Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello there, I need help with this. According to the U.S. Census Bureau, in 2019 the United States exported $125.9 billion worth of civilian aircraft.

Hello there, I need help with this.

image text in transcribed
According to the U.S. Census Bureau, in 2019 the United States exported $125.9 billion worth of civilian aircraft. The civilian aircraft industry requires a highly skilled workforce. In 2019 the United States imported $44.5 billion worth of cotton apparel (clothing). Use this information to answer the following. A. When the U.S. allows international trade in the civilian aircraft market. what impact does this have on employment in that industry? Briey explain your reasoning. When the US. allows international trade in the cotton apparel market, what impact does this have on employment in that industry? Briey explain your reasoning. B. A common criticism of international trade is that it results in a net loss of jobs in the U.S. Is it necessarily the case that the number ofjobs in the US. will decline if the U.S. allows international trade to occur? Briey explain your reasoning. C. Based on your answers to parts [a] and (b), are there both winners and losers among workers in the U.S. when international trade is allowed to occur? Is it possible to compensate the losers? If so. how might we compensate the losers? D. Income inequality has increased in the United States over the past several decades. What role might increased international trade have on this increase? Use an example of an industry that the US. has a comparative advantage in and an industry that the U.S. does not have a comparative advantage to help illustrate your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics And The Environment A Materials Balance Approach

Authors: Allen V Kneese, Robert U Ayres, Ralph C D'Arge

1st Edition

1317402251, 9781317402251

More Books

Students also viewed these Economics questions

Question

1. To understand how to set goals in a communication process

Answered: 1 week ago