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Assignment:
Absolute and Comparative Advantage
A. What is an absolute advantage? What is a comparative advantage?
B. Give an example where you have an absolute but not a comparative advantage.
C. Why should we specialize and trade?
Using the purchasing-power-parity theorem, explain what happens to the value of a currency if its domestic inflation is lower than foreign inflation.
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Draw a smooth convex utility indifference curve and indicate optimal consumption point for a student who chooses not to resell the ticket under (2)
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choose and research a specific business that is publicly traded where there has been a pattern of change in a
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What is the production effect of a tariff? How would you describe it in words, without reference to any diagram or numbers?
1. I believe I improved my knowledge within this class in multiple ways a few of these include being able find research better. I also was able to learn a lot form this class and gained vast amounts of knowledge that I previously did not know. I also..
dimex fabrications co. a small manufacturer of sheet-metal body parts for a major u.s. automaker estimates its
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Currently used cars are in high demand, so you can still resell this Camry today for $10,000. What is the overall sunk cost associated with this Toyota Camry
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