1. The document describes the Ricardian model of international trade, which illustrates how countries can benefit from trade even when one country is less productive than the other in all goods.
2. It introduces the concepts of absolute advantage, comparative advantage, opportunity cost, and production possibility frontier to explain why countries should specialize in producing goods where they have a comparative rather than absolute advantage.
3. The model shows that when countries specialize according to their comparative advantages and trade, both countries can consume beyond their production possibilities frontiers, gaining from specialization and trade.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
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how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
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how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
2. Objectives
1. Describe the Ricardian model, the most basic model of international
trade with its assumptions
2. Illustrate and interpret a diagram representation and a table
representation of Ricardian model
3. Explain the concept of absolute advantage and the concept of
comparative advantage
3. Introduction
Two basic reasons of why trade occurs:
– Differences across countries in labor, labor skills, physical capital, natural
resources, and technology
– Economies of scale (larger scale of production is more efficient)
This course develops and presents tools and models to help us
understand how differences between countries give rise to trade
between them and why this trade is mutually beneficial.
4. International Economic Models
For simplicity, most tools and models are presented in a simplest form
of two countries, two goods, and two (or one) factors and looks at one
specific difference between two countries at time.
– Productivity
– Factor endowment
– Factor mobility
We start with the simplest model called “Ricardian model” and later
extends the model to examine effects of these differences among
countries to lead trade among them.
5. Purposes of International Economic Models
With tools and models, we examine and measure the five aspects of
trade in economy:
– Pattern of trade (Who trades what)
– Volume of trade (How much to trade)
– Gains from trade (Reasons for trade)
– Income distribution effect of trade (Why some oppose to trade)
– Short-run and long-run effects of trade
Although models are extended, we will examine the same five aspects
of trade in the same way as the Ricardian model.
6. Mercantilists’ View on Trade
Mercantilism: Belief in the 16th to 18th century Europe that wealth of
country is measure by the stock of precious metals it possesses.
• More gold and silver enable a ruler to maintain stronger army and navy.
• A trade surplus leads to inflow of gold and silver.
• The government restricts imports and stimulate exports.
Neo-mercantilism: the government restricts imports to protect
domestic firms and employment.
7. Classical Economists’ View on Trade
• David Hume: Argued against British trade policy based on
Mercantilism in the 18th century
• Adam Smith: Advocate free trade which increases wealth (GDP) of
nations in 1776
• David Ricardo: Extend Adam Smith’s argument for free trade by
introducing the concept of comparative advantage and illustrating
gains from trade in the early 19th century
– Ricardian Model
8. A One-Factor Ricardian Model
Assumptions on the Ricardian model:
1. Two countries: home and foreign
2. Two goods: wine and cheese
3. One factor of production: Labor is the only factor of production.
4. Labor productivity varies across countries due to differences in technology, but
labor productivity across industries is constant in each country.
5. The supply of labor in each country is constant.
6. Competition allows workers to be paid a wage equal to the value of what they
produce, and allows them to work in the industry that pays the highest wage.
9. Unit Labor Requirement
• Unit labor requirement: the number of hours of labor required to produce one
unit of a good or service.
• Labor productivity: the amount of a good or service produced by one hour of
labor.
• A high unit labor requirement means low labor productivity.
Labor productivity = 1 / Unit labor requirement
• Example: It takes 2 hours of labor to produce one unit of wine.
– Unit labor requirement = 2 hours of labor
– Labor productivity = ½ unit of wine per hour of labor
10. Absolute Advantage
• Absolute advantage: One country is more productive (efficient) than the other
country in production of a good or service.
• When one country can produce one unit of good with less resource (less unit
labor requirement ) than another country, the first country has an absolute
advantage in producing that good.
• Example: Unit labor requirement to produce one pound of cheese is 1 hour of
labor in Home and 6 hours of labor in Foreign.
– Home has an absolute advantage in production of cheese over Foreign.
– Home has a higher labor productivity to produce cheese (1 unit per labor
hour) than Foreign (1/6 unit per labor hour).
11. Model Setup and Variable Definitions
Two countries: Home and Foreign (*)
Two goods: Cheese (C) and Wine (W)
One factor of production: Labor (L)
Unit labor requirement
– to produce one unit of cheese in Home = aLC
– to produce one unit of wine in Home = aLW
– to produce one unit of cheese in Foreign = aLC
*
– to produce one unit of wine in Foreign = aLW
*
Total labor supply
– Home = L
– Foreign = L*
Production goods
– Quantity of cheese production in Home = Qc
– Quantity of wine production in Home = Qw
– Quantity of cheese production in Foreign = Qc*
– Quantity of wine production in Foreign = Qw*
12. Absolute Advantage in One Factor Model
• If aLC < aLC* , then Home has an absolute advantage in production of cheese.
