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f.What are the aim of classical country-based trade theories?
g.Define
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- What theory attempts to explain why Japan is strong in automobiles, Switzerland in precision instruments and pharmaceuticals, and Germany in chemicals? Select one: a. Absolute advantage b. New trade theory c. National competitive advantage d. Comparative advantageInternational trade What do you understand about Standard Trade Model?If a country closes off to trade and notices that the number of firms in an industry doubles in size, what economic theory would help us explain this phenomenon? A. Stolper-Samuelson. B. Melitz. C. Ricardian. D. Cournot.
- Define the differences between the classical, country-based trade theories and the modern, firm-based trade theories. If you were a manager for a large manufacturing company charged with developing your firm’s global strategy, how would you use these theories in your analysis? Which theories seem most appealing to you and which don’t seem to apply?Explain how two countries trading with which other gain from economic trade or mercantilism.c. Consider a Ricardian model with two countries, the US and Ecuador, producing two goods, bananas and machines. Suppose the unit-labor requirements are: aLBUS= 8, aLBE = 4, aLMUS = 2, aLME = 4. Let the US have 3200 workers and Ecuador have 400 workers. D. What would the pattern of trade be in free trade? Why? E. How much of each good would Ecuador produce in free trade if complete specialization occurred? F. Specify a plausible free trade terms of trade.
- Q32 A country that engages in no foreign trade is said to be in a situation of... a. Reciprocal absolute advantage. b. Absolute advantage. c. Comparative advantage. d. Economic empowerment. e. Autarky. Clear my choiceIf a country closes off to trade and notices that the number of firms in an industry doubles in size, what economic theory would help us explain this phenomenon? A. Stolper-Samuelson. B. Melitz. C. Ricardian. D. Cournot. Explain your answer in up to 200 words and using a diagramDo you think that the concept of absolute advantage and comparative advantage still relevant to explain the trade activities of Indonesia? Why and why not?
- Question: what are some examples of successful expansion of global trade, countries are seeing, and using, trade as a weapon during and after recessions? please answer in paragraphs, thank you for your time!Why has the scale of global trade increased so dramatically since the mid-twentieth century? How has the nature of global trade changed since the 1960s? What are some of the advantages of globalization?What are the gains from trade, and explain why countires might still decide to trade even if no country had a comparative advantage?