David ricardo Guías de estudio, Notas de estudios & Resúmenes

Economics - Unit 1 Economics Fundamentals 100% Pass economics 1. the study of how individuals and nations make choices about ways to use scarce resources to fulfill their needs and wants 2. Social science that deals with the study of the production, consumption, distribution of goods and services and the transfer of wealth to obtain those goods and services. scarcity a situation in which unlimited wants exceed the limited resources available to fulfill those wants trade-offs giving up one thi...

Free trade Correct Answer a situation in which a government does not attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country Comparative advantage Correct Answer the intellectual basis of modern argument for unrestricted free trade David Ricardo Correct Answer comparative advantage Heckscher-Ohlin Theory Correct Answer The theory that a country will export goods that make intensive use of the facto...

(Revolutions, Reform, Romanticism) Which of the following was most central to the development of the early Industrial Revolution? - ANSWER-The shift from human and animal power to mechanical power. (Revolutions, Reform, Romanticism) The first modern factories arose in the... - ANSWER-Textile industry. (Revolutions, Reform, Romanticism) What was NOT a consequence of revolutionary changes in the textile industry? - ANSWER-A reduction in child labor. (Revolutions, Reform, Romanticism) What...

International Economics Exam 1 With Complete Solutions.

FDI has accelerated faster than world trade growth. - Answer-Which of the following statements is true about the growth of foreign direct investment in the world economy over the last few decades? It's wealthy domestic markets - Answer-Which of the following factors has made the United States an attractive target for foreign direct investment? total accumulated value of foreign owned assets at a given time - Answer-The stock of FDI is the: Raw material availability - Answer-Which of th...

Deadweight Cost Net losses that occurs in an economy as a result of tariffs Purchasing Power Parity (PPP) A conversion that determines the equivalent amount of goods and services different currencies can purchase. An adjustment to reflect the differences in the cost of living in various countries Triad North America, Western Europe, and Japan Resource Based View An organization's resources and capabilities, NOT external conditions, should be the basis for strategic deci...

AGB 302 EXAM ASU 100% SOLUTION ethics - ANSWER the principles of right and wrong that guide an individual in making decisions ethical strategy - ANSWER a course of action that does not violate a company's business ethics Friedman Doctrine - ANSWER the only social responsibility of business is to increase profits, so long as the company stays within the rules of law Culturual Relativism - ANSWER belief that cultures should be judged by their own standards Utilitarian Approach - ANS...

Trade is _____ a zero sum game - not Is trade voluntary? - yes What is the direct effect exports and imports have on nationl economies? - Direct effect: affects the GDP exports directly add to the GDP imports directly reduce GDP GDP Formula - Y = C + I + G + NX NX = Exports - Imports Y = GDP C = Consumption I = Investment G = Government purchases What is the indirect effect exports and imports have on nationl economies? - the Multiplier Effect- an increase in expo...

List of Boxes Applying Economic Concepts 1-1 The High Opportunity Cost of Your University Degree 7 1-2 Economics Needs the Other Social Sciences 21 2-1 Where Economists Work 30 2-2 Can Economists Design Controlled Experiments to Test Their Theories? 34 3-1 Demand and Supply Shocks Created by the COVID-19 Pandemic 64 3-2 Why Apples but Not iPhones? 72 4-1 Who Really ―Pays‖ for Payroll Taxes? 93 5-1 Minimum Wages and Unemployment 105 5-2 The Debate Over ―Price Gouging‖: Efficienc...

AGB 302 EXAM ASU 100% SOLUTION ethics - ANSWER the principles of right and wrong that guide an individual in making decisions ethical strategy - ANSWER a course of action that does not violate a company's business ethics Friedman Doctrine - ANSWER the only social responsibility of business is to increase profits, so long as the company stays within the rules of law Culturual Relativism - ANSWER belief that cultures should be judged by their own standards Utilitarian Approach - ANS...