plz don't use chat gpt answer i will 5 upvotes. only own answer What is the primary purpose of free trade agreements? a) To eliminate all tariffs and trade barriers among member countries. b) To impose tariffs and quotas on imports from non-member countries. c) To promote economic growth and integration among member countries. d) To restrict the movement of goods and services across borders.
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- Question: Describe comparative advantage in international trade and its benefits for countries.Don't use chatgpt please provide valuable answer otherwise be ready for disupvoteQuestion 1 a. What is international trade? and justify the rationale for ITb. Identify and explain 3 advantages and 2 disadvantages of your country engaging in internationaltrade. c. Identify and explain 2 types of terms of trade indices and their measurements.The graph below shows the trend of the terms of trade for the U.S. and China. Which would be inferred from the graph? Figure 6.9 Evolution of the Terms of Trade for the United States and China 125 120 - 115- 110 - China 105 100 95 90- 85 United Statoo 80 75 70 1980 1982 1984 1986 1088 1990 1092 1994 1096 1998 U A) China's growth may have hurt the U.S. terms of trade. 2000 2002 2004 2006 2008 2010 B) China's recent growth may have been export-biased. C) U.S. terms of trade have been hugely deteriorated over the past decasde. O D) U.S. exports have been competing with China's imporing sectors. 2012 2014
- For part E how do I tell what country will import and export?1.what impact does international trade have on the U.S. economy? 2.Explain the impact of a currency devaluation. 3.what are the benefits of globalization? 4.Describe several tariff and non-tariff barriers to trade. 5.Describe the purpose and role of the WTO 6. Explain the pros and cons of NAFTA 7.Discuss several ways that a company can enter international trade. 8.Describe several cultural factors that a company involved in international trade should consider 9.what is a multinational corporation? 10.what trends will foster continued growth in world trade?Production Data Country of Joem - Production Possibilities Corn (tons) Sugar (tons) 01 2 3 4 8 6 4 2 0 Country of Annia - Production Possibilities Corn (tons) Sugar (tons) 0 1 2 3 4 16 12 8 4 0 Preferred Bundle without trade Joem Annia Corn (tons) 2 2 Sugar (tons) 4 8 SCENARIO: You work for a consulting firm that advises countries on trade policy. The countries of Joem and Annia both produce corn and sugar. You have been asked to analyze the opportunity costs and comparative advantages to recommend an efficient trading relationship. Consider the production data provided. Prepare a brief report that: 1. Calculate and compare the opportunity costs of producing 1 unit of corn and 1 unit of sugar in each country. Which country has the lower opportunity cost for each good? 2. Determine which good each country has a comparative advantage in producing sugar and which one has a comparative advantage in producing corn. Explain your analysis. 3. Recommend a trading relationship that allows the…
- The graph below shows the trend of the terms of trade for the U.S. and China. Which would be inferred from the graph? Figure 6.9 Evolution of the Terms of Trade for the United States and China 125 120 115 110 - China 105 100 95 90 - 85 80 United Statoo 15 70 1980 1982 1984 1986 1088 1990 1092 1994 O A) China's growth may have hurt the U.S. terms of trade. 1096 1998 2002 2004 2000 B) China's recent growth may have been export-biased. 2006 2008 2010 2012 2014 O C) U.S. terms of trade have been hugely deteriarated over the past decasde. D) U.S. exports have been competing with China's imporing sectors.The formula for the money multiplier is m = 1/ marginal propensity to consume total reserves excess reserves required reserve ratioCashews (pounds) 150 Neither country Indonesia Pakistan Pakistan 240 Cotton (bolts) Cashews (pounds) Cotton (bolts) The figure above shows the production possibilities frontiers for Pakistan and Indonesia. Each country produces two goods, cotton and cashews. Which country has a comparative advantage in the production of cashews? 120 They have equal productive abilities. Indonesia 320
- international trade theory An economy grows and the country wants to trade more after the growth. What can we expect happens to the terms of trade in this case, assume that the growth is caused by a proportionally greater increase in the supply of labour than of capital and that the growth in labour is larger than the economic growth?The United States has an absolute advantage in the production of many things. Why is it sometimes more efficient to import items in which the United States has an absolute advantage? Do i fast plzWith reference to Table 2 below, indicate in what commodity the U.S. and the Philippines have a comparative advantage? Table 2 COMMODITY U.S. Philippines Wheat (bushels/man-hour) 7 1 Rice (sacks/man-hour) 4 3