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Explaining Why is economic development important? Listing What factors can be obstacles to economic development?
Explain the significance of developing country, primitive equilibrium, takeoff, crude birthrate, life expectancy, zero population growth and external debt.
Apply the principle of comparative advantage to the way you and your friend worked. How could you have completed the project more efficiently? Explain.
Foreign Exchange How does a weak U.S. dollar affect you as a consumer? How does a strong dollar affect you? Explain.
Based on your log and the information in this chapter, write a persuasive essay supporting or opposing international trade.
What predictions would you make about future changes in the value of the dollar in foreign exchange markets? Would these developments be a matter of concern?
Synthesizing Information Why do you need to know the exchange rate when you plan a trip to a foreign country?
Drawing Conclusions How do trade deficits correct themselves under a system of flexible exchange rates?
Analyzing Information Some people think the United States should return to a system of fixed exchange rates. Defend or oppose this view.
Making Inferences How might the issue of protectionism differ for a worker and a consumer? Use examples to support your argument.
Drawing Conclusions The Communists promised people that their system would lead to workers' paradises throughout the world. Why do you think communism failed?
Explain why countries would want to make a transition to capitalism. Describe how Latin American countries have approached the transition to capitalism.
Explain how a developing country can attract foreign capital. Identify the benefits of membership in the European Union.
Summarize the articles and answer the following question: How do changing gasoline prices impact AS and AD? Explain your answer.
Explaining Why is macroeconomic equilibrium important? The BIG Idea How do aggregate supply and aggregate demand help economic policy makers?
Explain the significance of macroeconomics, equilibrium price, aggregate supply, aggregate supply curve, aggregate demand and aggregate demand curve.
To locate, retrieve, and evaluate the effects of macroeconomic indicators on your own decision making.
The BIG Idea How can the projection of population trends help determine the direction of economic development?
Explain significance of census, urban population, rural population, center of population, infrastructure, baby boom, population pyramid and dependency ratio.
Synthesizing Information Describe the limitations of GDP. Drawing Conclusions What would be the effects of a decline in GDP?
Stating What is the circular flow of economic activity? The BIG Ideas Explain why GDP is important to economists.
Explain the significance of macroeconomics, gross domestic product, intermediate products, secondhand sales, nonmarket transactions and underground economy.
How many fish should a commercial fisherman try to catch in a day? Should he catch as many as possible or return to dock before filling the boat with fish?
How can the demand curve facing a firm be horizontal if the market demand curve is downward-sloping?
What economic costs will a large corporation likely overlook when computing its profits? How about the owner of a family-run business or farm?