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Despite the economic progress that the U.S. has observed in thepast century, the standard of living remains extremely low in manycountries. Consider the following regarding poverty indeveloping countries:
Why are some countries rich while others are poor?
Consider some primary differences between countries which differences do you expect to affect economicgrowth and wealth?
Still remaining within the Ricardian framework, Suppose that the Canada has one hundred units of labor available for production while Mexico has two hundred units of labor and both nations produce corn and wheat.
Assume that the banking system initially has no excess reserves and that the reserve requirement is 10 percent. Also suppose that velocity is constant and that the economy initially is operating at its full-employment real output.
the European Union (EU) is increasing its productivity very rapidly inall industries. He claims that this productivity advance is sorapid that output from the EU in these industries will soon exceedthat of the United States and, as a result, the U..
Describe unequivocally why the foundation of trade has nothing to do with absolute advantage and only law of comparative advantage is relevant.
Assume that the market is explained through the following supply and demand equations, Determine the equilibrium price and the equilibrium quantity.
Several industrialized nations such as the U.S. attempt to seriously restrict immigration of production workers, but are more open to immigrants who are highly skilled.
Suppose inflation rate in Philippines is 100% over one year, but the inflation rate in Japan is only 3%. According to relative PPP, what should happen during the year to the Japanese yen exchange rate against the Philippine peso
Is the U.S. truly an economy that promotes competition and do you think about the markets where major oligopolies exist, for instance soft drinks or fast foods and automobile producing,
Many have claimed that outsourcing by American companies is costing American jobs. However, companies claim that they cannot compete if they do not cut cost and one effective way of cutting cost, is to have some of your goods produced outside
Define Phillips curve suppose the economy's aggregate supply curve is stable, how would an increase in aggregate demand affect the unemployment rate and the inflation rate?
What is offshoring of white-collar service jobs, and how does it relate to international trade? Why has it recently increased? Why do you think more than half of all offshored jobs have gone to India?
Two horizontally differentiated producers of diesel railroad engines- one located in the United States and the other in Europe - compete in the European market as Bertrand price competitors. The U.S. manufacturer lobbies the U.S. government to giv..
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