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For each question, answer T/F/U and briefly explain the answer in your own words
1. In the Ricardian model, two countries can gain from trade with each other even if their relative prices in autarky are the same.
2. In the case of U.S. textiles, the United States should not import textiles from Asian nations since it has absolute advantage in production.
3. In the real world, there is no support for the Ricardian model of trade: the prediction that wages are determined by labor productivities does not hold in the data.
4. In the Ricardian model, trade with a low wage country will increase aggregate unemployment levels.
5. Wages in the US are $15/hour while wages inChina are $3/hour. Goods manufactured using only labor will be 5 times cheaper in China.
In the context of international tourism, discuss with examples, the reasons why the East Asia/Pacific region is the fastest growing international tourist generating region.
What are the requirements of acceptance as provided under Contracts Act 1950 (revised 1974) and decided cases.
A decrease in demand for the goods and services in the market, and a higher equilibrium price. A decrease in supply and an increase in demand in the market, but we cannot know the direction of the price change without further information
Explain when we look at the macro economy the similar terms are known as Aggregate Demand
Discuss the role of the Federal Open Market Committee in conducting monetary policy.
The bonds are identical in every way (e.g. they have the same coupon payment, maturity data, etc.), except that A is "riskier" than B - i.e. you think the probability of full payment of principal and interest is lower for A than it is for B.
Do you think lotteries have both micro and macro economic effects or only micro. how do lotteries change what and for whom goods and services are produced.
It is sometimes said that declining fertility was a major contributor to sustained economic growth among the Asian tigers. Do you agree with this view? Use the microeconomic theory of fertility to argue that it was a rise in wages, spectacular g..
Record the following given transactions of a company in general journal form;
Assume the firm raised the price to $4.00 while increasing the advertising expenditures by $100. Would this be beneficial. Explain. Illustrate your answer with the demand schedule.
The total dollar value of all final goods and services produced within a nation in a particular year + income earned by its citizens (including income of those located abroad) - minus income of non-residents located in that country is generally ca..
At this point, you are going to prepare for potential interviews. For this assignment, research common interview questions for IT career opportunities, and post your opinion on the following question.
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