Ecn 361 topic 1 - Study guides, Class notes & Summaries

ECN 361 Topic 1 DQ 2

Topic 1 DQ 1: If the United States could produce five televisions per hour of labor and China could produce three televisions per hour of labor, would it necessarily follow that the United States should specialize in television production? Why or why not?

Topic 1 DQ 2: Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns, absolute advantage or comparative advantage? Why?

1. Question: While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulations come at the cost of reducing the incomes of the regulated firms' owners, workers, and customers. This statement illustrates the principle that 2. Question: Which of the following is an example of a normative, as opposed a to positive, statement? 3. Question: Refer to Table 2-2 .What is the opportunity cost to Footville of increasing the production of ...

ECN 361 Topic 8 DQ 1 Participation & Responses

ECN 361 Topic 7 DQ 1 Participation & Responses

ECN 361 Topic 8 DQ 1 Participation & Responses

ECN 361 Topic 7 DQ 1 Participation & Responses

ECN 361 Topic 3 DQ 1 Participation & Responses

ECN 361 Topic 3 DQ 1 Participation & Responses