international trade

international trade

Order Description
its international trade unit in bachelors of economics and in this assignment am required to,

To answer the questions 1 and 2, first get the data and follow these steps.

1. Questions 1 and 2 require you to obtain data for Mexico and Argentina.

2. Obtain country-level data on imports of goods and services (in current US$),
exports of goods and services (in current US$), GDP (in current US$), GDP per
capita (in current US$) from the World

Bank’s World Development Indicators
(https://databank.worldbank.org/data/reports.aspx?source=world-developmentindicators).

[Note that if your browser (such as Chrome) does not open the
webpage, try a different browser (such as Internet Explorer)]

3. For simplicity, use data measured in current US dollars ($) as indicated above.

4. Pick data ranging from 1990-2012.

5. DO NOT attach Excel files to the assignment.

follow the above steps to obtain the data of mexico and argentina and based on the report am required to
1. Calculate openness as a percentage for Mexico and Argentina. Explain how you
calculated openness, i.e., write down the formula. Using a graph of Openness (as
a percentage) versus time, explain in up to 100 words how openness has changed
for these countries from 1990 to 2012. Put Mexico and Argentina in the same
graph and make sure your graph is properly labelled.

2. Explain in up to 100 words the relationship between Openness and economic
development by calculating the correlation coefficient between GDP per capita
(proxy for economic development) and Openness for Mexico and Argentina,
respectively. [Here you have to use the CORREL command in Excel].

3. Consider the following model of trade between Home and Foreign. Assume
throughout that those two countries are the only two countries in the world, at
least for purposes of trade. There are two goods: Tables and Chairs. Consumers
always spend two fifths of their income on chairs and the remainder on tables.
The only factor of production is labour. Each home country worker can produce 1
table or 4 chairs per unit of time, while each foreign worker can produce 2 tables
or 2 chairs per unit of time. There are 20 workers in Home and 30 in Foreign.

(a) Which country has an absolute advantage in tables? In chairs?

(b) Which country has a comparative advantage in tables? In chairs?
(c) Draw the typical worker’s budget line in both countries (put chairs on the
vertical axis and tables on the horizontal axis).

(d) Draw the production possibility frontier for each country (put chairs on the
vertical axis and tables on the horizontal axis).

(e) Find the autarky relative price of tables in both countries (i.e., the price of
table divided by the price of chair).

(f) What is the optimal consumption and production for each country under
autarky?
am going to upload the assignment guide, please provide a professional graphs.

its very important to obtain the data from the link above its all there am sure you know how to use the world bank data base to obtain the required data and finally show the formulas while answering

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