Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE HELP I NEED THIS BEFOR MIDNIGHT TO GRADUATE Use the table to answer the question. A country currently exports 1 million tons of lumber

PLEASE HELP I NEED THIS BEFOR MIDNIGHT TO GRADUATE

image text in transcribed
Use the table to answer the question. A country currently exports 1 million tons of lumber to the rest of the world. If the government were to impose an export subsidy on Soybeans Wheat lumber, which of the following correctly explains the expected Argentina 100 million tons 80 million tons result? (1 point) Bolivia 120 million tons 100 million tons The subsidy will increase exports of lumber O because it will effectively raise lumber prices for For which of the following does Bolivia have the absolute both domestic consumers and domestic producers. advantage in production? (1 point) The subsidy will decrease exports of lumber O because it will effectively lower lumber prices for consumers and raise them for producers. O wheat The subsidy will increase exports of lumber O soybeans because it will effectively lower lumber prices for consumers and raise them for producers. O neither product The subsidy will decrease exports of lumber O wheat and soybeans O because it will effectively raise lumber prices for both domestic consumers and domestic A country can direct all of its resources to the production of either producers. 5,000 computers or 20,000 books. Assuming that no economic Which of the following correctly explains the relationship between growth will occur in the near future, and that the residents of the international trade agreements and protectionist trade policies? country want to consume a combination of 3,500 computers and (1 point) 8,000 books, which of the following is correct? (1 point) International trade agreements usually mitigate O The country could only achieve this through O protectionist trade policies by reducing barriers to domestic production. trade. The country could only achieve this through trade. International trade agreements usually support protectionist trade policies by reducing barriers to O The country could achieve this through either trade. domestic production or trade. The country could not achieve this by any means. International trade agreements usually mitigate O protectionist trade policies by increasing barriers to trade. Which term refers to a tax on imports? (1 point) International trade agreements usually support O tariff protectionist trade polices by increasing barriers to trade. O quota O subsidy Which of the following is addressed by the USMCA? Select the two correct answers. (1 point) O embargo O border removal Which of the following describes one purpose of APEC? (1 point) common currency O to establish a uniform currency used by member countries O free travel of labor to regulate equal treatment of member countries O agricultural trade to reduce tariffs among member countries O intellectual property rights O to remove border controls among member countries

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

Step: 3

blur-text-image

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

How The Old World Ended The Anglo-Dutch-American Revolution 1500-1800

Authors: Jonathan Scott

1st Edition

0300249365, 9780300249361

More Books

Students also viewed these Economics questions

Question

1. Effort is important.

Answered: 1 week ago