Ch16
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This document summarizes key concepts related to international trade, comparative advantage, and protectionism. It discusses how trade surpluses and deficits are measured, the economic basis for trade through comparative advantage as described by Ricardo, how absolute and comparative advantages differ, how mutual gains can arise from specialization and trade, and factors that determine exchange rates and patterns of trade. It also outlines various trade barriers like tariffs and quotas, and discusses economic integration through trade agreements and blocks.
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991130樂活週記在台東(s)
歡迎與更多朋友分享樂活週記在台東
更多訊息
請連結以下網站
----------------------------------------------------------
台東縣利嘉林道發展協會
http://www.treehome.org.tw
太平生態農場
http://www.uhome.org.tw/tai-ping
這一晚在部落閱讀空間遇見你
http://www.slideshare.net/ssuser0a0af6/991120
-----------------------------------------------------------
991120這一晚在部落閱讀空間遇見你(s)
感恩長久以來的支持
不論您身在何方
這份關心一直是驅使我們向前邁進的最大動力
2006年11月開辦至今的部落閱讀空間轉眼已經滿4年了
⋯⋯沒有政府部門的資源挹注
僅靠著全台各地熱心人士的資助
我們在泰安部落已經紮根4年
期間或有風雨
雲淡天青後
總讓我們堅定地看到孩子安和成長的憧憬
儘管4年當中不知已輪換了多少學生
多年以後當他們因為孤獨而想起時
總有一股暖流還能夠在現實的環境中撫慰受創的身心
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也已被看出些許的改變
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但每個曾經幫忙溫習功課的身影
或許早已烙印在每個稚嫩心靈的深處
感恩您
附上部落閱讀空間近況簡介
與各位共享這份酸甜苦辣
也請持續護持這份為孩子們的心意
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991130樂活週記在台東(s)
歡迎與更多朋友分享樂活週記在台東
更多訊息
請連結以下網站
----------------------------------------------------------
台東縣利嘉林道發展協會
http://www.treehome.org.tw
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這一晚在部落閱讀空間遇見你
http://www.slideshare.net/ssuser0a0af6/991120
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991120這一晚在部落閱讀空間遇見你(s)
感恩長久以來的支持
不論您身在何方
這份關心一直是驅使我們向前邁進的最大動力
2006年11月開辦至今的部落閱讀空間轉眼已經滿4年了
⋯⋯沒有政府部門的資源挹注
僅靠著全台各地熱心人士的資助
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期間或有風雨
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總讓我們堅定地看到孩子安和成長的憧憬
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朝向正直的道路而去
感謝一路相伴的朋友
因為相信我卑微的力量
願意幫助我們
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很多身影我已不復記得
但每個曾經幫忙溫習功課的身影
或許早已烙印在每個稚嫩心靈的深處
感恩您
附上部落閱讀空間近況簡介
與各位共享這份酸甜苦辣
也請持續護持這份為孩子們的心意
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這一晚在部落閱讀空間遇見你991120
感恩長久以來的支持
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這份關心一直是驅使我們向前邁進的最大動力
2006年11月開辦至今的部落閱讀空間轉眼已經滿4年了
⋯⋯沒有政府部門的資源挹注
僅靠著全台各地熱心人士的資助
我們在泰安部落已經紮根4年
期間或有風雨
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多年以後當他們因為孤獨而想起時
總有一股暖流還能夠在現實的環境中撫慰受創的身心
因著真心陪伴的孩子們
也已被看出些許的改變
朝向正直的道路而去
感謝一路相伴的朋友
因為相信我卑微的力量
願意幫助我們
這是一段漫漫長路
很多身影我已不復記得
但每個曾經幫忙溫習功課的身影
或許早已烙印在每個稚嫩心靈的深處
感恩您
附上部落閱讀空間近況簡介
與各位共享這份酸甜苦辣
也請持續護持這份為孩子們的心意
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樂活週記在台東
歡迎語更多朋友分享樂活週記在台東
更多訊息
請連結以下網站
----------------------------------------------------------
台東縣利嘉林道發展協會
http://www.treehome.org.tw
太平生態農場
http://www.uhome.org.tw/tai-ping
這一晚在部落閱讀空間遇見你
http://www.slideshare.net/ssuser0a0af6/991120
工作假期-我的樂活週記
http://www.slideshare.net/ssuser0a0af6/vs991122
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Adam Smith first proposed that absolute advantage in production provides the basis for mutually beneficial trade. David Ricardo later refined this to show that comparative advantage, not absolute advantage, is the key - a country should specialize in what it can produce relatively more efficiently. Empirical studies have supported Ricardo's theory, finding nations export more of goods where they have lower relative production costs. While useful, Ricardo's model does not fully explain differences in productivity or trade's impact on factor incomes.
