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I need help with questions 2,3,4,5,6

Take Test: QZ14-TRADE Moving to another question will save this response. Question 2 of 10 10 points Saved In late-2008, Congress rejected a proposed trade pact with Chile tied to a bailout of the U.S. tobacco industry. negotiations with Colombian drug lords. an overhaul of the U.S. Postal Service. a rescue package for the U.S. auto industry.


-> Δ Moving to another question will save this response. K Question 3 10 points One of the reasons economists approve of limiting trade would be the desire not to encourage the employment of children. the preservation of a large-production company the preservation of a high-wage company. the preservation of a high-employment company.


L-) Moving to another question will save this response ⓒ Question 4 10 points Which of the following is an organization designed to settle trade disputes? WTO USSR NAFTA GATT


Moving to another question will save this response. Question 5 10 points Tariffs imposed upon u.s. rice imported into Japan tend to harm Japanese consumers and help Japanese rice producers. help U.S. consumers and harm Japanese rice producers help Japanese consumers and harm Japanese rice producers. harm U.S. consumers and harm Japanese rice producers.

Moving to another question will save this response Question 6 of 10 10 points Save Answer If the opportunity cost of producing a ton of coffee in the U.S. is twenty tons of rice, while the opportunity cost of producing a ton coffee in Costa Rica is four tons of rice, and the terms of trade are ten tons of rice delivered per ton of coffee received, the U.S. can benefit by trading rice to Costa Rica for coffee. Costa Rica can benefit by trading rice to the U.S. for coffee. Costa Rica can benefit by trading coffee to the U.S. for rice. the U.S. can benefit by trading rice to Costa Rica for coffee, and Costa Rica can benefit by trading coffee to the U.S. for rice.

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An overhaul of the US Postal Service Reason: The USPS was already on a downhill and making losses in 2008 and thus the Congress rejected the proposed trade pact to overhaul the loss-making USPS which was already facing tough competition from Amazon The preservation of high employment company Reason: Opening of trade would lead to increased immigration of labor in the country and thus the domestic labor might get replaced by foreign labor and thus domestic employment would come down 4 WTO Reason: The World Trade Organization was setup to settle all trade related disputes among countries and encourage peaceful and harmonious trade relations between countries Harm Japanese consumers and help Japanese rice producers Reason: Imposition of tariffs on US imports would increase the price of US rice and thus consumers in Japan would have to pay higher prices to buy US rice. This would harm Japanese consumers. This would make Japanese rice look comparatively cheaper and thus demand for Japanese rice would increase, thereby benefitting Japanese producers Costa Rica can benefit by trading coffee to US for rice Reason: Since Costa Rica has a comparative advantage in production of coffee (because of lower opportunity cost), and TOT are greater than its current opportunity cost, Costa Rica should produce and sell coffee to US

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