Elucidate facilitating factors that explain the growth
Elucidate facilitating factors that explain the growth of trade?
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1. Transportation technology has improved over the years.
2. Communications technology allows traders to make deals in trade and global finance very easily.
3. Trade barriers declined dramatically since 1940, and the trend toward free trade continues.
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Describe the Functional distribution of income?
Drawing a production possibilities frontier needs the supposition that: (1) Decision makers encompass discretion over resource accessibility. (2) Technology is constant. (3) Income is fairly distributed. (4) Resources are considerably diverse. (5) At least three goods
Suppose studies show that students who study more hours receive higher grades. Is there any relationship which guarantees that any particular student who studies longer will get higher grades?
Question: 1. Long-term Growth, International Trade & Globalization a. In terms of understanding the importance of trade to an economy, the most impor
What explains why millions of economic resources tend to get arranged logically and productively rather than haphazard and unproductively?
The price of KnickKnacks is $1 and the price of WigWags has increased with $2 to $3. Therefore: (w) absolute price of KnickKnacks has decreased and the relative price of WigWags has increased. (x) relative and absolute prices of KnickKnacks have
Use the circular flow model to confirm this assertion for $50 million increase in spending for space research?
Illustrate and clarify the economizing problem?
Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?
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