Reference no: EM132234168
Question: Primary Task Response: Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
In the Mercantile period, from the 16th through the end of the 18th centuries, trade was driven by a need to accumulate gold and silver. Nations worked to restrict imports and drive exports. With the advent of the Industrial Age, classical economists began to look at trade and international commerce in a different light. In his seminal work The Wealth of Nations, Adam Smith discussed the idea that the basis of trade could be seen in light of what he called absolute advantage. His contemporary, David Ricardo, took a different and modified approach and laid out a framework called comparative advantage. This latter theory is the basis for all modern views of international trade. For this Discussion Board, complete the following:
• Define absolute and comparative advantage.
• Compare the two views on trade.
• How does the concept of opportunity cost factor into comparative advantage?
• Discuss why you think comparative advantage has become the fundamental and accepted theory of trade. Provide concrete examples.
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Calculate the current ratio and acid test ratio
: The following data pertain to Charlie Company for the year ended December 31, 2018: Calculate the Current Ratio and Acid test ratio
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What coso internal control principles are applicable
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Compute the accounts receivable turn over
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Prepare the General Journal entries for the August
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Define absolute and comparative advantage
: Primary Task Response: Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments.
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Opposing hypotheses is called statistical hypothesis test
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Explain potential solutions or recommendations
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Prepare adjusting general journal entry for the fiscal year
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Explain the consequences of such a decision on the economy
: Discuss why you believe that the FOMC has made such a decision, and explain the consequences of such a decision on the economy.
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