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A) What is an absolute advantage? What is a comparative advantage?
B) Give an example where you have an absolute but not a comparative advantage.
C) Why should we specialize and trade?
A country has national saving of $70 billion, government expenditures of $20 billion, domestic investment of $30 billion, and net capital outflow of $40 billion. What is its supply of loanable funds?
Illustrate what would happen in the Tempe pizza marketplace if pizza also sub sandwiches are substitutes also there occurred
Assume the inflation rate is constant. Write down this number on a piece of paper because you will need the information for a subsequent question.
Write an equation for predicting sales if Austen assumes that the percentage change in sales is twice as large as the percentage changes in income and advertising
If a firm adopts a production process that is costly in order to reduce pollution, the results
The article touches on two crucial conditions for a fiscal stimulus to work.
What institutions are prerequisite for economic growth? What is the role of rule of law in economic development?
Suppose the government increases G to 1250. Compute private saving, public saving, and national saving and the new equilibrium interest rate.
"The cost of a bushel of wheat, which was $3.00 last month, is $3.70 today. The demand curve for wheat must have shifted rightward in last month and today." Discuss
Analyze and discuss the roles of physical capital, human capital, technology, and natural resources in influencing long-run economic growth of aggregate output per capita. Then discuss how governments can contribute, or discourage, long run growth th..
"The lowering of barriers to trade and investment between countries within a trade group will probably be followed by increased price competition." Do you agree? Why? Why not?
After wearing seat belts became malsoatory, drivers reacted by driving faster also less carefully. This is consistent with Illustrate what Principle of Economics.
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