price increases b. price remains unchanged c. price decreases What quantity of strawberries is demanded for Fruitland with the $0.50 Berryland tariff on imports? quantity of strawberries:______units
- Which of the following is a benefit of free trade? A. It reduces employment in many fields. B. It makes more diverse products available. C. It causes industries to decline. D. It makes countries dependent on foreign powers.The North American Free Trade agreement consists of which of the following countries?Choose one answer.a. Central America b. Mexico c. El Salvador d. Puerto RicoGlobalization and international trade can be beneficial and harmful to countries. State and briefly explain 3 advantages and 3 disadvantages in engaging in trade.
