labor theory of value V. Trade Based on Comparative Advantage A. Comparative Advantage Table 2.3 David Ricardo Babe Ruth B. The Gains from Specialization and Trade with Comparative Advantage PASSPORT: Principal Exports of Selected Countries — Table 2.4 Change in world output — Table 2.5 VI. Trade Based on Opportunity Costs A. Opportunity Costs PASSPORT: Labor Costs as a Source of Comparative Advantage — Table 2.6 B. The Gains from Specialization and Trade with Opportunity Costs
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1- Why was the country so divided by Reconstruction? Several incidents were in action at the time of the reconstruction. The initial plan‚ lead by the President Lincoln ensisted that each state would have to change their constitution in order to enter once again into the union. Also‚ ten percent of able voters from each state had to pledge allegiance to the union. Reactions from this movement to once again have the states unionized was frowned upon by the Republicans‚ who thought it was too weak
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Which country would you rather be ill in and why? Health systems have played a part in the dramatic rise in life expectancy that occurred during the 20th century. They have contributed enormously to better health and influenced the lives and well-being of billions of people around the world. Their role has become increasingly important. The National Health Service was set up in the 1940s‚ post-war Britain‚ based on the principle of universal healthcare free at the point of use‚ financed entirely
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Australia is a lucky country Introduction “Australia is a lucky country‚ run by second-rate people who share its luck”. Donald Horne wrote this quote in 1964. To understand this quote‚ we first have to understand‚ who is Donald Horne? Donald Horne’s full name is ‘Donald Richmond Horne’‚ or for that matter‚ Professor Donald Richmond Horne. He was born on the 26th of December 1921‚ and deceased on the 8th of September 2008. He was an Australian journalist‚ to say the least. He was also a writer‚ social
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By Tan Kabra April 29th‚ 2009 Why Countries Go To War There are many reasons why countries go to war. One country may want to go to war to take revenge on something that another country or countries did to them. Germany‚ for example‚ wanted to take revenge on the rest of the European nations after they all unanimously agreed that the responsibility for the First World War should be laid upon Germany. Countries also go to war for another reason‚ territorial expansion. The
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Actually in our country‚ past is very important because this country
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the Rise of the West. Bob Allen Professor of Economic History Oxford University Graham Lecture‚ 2008 Why are some countries rich and others poor? Since 1500‚ incomes have risen in most of the world‚ however: • Incomes have risen fastest in the countries that were richer in 1500 • Consequently‚ world inequality is much greater today than in 1500 • In 1500‚ average income in the UK was only 30% higher than in India • Today‚ the average UK income is ten times that in India. The graph shows
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POOR COUNTRIES ARE POOR BECAUSE THEY ARE POOR Poor countries are poor not because they are poor but because they lack the essential resources which are significant for economic growth and development. The African continent is considered as the poorest continent in the world. This is due to political instability which tends to scare away investors thus stunting economic growth of a country. Some of the reasons as to which developing countries are poor are; corrupt governments‚ low illiteracy levels
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of being the best country to live in by millions of people around the globe. Australia is known for many attractions but is considered by most being welcoming to every culture‚ immigrants or refugees‚ no matter what beliefs or religions they practise. It is a free country‚ everyone has rights‚ and are given free formal education for thirteen years. These matters are all supported by strict laws passed through government. Australia has the best education of any other country‚ with over 1‚200 institutes
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South Korea is a country that proves to be unstoppable‚ during the development of the nation for many years‚ South Korea still became targets of corruption and war. Historic wars such as the Korean war and the Japanese war proved that South Korea is still strong during the times when they were overrun. However‚ South Korea has gained their independence and has proven to be a powerful country alone‚ with a strong economy‚ good trading partners with other countries and most importantly hold a lot of
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