1. Distinguish between an absolute advantage and a comparative advantage. Cite an example of a country that has an absolute advantage and one with a comparative advantage. Absolute advantage is when a monopoly exists in a country when it is the only source and product of an item. Meanwhile‚ a comparative advantage is when a country can supply products more efficiently and at a lower cost than it can produce other items. South Africa has an absolute advantage because of its diamonds. The United States
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Puerto Rican/American don’t know wither to identify myself has Hispanic or Latino. Why? Because I was born on US Soil even if being born in Puerto Rico itself‚ you’re considered a US Citizen. What I catch myself doing is asking myself “How do I know which term to use”? Especially when it comes out to filling out any documentation. I have to check off Hispanic on any documentation that is asking to my ethicality‚ only option there is are: White‚ Black‚ Asian‚ Native American and Hispanic. So the only
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Federal Courts and Civil Liberties Federal Courts 1. Describe the federal court system (i.e.‚ all the in-class notes under that section). The supreme court Only one supreme court – created by the constitution Appellate courts – rule on matters of law Bench trials Circuit court of Appeals 13 circuit courts – created by congress Appellate courts – rule on matters of law Bench trials Contains 3 judges – need 2/3 judges District Courts 94 district courts – created by congress (every state
Free Supreme Court of the United States United States Constitution President of the United States
Chapter 2: Date of Macroeconomics 1. What components of GDP (if any) would each of the following transactions affect? What will happen to GDP? Explain. a. A family buys a new refrigerator. Answer: Consumption increases because a refrigerator is a good purchased by a household. GDP increases. b. Aunt Jane buys a new house. Answer: Investment increases because a house is an investment good. GDP increases. c. Ford sells a Mustang from its inventory. Answer: Consumption
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Introduction: With the interest rates having been cut four times since December 2009‚ by 350 basis points‚ the South African Reserve Bank (SARB) declared that the domestic economy is slowing. Two consecutive quarters of negative growth is evidence that an economy is in recession. The contraction in growth is believed to have been caused by a slump in export demand‚ forcing both manufacturers and miners to cut production. The SARB’s monetary policy committee is in meeting to discuss further rate
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Devin Smith Professor Heater English 7‚ March 2013 When my family and I came to America‚ it was extremely tough for us. We had to adapt to a new culture and a new country. It felt like we were starting over. The poem “Puerto Rican Obituary” by Pedro Pietri was a good way of showing some of the difficulties immigrants face when coming to the United States or any new country. I migrated to this country with my family when I was about 5 years old. We had to stay at my father’s friend’s house
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El Cambio Social en Puerto Rico y el Modelo de Autogestión Comunitaria Introducción Este escrito tiene como objetivo central describir y analizar la autogestión comunitaria según propuesta por la Ley 1 del 1 de marzo de 2001. Esta ley permite la creación de la Oficina de Comunidades Especiales‚ cuyo fin primordial fue erradicar la pobreza en Puerto Rico‚ mediante la implantación de un modelo social que incorporara la capacidad y voluntad de trabajo de las comunidades en la solución
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Fundamentals of Macroeconomics Paper ECO/372 Fundamentals of Macroeconomics Paper Part 1 * Gross Domestic Product (GDP)- is the market value of all goods and services within a country in a period of time (Hindsight). * Real GDP- account for changes in the price level‚ an adjusted measure compared to Nominal GDP. * Nominal GDP- When a GDP figures that has not been adjusted for inflation. * Unemployment Rate- The rate is measure of unemployment citizens by dividing the number
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Macroeconomic Forecast Outline Macroeconomics is‚ "the part of economics concerned with the economy as a whole; with such major aggregates as the household‚ business‚ and government sectors; and with measures of the total economy" (McConnell & Brue‚ p.13). "Two of the most critical questions in macroeconomics are: (1) What determines the level of GDP‚ given a nation ’s production capacity? (2) What causes real GDP to rise in one period and to fall in another?" (McConnell & Brue‚ p.72). So
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Lesson 4 1. If an economy produces final output worth $5 trillion‚ then the amount of gross income generated by that production: is $5 trillion 2. Which of the following would not be ian expenditure on a final good or service? a medical clinic’s purchase of flu vaccine 3. Which of the following would be included in GDP? payment of the monthly telephone bill by Mr. Laconic 4. Consumption in the expenditures approach to calculating GDP includes: purchases of medical services at the local clinic
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