Autarky correct answers a policy that seeks self-sufficiency and isolation from the global economy
Globalization correct answers *processes by which people in one society become closer to peoples in geographically distant societies
Political Economy correct answers the causes and effects o...
Autarky correct answers a policy that seeks self-sufficiency and isolation from the
global economy
Globalization correct answers *processes by which people in one society become
closer to peoples in geographically distant societies
Political Economy correct answers the causes and effects of economic and political
decisions
Methodological individualism correct answers focus on the actions and choices of
individuals
Transitivity correct answers quality that defines three or more alternatives as being
comparable and capable of being placed in a hierarchy of preferences
Normative correct answers refers to how we desire the world to work in the ideal
Institutions correct answers formal and informal "rules of the game," laws, and
practices that structure the incentives of individuals
Causality correct answers direct connection between a cause and an effect; a
relationship in which a change in input A brings about a change in outcome B
Decentralized economic systems correct answers those in which consumption,
production, and allocation choices are voluntary, determined by supply and demand,
and coordinated by price mechanisms
Collective good correct answers public commodities that, if available to one member of
a group, must be available to all members of the group
Heckscher-Ohlin model correct answers economic framework that states that
differences in factor endowments across nations produce comparative advantages
Stolper-Samuelson theorem correct answers extension of the Heckscher-Ohlin model
that recognizes that the liberalization of trade will benefit abundant factors of production
in an economy
Tangible attributes correct answers naturally occurring resources or physical assets
that people can employ and manipulate to advance their agendas
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller HopeJewels. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
