Question
Read the following article and provide written answers to the questions below: https://www.abc.net.au/news/2021-12-17/australia-signs-free-trade-agreement-united-kingdom/100706992 1. Research the products that are currently exported to and imported from
Read the following article and provide written answers to the questions below: https://www.abc.net.au/news/2021-12-17/australia-signs-free-trade-agreement-united-kingdom/100706992
1. Research the products that are currently exported to and imported from the UK. Using data you have obtained, identify which types of good each country is likely to have a comparative advantage in and provide a justification for your result. All data collected should be presented in an Appendix to your paper . 2. Using models demonstrate how an FTA with the United Kingdom would effect aggregate welfare. Be sure in your discussion to discuss any distributional effects which may take place both in the short and long run. 3. In the article, it is noted that the agreement would increase the capacity for British citizens to migrate to Australia. Again, provide an analysis of the short and long run effects of an inflow of British citizens into Australia.
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