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Question:
Create an example of an absolute advantage model by choosing two countries and a single product.
a. Draw a diagram describing autarky and a pattern of absolute advantage for your example.
b. Show the transition from autarky to trade in your diagram, label the trade flows, and demonstrate the gains from trade.
c. In a new diagram, and starting from a trading equilibrium, show what would happen to the world price if income increased by exactly the same, small amount in both countries.
Suppose last year's real GDP was $7,000 billion, this years nominal GDP is $8,820 billion, and GDP-deflator for this year is 120. Determine the growth rate of real GDP?
I would have selected JEL industries as it is located in a nation which is part of the European Union and using Euro as its currency.
question 1a explain the impact of external costs and external benefits on resource allocationb why are public goods not
Write a 500 to 750 word paper in APA format conveying the salient points of this reading material. Comment on the current state of international trade based on this material and offer observations based on current affairs.
Use the table given below: Value in billions In each of following cases, indicate if GDP is affected, under what category and what happens to GDP.
Economist A argues that the behavior of Europa's economy is in line with the predictions of the Solow Model. She explains that all determinants of long-run output levels are the same across the two economies, expect for hours worked.
Suppose that an auto company owned entirely by German citizens opens a new factory in South Carolina. What would be the effect of this investment on U.S. GDP Would the effect on U.S. GNP be larger or smaller
If you were an economic adviser to the president of the United States how would you adjust the federal budget to address your concerns regarding federal, domestic spending?
If the firm has not paid dividends in the past despite the availability of cash, and the corporate intention is to continue to forgo paying dividends in the foreseeable future, disclosure of this policy is encouraged.
International Trade - Assignment How might democratic states avoid a ‘protectionist backlash' against free trade and If there are gains from trade liberalisation, then why do countries so often choose protectionism?
Productivity is found by dividing the country's gross domestic product by the number of people employed. Only part of the US productivity growth, can be explained by the longer hours Americans are putting in [The US] also beats all 27 nations
What is the forward premium on euros (the forward discount on dollars)? What is the difference between the interest rate on one-year dollar deposits and that on one-year euro deposits (assuming no repayment risk)?
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