Between 2019 and 2023, the value of Canada's industrial machinery and equipment exports fell by 14.2%. In contrast, the global average increase in industrial machinery exports was 5.8% over the same period. Canada's international competitiveness index ranking also fell, dropping seven places from 11th in 2019 to 18th in 2023.
Evaluate macroeconomic policies that could be used to increase international competitiveness in Canada's industrial machinery and equipment export sector.
103 exam-style questions on Edexcel A A Level Economics 4.1 International economics, covering 4.1.1 Globalisation, 4.1.2 Specialisation and trade, 4.1.3 Pattern of trade, 4.1.4 Terms of trade, 4.1.5 Trading blocs and the World Trade Organisation (WTO), 4.1.6 Restrictions on free trade, 4.1.7 Balance of payments, 4.1.8 Exchange rates, and 4.1.9 International competitiveness. Each one has a worked solution and a mark scheme showing where the marks go.