Question: Please answer the questiond below with own words and couple sentences In one or two sentences, explain if a country would rather have a

Please answer the questiond below with own words and couple sentences

In one or two sentences, explain if a country would rather have a trade surplus or a trade deficit. Then, in two or three sentences, explain the difference between balance of trade and balance of payments.

In a brief paragraph discuss the difference between absolute and comparative advantage. Identify an example of how comparative advantage prompts trade.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Ideally a country would prefer a trade surplus where exports exceed imports This indicates the count... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...

Q1. You have identified a market opportunity for home media players that would cater for older members of the population. Many older people have difficulty in understanding the operating principles...

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...

Please answer the following questions after reading Lectures 3,4 and 5: 1. Please list, describe and explain each one of the five major types of taxes as discussed in Lectures 3,4, and 5: What is the...

Environmental Economics, EEP101 /ECON125 Problem Set 3 James Sallee Spring 2024 Problem set 3 covers core concepts from module 3. You MUST complete and upload your problem set on this document....

Balance of payments keeps a record of international economic transactions between the residents of a country and foreign residents. The International Monetary Fund (IMF) is the primary source of...

Analyze the balance of payment of Saudi Arabia. the answer will be based on the article below June 2016 Saudi Arabia: Balance of Payments Situation and Outlook, 2016-2020 Executive Summary - The...

I need help with the Final Project presentation. (The last part) I attached my previous presentations to it as well Milestones 1, 2, 3 and the interview research. Please help, and please cite all...

Hello. Can you help with this four question problem? Case PRIVATE EQUITY CASE: MERGER CONSOLIDATION The questions below COMBINE the Ohio & Maryland PT acquisitions as if they are a single c Learning...

List the items under each main BoP account and explain each by giving examples. Give two debit and two credit item transactions as discussed above (One example given was U.S. foreign direct...

Kinsey Corporation reported income taxes of $360,000,000 on its 2014 income statement, income taxes payable of $277,000,000 at December 31, 2013, and $525,000,000 at December 31, 2014. What amount of...

C++ program to simulate a game of Blackjack between two to four players. Your program must incorporate a two-dimensional array to represent the suit and the value of each card dealt to a player, keep...

How does organizational culture impact retention in organizations? Employees are more likely to stay at a company with a positive culture. Employees are more likely to look for a new job if company...

Shown below is the liabilities and stockholders?? equity section of the balance sheet for Ingalls Company and Wilder Company. Each has assets totaling $4,200,000. For the year, each company has...

The management of Reiko Co. is reevaluating the appropriateness of using its present inventory cost flow method, which is average-cost. They request your help in determining the results of operations...

You have the following information for Goodspeed Diamonds. Goodspeed Diamonds uses the periodic method of accounting for its inventory transactions. Goodspeed only carries one brand and size of...

Consider the circuit of Fig. (a) What is the total rate at which electrical energy is dissipated in the 5.00- and 9.00- resistors? (b) What is the power output of the 16.0-V battery? (c) At what rate...

Calculating payments iron man products had projected the following sales for the coming year. Sales in the year following this one are projected to be 15 percent greater in each quarter. a. Calculate...

The return of goods to the supplier will affect the purchase account. Question 27Answer True False

Lets count the value of lost gains from trade in a regulated market. The government decides it wants to make basic bicycles more affordable, so it passes a law requiring that all one-speed bicycles...

As we saw, unions can raise wages in a sector of the economy by restricting the number of workers in that sector. Lets see what tends to happen to the workers who dont get jobs in those favored...

As already mentioned, the line between public good and private good is genuinely blurry. Electronic tolls on roadways are making excludability a little bit easier every year. In your view, should we...

Fark and Johnson (1997) report on a survey of professors of education taken in summer of 1997 and conclude that there is a large disparity between the views of education professors and those of the...

Eighty-five letters appeared in New York City newspapers in 1787 and 1788, with the purpose of drawing support in the state for the newly drafted Constitution. Collectively, these letters are known...

Approximately 16,500 women returned the Healthy Women Survey that appeared in the September 1992 issue of Prevention. The May 1993 issue, reporting on the survey, stated that Ninety-two percent of...