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1. Explain how absolute advantage and comparative advantage differ?
2. Give an example in which a person has an absolute advantage in doing some thing but another person has a comparative advantage .
3. Will a nation tend to export or import goods for which it has a comparative advantage? Explain.
4. Why do economists oppose policies that restrict trade among nations?
5. What are the different applications of comparative advantage?
1. How can a nation and its producers determine whether or not it has a comparative advantage in producing a particular good or service? a 2. The above figure show
What are the main causes of unemployment? Two main paths are available; demand-deficient unemployment and real wage unemployment. After explaining unemployment (percentage o
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in the keynesian model, the price is assumed to be what?
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