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Select two of the questions below and answer in essay format.
1. Define absolute advantage and comparative advantage and explain how they affect trade between nations. Give an example of an absolute advantage that China has over the United States and an example of a comparative advantage that the United States has over China.
2. Explain how the exchange rate impacts the value of currency (in the economy). Compare and contrast using the U.S. dollar and the euro.
3. Describe how socio cultural differences can become barriers to international trade and how these differences can be addressed to avoid a negative impact on global business.
4. The International Monetary Fund (IMF) exists to promote international economic cooperation and stable growth. Describe how the IMF accomplishes this
the wealth of nations of modern economies when the federal government uses expenditures to stimulate the economy it
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How does the U.S. department of agriculture calculate the official poverty level? What government assistance programs does the census bureau consider when calculating household income? What programs are ignored?
in january 1 2002 there were 15 member countries in the european union. twelve of those countries eliminated their own
Desscribe some of the trade-offs faced
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Write down the difference between Equilibrium price and Equilibrium quantity. What role does elasticity place?
In the analyses below, when drawing your diagrams assume that students can choose among only two products on campus, namely tobacco and food.
Show what happens to producer surplus, worker surplus and the gains from trade as workers migrate from a low- wage to a high- wage region. What happens to wages and employment if the government imposes a payroll tax on a monopsonist? Compare the r..
a poncho company has the following short-run production functionq l 100l 5l2the cost of capital in the short-run is
following brander and spencer 1983 and 1985 consider two countries denoted by i x y each of which has one firm
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