A. Home . Foreign C. Cannot conclude 6. According to the figure on the right, fr

Question

A. Home . Foreign C. Cannot conclude 6. According to the figure on the right, from TTI to TT3, thePood country has an economic growth that is: A. Not biased B. Biased towards food C. Biased towards cloth 7. According to the previous question, if Home experiences such a biased growth, and we know that Home exports food and imports cloth, then Home's terms of trade will (; this change on terms of trade will generate a ( ) to Home's economy. A. Increase; secondary benefit B. Decrease; secondary benefit C. Increase; secondary burden D. Decrease; secondary burden 8. Which of the following statement is true: A. Inter-industry trade is explained by economics of scale B. Intra-industry trade is explained by comparative advantage: C. The direction of intra-industry trade can be predicted by comparing the resource abundance between two countries. The direction of inter-industry trade can be predicted by comparing the resource abundance between two countries. D. Which of the following case shows dumping? A. 9. Foreign Market Home's Product Foreign's Product Home Market $5 S6 $5 Home Market Foreign Market $5 $5 $6 S6 Home's Product Foreign's Product C. Home Market Foreign Market S5 $4 $6 $4 Home's Product

Explanation / Answer

6 B that is biased towards food production .Because new equilibrium consist more food production .

7 A increase terms of trade because production of food product increase.

8 C intra industry trade can be predicted by resource abundance in two country.

9 C in dumping foreign product is sold in low cost by foreign companies in order to increase sale .

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