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1. International trade:
(a) Explain the concept of comparative advantage between two countries (use a numerical example to illustrate, and do not use the identical example in the lecture note).
(b) Explain the advantages of free trade.
(c) What are the potential problems (disadvantages) associated with free trade?
Suppose that industry 1 is monopolistically competitive, with a CES sub-utility function: U(c1,c2 ) = c1? + c?2 , 0 We let the marginal costs be denoted by c1(w,r), and the fixe
Chose a problematic situation that is related to your workplace and use the following approach to investigate it. Part A: i- Give a brief description of the situation.
In the Ricardian analysis, why does each trading partner have an incentive to produce at an endpoint of its production-possibility frontier? Why are prices of factors of production
Q. Explain why the dollar of the United States became the postwar world's key currency. Answer: 1. The untimely convertibility of the U.S dollar in 1945. 2.
#question.suppose that France has a trade surplus with the United Kingdom. What would you expect to happen to price, wages, and commodity price in France? why? What would happen to
#question.bhugtan santulan keya hai
Strategic groups "Strategic groups are organizations within an industry with similar strategic characteristics, following similar strategies or competing on similar bas
What effect do non-tradable goods have on PPP? Answer: The consequence is quite substantial. In 1997 the production of non-tradable goods accounted for about 55% of U.S GNP.
"1. Describe the important benefits enjoyed by Indian companies through TRIPs. Elaborate the main objectives of WTO in global economy. 2. "Leontiff paradox is proved in th
Assume that Deborah Electronics expects a delivery of Fujitsu laptops in a month from a Japanese supplier. Each laptop sells at $1000 in a retail market whereas the import cost is
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