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What is the difference between absolute and comparative advantage?
Difference between absolute and comparative advantage:
• Absolute advantage arises while a country or region can create more of a product with the same factor inputs.
• Comparative advantage exists while a country has lower opportunity cost into a good or service production.
What is Foreign Debt Management? Debt management considers as to the arrangements made to: • Protected the suitable amount of borrowing to deliver growth • Ignore excess
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Suppose that historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-
Why does economic development engage structural change? The process of development needs structural change. Usually economies develop by moving resources through agricultural
I need answers for exam 3 & 4.
Problem: (a) Critically asses the difference between economic growth and economic development. (b) Describe the definition of economic development as a multidimensional pro
Keynesian economics policy could be distinguished from the classical economics as the main through of the classical theory is that supply creates its own demand which is described
Advanced Technology, Inc., (ATI) is evaluating a contract proposal calling for it to build and test bearings using a newly patented surface configuration. ATI would receive $1.4 mi
you are appointed secretary of the treasury of recently indepent country called rugaria
1) Between mid 2008 and mid 2009 measured RGDP in the economy fell by 3.8% as the US economy sank into a recession. Over that same time period total employment in terms of hours wo
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