Specialization and trade Study guides, Class notes & Summaries
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![GVPT 282 Midterm Latest 2023](/docpics/3716151/653d40af04ea5_3716151_121_171.jpeg)
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GVPT 282 Midterm Latest 2023
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GVPT 282 Midterm Latest 2023 Asian Infrastructure Investment Bank (AIIB) The AIIB is a financial institution focused on multilateral development in the Asia-Pacific region. This bank, with its 17-founding member and other joiners, competes with the IFIs established under the Bretton Woods System, mainly the World Bank and IMF. As a result, it threatens U.S.'s power to advance its foreign policy through conditionality for loans. Instead, IFIs may not compete, and this competition allows developi...
![WGU D080 Exam – Questions & 100% Correct Answers](/docpics/2953783/649601c5b3571_2953783_121_171.jpeg)
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WGU D080 Exam – Questions & 100% Correct Answers
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WGU D080 Exam – Questions & 100% Correct Answers 
WGU D080 Exam – Questions & 100% Correct Answers 
 
What is globalization? - ANSWER - When international integration arises from the interchange of world views, products, ideas, and other aspects of cultures. 
 
different types of Globalization - ANSWER - 1. Economic 
2. Political 
3. Cultural 
 
Advantages of Economic globalization - ANSWER - more trade, investments, information technology, faster economic development, and increased social...
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WGU D080 study for OA With Complete Solutions ACTUAL EXAM Q&A Graded A+ Latest Update 2023
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WGU D080 
study for OA With 
Complete Solutions ACTUAL EXAM Q&A 
Graded A+ Latest Update 
 
 
 
 
 
WGU D080 study for OA With Complete Solutions 
 
What is globalization? - Answer as international integration arising from the exchange of world views, products, ideas, and other aspects of culture. 
 
What is Culture Globalization? - Answer refers to the transmission of ideas, meanings, and values around the world in such a way that extends and intensifies social relations. 
 
What is Politic...
![AGB 302 QUIZ 3 LATEST UPDATE GRADED A](/docpics/3284954/64e343cc42058_3284954_121_171.jpeg)
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AGB 302 QUIZ 3 LATEST UPDATE GRADED A
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AGB 302 QUIZ 3 LATEST UPDATE GRADED A Free Trade refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country 
New trade theory Stresses that in some cases countries specialize in the production and export of particular products because the world market can support only a limited number of firms 
Mercantilism supports the idea that countries should export more than what they import 
adam smith argued that countries...
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Principles of Macroeconomics by John Sayre - Test Bank
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Chapter 01 
The Economic Problem 
 
 
 Multiple Choice Questions 
1. What do economists mean when they say that the economy faces scarcity? A. There are fewer resources available than there were in the 1960s. B. It is quite evident that the world is running out of resources. C. The economy is producing far below its capacity to produce. D. The resources available are not sufficient to produce all that everyone wants. 
 
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![Test Bank for Economics 4th Edition by Paul Krugman](/docpics/63be5a02be4ea_2243508.jpg)
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Test Bank for Economics 4th Edition by Paul Krugman
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Test Bank for Economics 4th Edition by Paul Krugman 
 
 
1.	A simplified representation that is used to study a real situation is called a(n): 
A)	model. 
B)	production possibility frontier. 
C)	assumption. 
D)	trade-off. 
 
 
2.	The models that economists construct: 
A)	usually make simplifying assumptions. 
B)	often rely on physical constructs, such as those used by architects. 
C)	rarely use mathematical equations or graphs. 
D)	attempt to replicate the real world. 
 
 
3.	When building a mod...
![Test Bank For Economics Principles Policy 14th Edition by William Baumol](/docpics/4037975/657df31899403_4037975_121_171.jpeg)
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Test Bank For Economics Principles Policy 14th Edition by William Baumol
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Test Bank For Economics Principles Policy 14th Edition by William Baumol 
True / False 
1. Both parties gain in a voluntary exchange. 
a. True 
b. False 
ANSWER: True 
POINTS: 1 
DIFFICULTY: Easy 
LEARNING OBJECTIVES: DISC: Scarcity, tradeoffs, and o - DISC: Scarcity, tradeoffs, and opportunity 
cost 
NATIONAL STANDARDS: United States - BPROG: Analytic 
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of 
economics 
TOPICS: DISC: Gains from tra...
![Wgu C211 Global Economics Study Guide](/docpics/6383656f45223_2137370.jpg)
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Wgu C211 Global Economics Study Guide
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Chapter 1 ("Globalizing Business") 
Competency 3012.1.1: Business Decision Making in the Global Environment 
The graduate analyzes economic forces and operations of global markets in order to improve decision making. 
Global business refers to business that is conducted around the world. It is important to study global business in 
order to understand what determines the success and failure of businesses around the globe. Two core perspectives 
on global business are the institution-based pers...
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BCOR 1015 Final Questions and Answers Graded A
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BCOR 1015 Final Questions and Answers Graded A What are Hayeks views on planning and decision making? he believes in decentralized knowledge 
HAYEK: what is decentralized knowledge? spreading knowledge amongst people 
is Hayek against centralization? yes 
HAYEK: how does the price system coordinate resources? price signals are used to make decisions and send information to other groups because prices are lower or higher 
what are price signals? signals wrapped up in incentives; prices can consta...
![TAMU ECON 203 Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A+](/docpics/5502300/665a903261367_5502300_121_171.jpeg)
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TAMU ECON 203 Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A+
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TAMU ECON 203 Exam (Latest 2024/ 2025 Update) Questions and 
Verified Answers| 100% Correct| Grade A+ 
What are 3 gains from society when countries decide to specialize? -specialization and 
trade -more resources 
-Improvements in technology/productivity 
True or False: Every country have comparative advantage in something. True 
What are 2 gains when two countries engage in specialization and trade? -total production 
increases 
-new points reached on the PPF that were originally unattainable 
...
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