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This document provides an overview of key concepts in international trade including:
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- Arguments for free trade and reasons countries engage in protectionism such as tariffs or quotas.
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- Adam Smith criticized mercantilism and argued that free trade allowing specialization according to absolute advantage would benefit all nations through increased global production. Absolute advantage refers to the ability to produce a good using fewer resources.
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The document discusses international trade theory, including absolute advantage theory proposed by Adam Smith and comparative advantage theory proposed by David Ricardo. According to absolute advantage theory, a country should specialize in producing goods it can produce more efficiently than other countries. Comparative advantage theory states that countries can benefit from specializing in goods they can produce at a lower opportunity cost, even if not absolutely the best. Examples are provided showing how both countries can increase total production by specializing according to their comparative advantages and trading surplus goods.
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Etp econ lecture note 3
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The document discusses gains from trade using the example of a potato farmer and cattle rancher. It finds that while the farmer has an absolute advantage in potato production and the rancher in meat production, the farmer has a comparative advantage in potatoes due to lower opportunity costs. Specialization and trade allows both to expand their consumption possibilities by producing what they have a comparative advantage in and trading. Without trade, both would consume less of both goods.International Economics Lecture 4
Mercantilism was the dominant school of economic thought between 1500-1750 in Europe. Key aspects of Mercantilism included believing that national wealth was equivalent to a country's holdings of precious metals like gold and silver. Mercantilist countries pursued policies aimed at accumulating these metals, such as trade surpluses, and viewed international trade as a zero-sum game where one country's gain required another's loss. Mercantilism was later criticized by Adam Smith and David Ricardo who argued that comparative advantage allowed for mutually beneficial trade.
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這一晚在部落閱讀空間遇見你991120
感恩長久以來的支持
不論您身在何方
這份關心一直是驅使我們向前邁進的最大動力
2006年11月開辦至今的部落閱讀空間轉眼已經滿4年了
⋯⋯沒有政府部門的資源挹注
僅靠著全台各地熱心人士的資助
我們在泰安部落已經紮根4年
期間或有風雨
雲淡天青後
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儘管4年當中不知已輪換了多少學生
多年以後當他們因為孤獨而想起時
總有一股暖流還能夠在現實的環境中撫慰受創的身心
因著真心陪伴的孩子們
也已被看出些許的改變
朝向正直的道路而去
感謝一路相伴的朋友
因為相信我卑微的力量
願意幫助我們
這是一段漫漫長路
很多身影我已不復記得
但每個曾經幫忙溫習功課的身影
或許早已烙印在每個稚嫩心靈的深處
感恩您
附上部落閱讀空間近況簡介
與各位共享這份酸甜苦辣
也請持續護持這份為孩子們的心意
Ipe newsletter vol1 issue 2
This newsletter summarizes events that occurred at the Institute of Public Enterprise (IPE) in September 2010. It provides an overview of Samathi 2010, an annual 10-day event organized by IPE students to help freshers learn various aspects of management. Industry leaders were invited to interact with students and provide insights into different business domains over the course of the event. The newsletter also shares positive feedback from industry representatives who have recruited IPE graduates and are impressed with their capabilities. It aims to highlight the quality of education and talent produced by IPE.
