Monday: Define - 1. tariff 2. subsidy 3. embargo
Product USA France Wheat 14 10 Cheese 12 10 4. Which country has the absolute advantage in each product? 5. Which country has the comparative advantage in each product? Wednesday: What do the following stand for? 1. WTO 2. IMF 3. UN 4. IO 5. What are the two main purposes of IOs? Friday: None - test
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Tuesday: Quick guess - what are the following?
1. Opportunity Cost 2. Absolute Advantage 3. Comparative Advantage 4. Bilateral Trade Agreement Thursday: Suppose that Austria and Belgium have the unit labor requirements for producing steel and booms shown in the table below - 1. Who has a comparative advantage in brooms? 2. Who has a comparative advantage in steel? 3. Who has an absolute advantage in steel? 4. According to the theory of comparative advantage, countries gain from specialization. Explain. Monday: 1. What is foreign policy?
2. What are the three aspects of foreign policy? 3. Define: embassy, alliance, diplomat, domestic policy, ambassador Wednesday: What were the following? 1. Monroe Doctrine 2. Dollar Diplomacy 3. Containment 4. Imperialism 5. What do they tell us about US foreign policy at the time? Friday: Meet with your group to prepare your recommendations for the President. |