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Which of the following statements correctly distinguishes capitalism from socialism?
Since Canada can produce more of either product than Germany can, is there any reason for Canada and Germany to engage in trade? Explain.
What are your views of trade restrictions such as tariffs or quotas?
What are the pros and cons of companies competing in the global environment and how this has affected the U.S. economy and the global economy?
The price of gasoline is generally higher in Hawaii than in the continental United States.
What is the theory behind international trade? Has globalization been good for the United States?
Describe three oligopoly pricing models: a. the kinked-demand curve b. collusive pricing c. price leadership
Which country has the absolute advantage in the production of tanks? Why is it this country?
What is factor-proportions theory, and how is this theory useful in determining production advantages?
Refer to the above data. What would be feasible terms of trade between Landia and Scandia? Show any calculations.
Explain what can we learn from a country's production possibilities curve?
Explain the difference between comparative advantage and absolute advantage. Explain how economies benefit with specialization and trade.
What is Michelle's opportunity cost of producing chickens? What is James' opportunity cost of producing potatoes?
Draw the production possibilities frontiers for each country. (Put clothing on the vertical axis and food on the horizontal axis.)
What is Mary's opportunity cost of producing pigs? What is John' opportunity cost of producing corn?
- What is Mary's opportunity cost of producing corn? - What is Mary's opportunity cost of producing pigs?
What is Mary's opportunity cost of producing corn? What is Mary's opportunity cost of producing pigs?
Why do you think it will be interesting to focus in the economic ideas of Walmart?
Calculate Real GDP for 2007, assuming that 2006 is the base year.
a. Calculate Canada's opportunity cost of one tonne of wheat. b. Calculate Chile's opportunity cost of one tonne of copper ingots.
Do you thus conclude that the Linder hypothesis must necessarily offer a good explanation of Germany's trade? Why or why not?
The theory demonstrates how trade affects the distribution of income within trading partners. Explain.
What impact do lower transportation costs have on the market power of individual producers? Do you think the U.S. economy is more or less competitive today?
Why are real wages in the United States higher than in other countries? Is the labor force itself responsible for the higher wages of American workers? Explain.
If foreigners have confidence in the U.S. economy and therefore move to expand their investments. How will the exchange rate value of the dollar be affected?