Throughout history, many countries have chosen the path of autarky, choosing to not trade with other countries.

Question:

Throughout history, many countries have chosen the path of autarky, choosing to not trade with other countries. Explain why this path would make a country poorer.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

See More Books

Question Posted: Feb 07, 2013 05:35 AM

See More Questions

This activity would make a good in-class assignment. Assign each student a random number. Then, randomly select eight students and ask each a small number of survey questions such as (feel free to...
Why are some countries today much poorer than other countries? Are todays poor countries destined to always be poorer than todays rich countries? If so, explain why. If not, explain how todays poor...
Why do countries trade with each other? What would happen if countries curtailed or stopped trading? Read an article about the current fight over the TPP free trade pact that is before Congress.
Extend the model of this chapter by assuming that the firms cost function has the form C(X,E) satisfying assumption 5.1. (a) Derive the second-best optimal combination of an emission standard (no...
Canoli Cola Company produces a soft drink in three departments, Syrup, Carbonation, and Bottling. Syrup, which gives the drink its flavor, is produced in the first department. The syrup is then...
Companies should always make and sell all products whose selling prices exceed variable costs. Assuming fixed costs are irrelevant, do you agree? Explain
Consider the ammonia process in which $\mathrm{N}_{2}$ and $\mathrm{H}_{2}$ (with impurities $\mathrm{Ar}$ and $\mathrm{CH}_{4}$ ) are converted to $\mathrm{NH}_{3}$ at high pressure...
The Liquid Chemical Company manufactures and sells a range of high-grade products. Many of these products require careful packaging. The company has a special patented lining made that it uses in...
LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the following information was supplied by its accountant Direct materials Inventory Work-in-process inventory...
What type of professional service engagement was the assignment completed by the team of auditors led by Katelyn Light? Defend your answer. Which professional standards are applicable to such...
Modern medicine has made organ transplants a common occurrence, yet the number of organs that people want far exceeds the available supply. According to CNN, 10 people die each day because of a lack...
Farmer Fran can grow soybeans and corn. She can grow 50 bushels of soybeans or 100 bushels of corn on an acre of her land for the same cost. The price of soybeans is $1.50 per bushel and the price of...
The Ottawa Senators fired their coach two years into his five-year contract, which paid him $90,000 at the end of each month. If the team owners buy out the remaining term of the coachs contract for...
Sage's current employer offers a life insurance policy with a nontaxable annual premium of $300. Assume that Sage is in a 20% tax bracket. What is the comparable tax-equivalent employee benefit for...
Henderson Industries applies manufacturing overhead to its jobs based on a predetermined overhead rate, which is calculated using direct labor costs. The following data pertains to Henderson...
1-In 2008, Upper Crust had cash flows from investing activities of $270,000 and cash flows from financing activities of $163,000. The balance in the firm's cash account was $86,000 at the beginning...
4. Identify and explain the interrelationship between the lithium market and the electric vehicle market. Complement your answer with the help of diagrams.
Dunkin Donuts is planning to launch a new spinach donut, which will compete with Dunkin's own no-fun donut. Research suggests a cannibalization rate of 32% for the spinach donut. Dunkin earns a...
Let v = 3i j + 4k. Find the length of v and the vector 2v + 3 (4i k).
ABC company leased new advanced computer equipment to STU Ltd on 1 January 2019.STULtd has to pay annual rental of $290,000 starting at 1 January 2019. It is a four years lease with ultimate rental...
Which of these sound like inflation, which sound like deflation, and which are ambiguous? a. Gasoline prices are up 10%, food prices are down 20%, and the prices of most services are up 12%. b. Gas...
In 2017 Taco Bell and Major League Baseball (MLB) partnered to bring every American a free Doritos Locos Taco if a base was stolen during the first three games of the world Series. Is this really a...
Why is economic growth important?
What is inflation?
Individual Retirement Account (IRA) Bonds Mutual fund Stocks Futures Defined contribution plans What is it? Level of Risk and Potential Return Minimum investment? Easy to start or stop?
1. A company purchased machinery in 2015 for $400,000. Its value in 2018 was $320,000. Assuming the resale value decreases exponentially, what will the value be in 2020? As a part of your solution,...
ROA of a company is 8.57%, Total assets end of the year of 2021 are $9.6 million, ROE is 14% and Profit margin of 19.9% what is the firms value of net income? and what is stockholders equity?

Throughout history, many countries have chosen the path of autarky, choosing to not trade with other countries.

Question:

Step by Step Answer:

Denying trade possibilities also eliminates the possibili...View the full answer

Exploring Economics

Students also viewed these Economics questions