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1. Economic theory suggests countries benefit from international trade by producing more of those good and services for which they have a comparative advantage ( and less of that of which a country does not have a comparative advantage). However, countries rarely specialize completely. why?
2. Even with international trade, countries rarely specialize completely because:A. consumers in different countries have homogeneous tastes.B. some countries would lose as a result of free tradeC. production of most goods involves increasing opportunity costs.D. all goods and services can be traded internationally.E. some countries do not have an absolute advantage producing anything.
What would be the effect on the developing countries of the world if we were to change to a steady-state economic system?
google books has a new feature that allows users to search for the historical use of specific words within the
Illustrate what factors might explain closer than expected correlation observed.
Assume labor's share of GDP is 70% and capital's is 30%, real GDP is growing at a rate of 4 percent a year, the labor force is growing at 2 percent, and the capital stock is growing at 3%.
Illustrate what are the roles of central bank independence and financial market development in budget deficits and inflation.
Could anyone find out how the Consumer Price Index (CPI), the primary measure of inflation used by the government, is calculated. Why might this method not reflect the real cost of living increase for the average person.
Discuss the limitations of relying on random experiments to evaluate policy impacts and validity of experiments that are actually conducted, and two reasons that it is often not feasible to conduct random experiments in practice.
The company tresurer must determine the best depreciation method for office furniture that costs $50,000 and has a zero salvage value at the end of a 10-year depreciable life. Compute the amount depreciated at the end of year 5 using the MACRS me..
Keep in mind that the oil price is not the same as the price level in macroeconomics diagrams, even though the changes in oil price indirectly affect the general price level (such as CPI and GDPD).drawing of macroeconomic model of AD-AS behavior
Show the weekly relationship among output also number of workers for a factory with a fixed size of plant.
Has oil always been a scarce resource? Why/why not? To answer this, one must understand what resources are and what makes them scarce. Give an indepth reason
Many home improvement retailers like Home Depot and lowes have low-price guarantee polices. Do these types of pricing strategies result in cutthroat competition and zero economic profits?
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