SCENARIO BACKGROUND:  The controversy surrounding the European…

AdmiralSpiderPerson55 SCENARIO BACKGROUND:  The controversy surrounding the European…Image transcription textTake-Home Assignment #2: What are the likely consequences ofthe US. and Canada becoming one country? Putting politics,culture, refugee crisis, and patriotism aside, if lCanada … Show more… Show moreSCENARIO BACKGROUND: The controversy surrounding the European Union, as well as the recent increase in tension between the U.S. and Canadian leaders, prompted many American analysts and politicians to weigh the pros and cons and predict the likely economic of closer integration in North America. While most agree a US-Mexico union would have to outweigh negative consequences for the US at this stage, primarily because of the great economic, political, societal, and cultural differences between the countries, there is no consensus on the likely outcomes of a US-Canada union. Opinions range from “it would be a great economic success” to “it would ruin the economies of both countries”.The President and his administration do not see a US-Canada union as a likely scenario for the nearest future, but the government strategies have to consider and be prepared for any scenario, no matter how unlikely it may seem.As a person knowledgeable in the area of the effects of government interventions in trade and regional integration, you are one of many experts invited by the Strategy Division of the Presidential Advisory Board to provide your visions on the likely consequences of a US-Canada Union. The scenario is planned for an economic union (common currency, taxes, laws, and regulations, economic and foreign trade policies, unrestricted within-union trade and employment, central parliament, etc.) though a possibility of a political union is also considered.The task is to predict the likely consequences of such a union, the two countries essentially becoming one, on public opinion, prices, internal and external trade, employment, investments, revenues, and consumption. It is made very clear that your opinion must be rooted in the existing economic theory covered in MGT 301. There are five questions (see the template on the next page): If the US and Canada were to become one country, how would that likely affect the following domains of life? Note: Please keep in mind that even though Canada and the U.S. are currently in a free-trade zone, there are many administrative, monetary, and political barriers to trade. For example, the traders must deal with the uncertainties and costs of currency exchange, the need to do separate certifications in each territory, differences in taxes, and other issues. So the trade between, for example, Montana and Alberta is still much harder than, for example, between North Carolina and Virginia. The proposed scenario assumes a political union and the removal of all trade barriers. Note: The questions are about the changes in what today is the U.S. (will it affect the variety of products, prices, wages, unemployment, and so far in the U.S. part of the new country). However, the assumption is that the effect will be the same for both parts of the new country. If you believe that the effect will be different, you can explain it, though such differentiation is not required.  Image transcription textLikely public opinion about the U.S.-Canada becoming onecountry? O Negative in both countries O Positive in Canada butnegative in the U.S. O Positive in the U.S. but negative i… Show more… Show moreImage transcription text2 (5%, Trade Volume) If Canada and the U.S. became one country(one currency, one president, one parliament, one army), howwould that affect the trade volume between these terr… Show more… Show moreImage transcription text(5%, Variety) What will be the likely effect on the variety ofproducts available to the consumers in the two countries?Increase Remain the same O Decline Question 7 0 pts … Show more… Show moreImage transcription text(10%, Prices) What is the likely effect on the prices of productsavailable to consumers? Increase O Remain the same O DeclineQuestion 9 0 pts Explain the mechanism that will incre… Show more… Show moreImage transcription text(10%, Quality) What is the likely effect on the quality of productsavailable to consumers? Increase Remain the same DeclineQuestion 11 0 pts Explain the mechanism that will imp… Show more… Show moreImage transcription text10%, Consumption Based on your answers to the earlierquestions, What is the likely effect on the consumption ofproducts by consumers? That is, will the consumers no… Show more… Show moreImage transcription text(10%, Production) Based on your answers to the earlier questions,What is the likely effect on the production volume? That is, howwill the volume of cumulative production of products c… Show more… Show moreImage transcription text(15%, Employment) Based on your answers to the earlierquestions, What is the likely effect on employment? O Increase(more people working) O Remain the same O Decline (… Show more… Show moreImage transcription text8a. (Winners, 15%) List at least 3 groups (bullet list of specificexamples of groups of people, companies, or industries) that arelikely to benefit from Canada and the U.S. unification a… Show more… Show moreImage transcription textQuestion 19 15 pts 8b. (Losers, 15%) List at least 3 groups (bulletlist of specific examples of groups of people, companies, orindustries) that are likely to be hurt by the unification … Show more… Show moreNeed help with this assignment pls.BusinessBusiness – Other