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1. Identify and explain the major differences between the (Ricardian) Theory of Comparative Advantage and the (Heckscher-Ohlin) Factor Endowments Theory. Identify three industries in which the United States is likely to have a comparative advantage over its major competitors - briefly explain your choices.
2. Carefully review the Heritage Foundation Index of Economic Freedom for 2013. Choose three countries and find their economic freedom index ranking.
Discuss the rationale for their placement on the Heritage Foundation list.
3. Review the list of trade dispute settlements on the World Trade Organization
Choose three trade dispute cases that involve the United States as a counterparty; discuss their origins, rationale and resolutions.
4. Explain the major provisions of the Uruguay Round of multilateral trade negotiations.
5. Discuss and explain the major provisions of the North American Free trade Area (NAFTA) agreement. Briefly discuss the major benefits of NAFTA to the U.S. economy.
Explain for each event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand, or some combination of them. Explain the separate effects of each event on U.S. real GDP and the price level, starting from a positi..
Despite the accepted benefits of comparative advantage, international trade has been impeded by various governments around the world through the implementation of protectionist policies such as:
Assume that the Kiribati can manufacture 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can manufacture 750 tons of breadfruit or 1875 tons of fish.
Explain how did Japanese central bank intervene the exchange rate between Yen and Dollar in foreign exchange markets and what was the government's justification for the intervention
The Cadbury Code of the Best Practice adopted in the United Kingdom led to a successful reform of corporate governance in the country. Explain the key requirements of the Code and discuss how it may have contributed to the success of reform.
The US cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Under the proposed settlement, cigarette companies will make fixed annual payments to the government
In the City of Joplin, due to weather devastation and hurricane effects, the cost of parking in the local Square has increased by 20%. This change
China and Japan have two factors of production, land and labor. Both nations manufacture two products, corn, which requires more land, and computers, which requires more labor.
The participation of women in the U.S. labor force has risen dramatically since 1970. How do you think this rise affected GDP Imagine a measure of well-being that includes time spent working in the home and taking leisure.
Use the table given below: Value in billions In each of following cases, indicate if GDP is affected, under what category and what happens to GDP.
What effect does the Internet have on the efficiency of markets? Explain. How is the Internet likely to influence productivity and the growth of output in the years immediately ahead?
Using the concepts of rational behavior, utility, opportunity cost, marginal benefits and marginal costs, and allocative efficiency and content from the economics USA. comment on whether the United States should drill for oil in Alaska and off the..
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