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- (a) You have read all the time that trade brings net benefits to nations open to it. But are there any costs or drawbacks that come with open global trade? (b) Consider a country that is open to trade, but is using protectionist policies like tariffs and quotas. Why do you think that most consumers do not vigorously oppose these protectionist policies? (c) Suppose the country in (b) imports and exports goods and services from more than 80 different nations, but the bulk of its imports and exports tend to come from the same five nations. What might be the reasons that the majority of its imports and exports come from only five different nations as opposed to being more evenly spread across the 80 different nations that it trades with?Openness to trade measures A the inverse of the average time needed to comply with customs forms when importing goods into a country. B the amount of exports and imports as a share of GDP of a country. C the inverse of the average import tariff employed by a country. D the facility of doing business in country by a foreign firm.(a) Defi ne export promotion and explain why it has an outward orientation. (b) What were some of the countries that adopted an export orientation during the 1960s, and what prompted them to do so? (c) Discuss some of the key policies that were associated with export promotion. (d) Evaluate the effectiveness of these policies with respect to economic performance, export growth and economic growth and development.
- (c) What might be a set of favorable terms of trade for the two countries?Q:Trade is appreciated and promoted throughout the world but there exists certain loopholes for efficient trade system .Highlight the concerned factors ?In the United States, what percent of gross domestic product does international trade account for?Chapter 325 percentO 12.5 percentO 75 percent50 percentO 90 percent Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- World Economy and Foreign Trade Terms Provide each of the following terms a definition and explain what it means. If the term is an acronym, explain it as well as the acronym while still going on to describe the term and its significance. OPEC WTO USMCA (formerly NAFTA) Comparative benefitPlease no written by hand solutions complete a STEP (social, technological, economic, political) analysis for Germany. Exporting wood from Canada and importing in Germany.Explain, with an aid of examples, what is meant by the following terms: • Terms of trade • Non-Traded goods and services • Intra-industry trade
- (g) Explain how is the production structure (i.e. which goods are produced) affected in each country by opening up to trade. Is this consistent with the empirical evidence we observe in reality? How can this model be modified to produce a less stark result?Identify the erroneous term in each item and write the correct word/phrase to revise the statement. "The impact of liberalization of trade and investment has been even as some nations have benefited more than others."b) “International trade is beneficial to developing countries." Do you agree? Discuss your arguments with the support of at least one international trade theory. c) As a trade specialist, outline the policies which the Botswana government can use to promote international trade.
