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Using your knowledge of economy theory, examine the market structure of international ports in East Africa and the implications for the welfare of importers and exporters in that region.
Because of specialization and comparative advantage, most people a. consume only what they produce themselves b. consume the products produced by their family and friends c. consume the products of ma
Why would Argentina want to limit imports of cotton? What does this suggest about the natural free trade pattern of specialization in Argentina? i.e. would we expect that it would be a net importer
Lamy's comments suggest that China is both an importer and an exporter of agricultural goods. Of the 5 models we've learned in class, which one(s) would support this existence of incomplete speciali
Question 1. Why does the US have a comparative advantage in the production of manufactures? Question 2. Why does Africa have a comparative advantage in the production of food?
Empirical studies reveal a positive correlation between ethical conduct in a corporation and job satisfaction.
Prove that when both countries are producing both goods, the world can be made better off by allowing England and Portugal to reallocate labor and trade in accordance with the patter of comparative
In the light of the Ricardian model, how might you evaluate the claim by developing countries that they are at a disadvantage in trade with powerful industrialized countries?
Does either country have absolute and/or comparative advantage in any product? Provide support for your answer by computing the "resource costs" or opportunity costs for both products in both countr
How can this concept be applied to the activities of profit making companies and profit loosing companies or to the revenue and costs components of a firm's net profit
Answer the next question on the basis of the following production possibilities data for Landia and Scandia: Refer to the above data. What would be feasible terms of trade between Landia and Sca
Explan the increasing returns to scale as a basis for international trade. Be sure that you define the relevant concepts, describe important features of such trade, and contrast these features with
Ignoring the mathematics, explain the operation of the Krugman model in economic terms and indicate its principal lessons.
Which of the following statements correctly distinguishes capitalism from socialism?
Assume Nebraska and Virginia each have 100 acres of farmland. The following table gives hypothetical figures for yield per acre in the two states:
Problem 1: Construct a quantitative example to illustrate the principle of comparative advantage. Problem 2: What are dynamic effects of free trade and why might they be important?
Define the concept of comparative advantage. How can a country gain or lose its comparative advantage in the production of a good?
Two individuals are having a picnic. Jane brings 8 litres of soft drinks and 2 sandwiches. Bob, on the other hand, has 2 litres of soft drinks and 4 sandwiches. With these endowments, Jane's margina
a. What is the opportunity of producing a unit of wheat in the United Kingdom? In the United States? b. Which country has an absolute advantage in producing wheat? In producing cloth?
Describe how international trade affects our economy. How the concept of comparative advantage was relevant to the trade negotiations? You may use the following scenarios in your discussions.
Question 1. How does trade affect the production possibilities frontier? Question 2. Give an argument for or against trade. Explain your reasons.
Define and explain the difference between absolute advantage and comparative advantage. What is the significance of each in international trade processes?
Problem: Describe how comparative advantage is relevant for trade and how even when a country has an absolute advantage in both goods it can still gain from trade.
The static gains from trade are usually expressed in terms of comparative advantage. How, according to the theory of comparative advantage, do nations that open themselves to trade benefit?
Prepare a vertical analysis of the 2009 income statement data for Douglas Company and Maulder Company in columnar form.