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Differences between absolute advantage and comparative advantage?
Ans) Absolute benefit and comparative benefit are two basic concepts to international trade. Under absolute benefit, one country can make more output per unit of productive input than another can. With comparative benefit, if one country has an absolute (dis)advantage in each type of output, the other may advantage from specializing in and exporting those products, if any exist.
We divide all firms into 3 categories: FR includes all firms which acquire raw material (iron ore, farm products and so on), FH all those that produce semi-manufactured goods (stee
If you take nations total income and subtract out private consumption government consumption what you will find?
Examine the graph below. The mayor has placed a $2 tax on the sale of each taco sold within the city. How large is the decrease in producer surplus?
As it turns out, there is little evidence to support a direct causation between income and children. (If I am poor, then I will decide to have a lot of children? Alternatively: I h
Question 1: Discuss why living standards are higher in some countries than others. Question 2: (a) How is inflation measured? (b) What are the causes and consequence
What is total surplus in net gain? Total surplus in net gain: The total surplus generated into a market is the total net gain to consumers and producers through trading into
state and explain two factors that cause the shifts in the balance of payments curve.
If a social entrepreneur is relying on contributions, are there not risks in being accountable and using that money wisely?
Explain determination of national income using aggregate demand-aggregate supply and saving-investment methods for a three sector economy.
TRADE IN SERVICES: India had objected to the inclusion of trade in services in the agreement for the UR negotiations. The Indian negotiations continued to raise object
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