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Gains from trade:




1. Gains from trade;a. tend to be greater for large countries than for small ones.;b. tend to be smaller for countries producing goods with economies of scale.;c. exist only when a country has an absolute advantage in at least one product.;d. accrue primarily to traders when entry is limited.;2. Isolationism, a policy of trying to minimize a nation's political and economic interactions with the rest of the world;a. has always been key part of American politics.;b. was important until the late 19th century and then declined.;c. rose in America in the late 19th century and was an important political element until World War II.;d. rose to importance in the U.S. after World War II.;3. In the early 2000s, the outsourcing of service jobs such as those in call centers has become a political issue. How do economists view outsourcing?;a. It helps both countries in the long run.;b. It hurts both countries because we lose jobs and the employees of the call center are exploited with low wages.;c. It helps the U.S. but hurts the country with the low-cost labor.;d. It helps the country getting the jobs but hurts the U.S.;4. Strategic bargaining;a. always reduces the number of trade restrictions.;b. always increases the number of trade restrictions.;c. may increase the number of trade restrictions if it is successful.;d. may reduce the number of trade restrictions if it is successful.


Paper#32588 | Written in 18-Jul-2015

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