樂活週記在台東
歡迎語更多朋友分享樂活週記在台東
更多訊息
請連結以下網站
----------------------------------------------------------
台東縣利嘉林道發展協會
http://www.treehome.org.tw
太平生態農場
http://www.uhome.org.tw/tai-ping
這一晚在部落閱讀空間遇見你
http://www.slideshare.net/ssuser0a0af6/991120
工作假期-我的樂活週記
http://www.slideshare.net/ssuser0a0af6/vs991122
-----------------------------------------------------------
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Adam Smith first proposed that absolute advantage in production provides the basis for mutually beneficial trade. David Ricardo later refined this to show that comparative advantage, not absolute advantage, is the key - a country should specialize in what it can produce relatively more efficiently. Empirical studies have supported Ricardo's theory, finding nations export more of goods where they have lower relative production costs. While useful, Ricardo's model does not fully explain differences in productivity or trade's impact on factor incomes.
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- Today's lecture slides can be found online at the provided link.
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This document provides an overview of key concepts in international trade including:
- The principles of absolute and comparative advantage which form the basis for beneficial trade between countries.
- Arguments for free trade and reasons countries engage in protectionism such as tariffs or quotas.
- Different levels of economic integration like free trade areas or customs unions.
- How terms of trade measure the exchange rate between a country's exports and imports.
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- Mercantilism was an economic theory dominant in Europe from the 16th to 18th centuries that promoted governmental regulation of the economy to increase state power and accumulate monetary reserves through positive trade balances. It led to war and colonial expansion.
- Adam Smith criticized mercantilism and argued that free trade allowing specialization according to absolute advantage would benefit all nations through increased global production. Absolute advantage refers to the ability to produce a good using fewer resources.
- Comparative advantage built on this and holds that nations should specialize and trade based on lower opportunity costs rather than absolute efficiency differences. Ricardo showed how this allows all parties to gain through trade even if one nation has an absolute advantage in all goods.
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This document summarizes David Ricardo's theory of economics development known as Ricardian theory. It discusses Ricardo's background and key contributions, including the law of comparative advantage. It then outlines the assumptions of Ricardian theory, including diminishing returns to land and inelastic demand for corn. Ricardo's theory explains how total output is distributed as rent, profits, and wages. It also discusses how capital accumulation, wages, international trade, and criticisms of the theory relate to Ricardian economics.
05 absolute and-comparative-advantage-1
The document discusses concepts related to international trade including specialization, absolute advantage, and comparative advantage. It provides examples to illustrate key theories such as how specialization allows countries to increase total output through division of labor. Absolute advantage refers to a country being able to produce more of a good using the same resources. Comparative advantage depends on opportunity costs and is measured based on what a country must give up to produce more of a good. Trade can benefit countries even if one has an absolute advantage in all goods by allowing specialization based on comparative advantage.
Unit 2 foreign trade topic 2 3 4 5
This document discusses international trade and balance of payments. It provides arguments for and against trade liberalization. Supporters argue that trade increases specialization and economies of scale, bringing innovation and competition. Studies show countries that liberalized trade grew faster. However, critics argue that trade can displace domestic workers and increase inequality. The document also examines the Ricardian model of comparative advantage and its limitations in making unrealistic predictions. It defines key concepts like terms of trade, protectionism, and balance of payments accounting.
International Economics Lecture_4
The document discusses several key concepts from mercantilism, including:
1) Mercantilists viewed national wealth as a country's holdings of precious metals like gold and silver. They believed countries should pursue policies to accumulate these metals.
2) Mercantilists saw international trade as a zero-sum game where one country's gains came at the expense of others. They promoted protectionism and controlling trade balances.
3) Adam Smith later criticized mercantilism and argued that a nation's wealth comes from the goods and services available, not precious metals. He introduced the theories of absolute and comparative advantage.
Similar to Ch16 (20)
Law of Comparative Advantage by Dominick Salvatore
Law of Comparative Advantage by Dominick Salvatore
Advantage and disadvantage of free trade and theorys of International trade law
Advantage and disadvantage of free trade and theorys of International trade law
davidricardo-12111802ccgjgffjfjffjfjfjcg3222-phpapp01.pdf
davidricardo-12111802ccgjgffjfjffjfjfjcg3222-phpapp01.pdf
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Ch15
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Ch14
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Ch12
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Ch11
1. The document discusses the concepts of general equilibrium, partial equilibrium, and perfect competition from an economics textbook.
