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Differences between absolute advantage and comparative advantage?
Ans) Absolute benefit and comparative benefit are two basic concepts to international trade. Under absolute benefit, one country can make more output per unit of productive input than another can. With comparative benefit, if one country has an absolute (dis)advantage in each type of output, the other may advantage from specializing in and exporting those products, if any exist.
dynamic multipier
discus the various measures that may be taken by a firm to counteract the evil effect of a trade cycle
ORDINAL THEORY: INDIFFERENCE CURVE APPROACH In indifference curve approach consumer is assumed to be rational, so that consumer's objective is to maximise her utility by choos
According to the imperfect-information model, when the price level is greater than the expected price level, output will _____ the natural level of output A) be greater than
The Government, Rest of the World and the financial markets total expenditure of government can be divided into two parts: transfers to private sector and consumption.
What is gross national income per capita The absolute difference in gross national income per capita is 29,828 PPP$ that means UK income per capita is approximately 860% higher
As people went from barter societies to more advanced economies, money had to be invented. Several things successively served as money in the course of economic evolution. Arrowhea
Singer suggests that although the right to sell blood does not threaten the formal right to give blood, it is incompatible with "the right to give blood, which cannot be bought, wh
Exchange Rate Management: Following two stage devaluation of the Indian rupee in quick succession in July 1991, the government introduced Liberalized Exchange Rate System
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
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