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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.
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Trends of Trade Shares: India's share in total world exports in 1950 was 1.85 percent and the share in total world imports was 1.7 1 percent. The share of both exports and imp
:- Consider a closed capitalist economy in which all productions is undertaken by100 firms and wages and profits are theonly 2 categories of incomes. Assume further that all wages
real gdp measures?
The annual income from an apartment complex is $20,664. The annual expense is estimated to be $3,414. The apartment complex could be sold for $146,499 at the end of 10 years. If yo
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In a Poisson distribution U=4. A) What is the probability that X=2? B) What is the probability that X is 2?
The rate of interest in the UK also showed very interesting results, to an impulse shock on oil price. The middle left graph from Fig 4.4 shows the results. Initially, in the short
i need help comparing real values in the base year dollars
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