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Ch09
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Ch08
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Ch07
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Ch08
1) The document discusses concepts related to costs, profits, and output decisions for firms in the long-run and short-run. It provides an example of costs and profits for a car wash business.
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Ch05
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Ch05
This document summarizes key concepts from Chapter 5 of the textbook "Principles of Economics, 6th edition" by Karl Case and Ray Fair. It discusses household behavior and consumer choice. Specifically, it covers how households make decisions about demand for goods, labor supply, and savings. It introduces the concepts of budget constraints, opportunity costs, utility, and the utility-maximizing rule for consumers to allocate expenditures between goods in a way that equalizes marginal utility per dollar spent. Diminishing marginal utility and its impact on total utility is also summarized.
Ch04
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Ch03
This document provides an overview of demand, supply, and market equilibrium. It defines key concepts such as firms, households, demand curves, supply curves, and how equilibrium price and quantity are determined in markets. The document also explains how demand and supply can shift due to changes in their determinants, such as income, input prices, and preferences. It distinguishes between movements along the curves due to price changes versus shifts of the curves from non-price factors.
Ch16
- 1. International Trade, Comparative Advantage, and Protectionism
- 3. Trade Surpluses and Deficits EXPORTS MINUS IMPORTS U.S. Balance of Trade (Exports Minus Imports), 1929 – 1999 (Billions of Dollars) – 254.0 1999 – 51.7 1983 – 151.5 1998 – 20.5 1982 – 89.3 1997 – 15.0 1981 – 89.0 1996 – 14.9 1980 – 84.3 1995 – 24.0 1979 – 87.1 1994 – 26.1 1978 – 60.5 1993 – 23.7 1977 – 27.9 1992 – 2.3 1976 – 20.7 1991 + 13.6 1975 – 71.4 1990 + 1.2 1970 – 80.7 1989 + 3.9 1965 – 106.3 1988 + 2.4 1960 – 142.3 1987 + 0.4 1955 – 131.9 1986 – 0.9 1945 – 114.2 1985 + 0.1 1933 – 102.0 1984 + 0.4 1929 EXPORTS MINUS IMPORTS
- 13. Gains from Comparative Advantage
- 23. Exchange Rates United States imports timber and steel .25 $1 = 4 R United States imports steel .33 $1 = 3 R Brazil imports timber; United States imports steel .34 $1 = 2.9 R Brazil imports timber; United States imports steel .48 $1 = 2.1 R Brazil imports timber .50 $1 = 2 R Brazil imports timber and steel $1.00 $1 = 1 R RESULT PRICE OF REAL EXCHANGE RATE Trade Flows Determined by Exchange Rates
Editor's Notes
- There are 100 acres of land. Australia can dedicate all of its land to produce cotton, in which case it produces 600 bales (or 6 bushels per acre). On the other hand, if Australia dedicates all of its land to produce wheat, it produces 200 bushels (or 2 bushels per acre).
- Edward Leamer of UCLA has concluded that a short list of factors accounts for a large portion of world trade patterns. Natural resources, knowledge capital, physical capital, land, and skilled and unskilled labor.
- Because evidence suggests that economies of scale are exhausted at relatively small size in most industries, it seems unlikely that they constitute a valid explanation of world trade patterns.
- The average tariff on imports into the United States is about 5 percent. A U.S. firm attempting to monopolize a domestic market violates the Sherman Antitrust Act of 1890, prohibiting predatory pricing. The Comprehensive Trade Act of 1988 contains clauses that permit the president to impose trade sanctions when investigations reveal dumping by foreign companies or countries.
- The most recent round of world trade talks sponsored by GATT, the “Uruguay Round,” began in Uruguay in 1986. The “final Act” of the Uruguay Round of negotiations is the most comprehensive and complex multilateral trade agreement in history.
- NAFTA was ratified by the U.S. Congress in late 1993 and went into effect on the first day of 1994.
- We can ban imports and give up the gains from free trade, acknowledging that we are willing to pay premium prices to save domestic jobs in industries that can produce more efficiently abroad. Or we can retrain workers for jobs with a future, or adopt programs to relocate people in expanding regions. An infant industry is a young industry that may need temporary protection from competition from the established industries of other countries in order to develop an acquired comparative advantage.