• If aLW > aLW* , then Foreign has an absolute advantage in production of wine.
• Each country should produce what they are good at (efficient), then the output
of both goods in the world will rise.
• Home specializes to produce cheese and Foreign specializes to produce wine,
then they exchange (trade) products.
13. Limitation of Absolute Advantage
• If ac < ac* and aw < aw* , then Home has an absolute advantage in production of
both goods.
• Should Home produce both goods and export both to Foreign? Will it increase
world output of both goods?
• Productivity by itself (absolute advantage) cannot determine a pattern of trade
or gains from trade.
14. Production Possibility Frontier
• Production Possibility Frontier: The boundary between the combinations of
goods and services that can be produced and the combinations that cannot be
produced, given the available factors of production and the state of technology.
• The country’s labor supply limits the production of two goods:
PPF of Home: aLCQc + aLWQw ≤ L
Maximum quantity of cheese produced = L/aLC
Maximum quantity of wine produced = L/aLW
Slope of PPF = aLC/aLW
15. Production Possibility Frontier - Example
• Unit labor requirement to produce one unit of cheese in Home = 1 hour of labor
• Unit labor requirement to produce one unit of wine in Home = 2 hours of labor
• Total labor supply in Home = 1,000 hours
– PPF of Home: Qc + 2 x Qw ≤ 1,000
– How many units of cheese can Home produce at most?
1,000 units = 1,000 hour / 1 labor hour
– How many units of wince can Home produce at most?
500 units = 1,000 hours / 2 labor hours
– Slope of Home’s PPF
1/2 = 1 labor hour / 2 labor hours
16. Opportunity Cost
• Opportunity cost: the value of the best alternative forgone. The benefits you
could have received by taking an alternative action.
• In case of two goods economy, an opportunity cost of producing one good is the
number of the other good that it sacrifices. It measures a tradeoff between two
goods.
• Example: Labor productivity in Home is 1 unit of cheese per hour and 1/2 unit of
wine per hour of labor.
– One hour of labor can produce either 1 unit of cheese or ½ unit of wine.
– An opportunity cost of producing 1 unit of cheese is ½ unit of wine
forgone.
17. Production Possibility Frontier - Diagram
• Slope of Home PPF = 500/1000 = ½
• Slope of PPF measures an opportunity
cost of producing one unit of a good
measured along the horizontal axis
(cheese) where it is measured in terms of
units of the other good measured along
the vertical axis foregone (wine).
– An opportunity cost of producing one unit
of cheese is ½ unit of wine.
• PPF is a straight line because an
opportunity cost is constant (1/2) that is,
its slope is constant.
18. Opportunity Cost - Formula
• Unit labor requirement to produce one pound of cheese in Home = aLC
• Unit labor requirement to produce one gallon of wine in Home = aLW
• Opportunity cost of one unit of cheese = aLC/aLW units of wine.
• Opportunity cost of one unit of wine = aLW/aLC units of cheese.
– Example: An opportunity cost of producing one unit of cheese is ½ unit of
wine, and an opportunity cost of producing one unit of wine is 2 units of
cheese.
• These costs are constant because the unit labor requirements are both constant.
19. Comparative Advantage
• A country has a comparative advantage in producing a good if the
opportunity cost of producing that good is lower in the country than
in other countries.
• Law of comparative advantage: A country should specialize to
produce the goods on which the country has a comparative
advantage and export them.
20. Comparative Advantage - Formula
• Even if one country is at an absolute disadvantage relative to another country in
the production of every good, it has a comparative advantage in making at least
one good.
– Home country has a comparative advantage in production of cheese
if aLC/aLW < aLC*/aLW*
– Foreign country has a comparative advantage in production of wine
if aLW/aLC > aLW*/aLC*
• In a two-country, two-good model, if one country has a comparative advantage
in one good, then the other country must have a comparative advantage in the
other commodity.
– When aLC/aLW < aLC
*/aLW
*, it must be aLW/aLC > aLW
*/aLC
*.
21. Comparative Advantage - Example
If Unit labor requirement
• to produce one pound of cheese in Home = 1 hour of labor
• to produce one gallon of wine in Home = 2 hours of labor
• to produce one pound of cheese in Foreign = 6 hours of labor
• to produce one gallon of wine in Foreign = 3 hours of labor
Then, an opportunity cost
• to produce one pound of cheese is 1/2 in Home and 6/3 in Foreign.
• to produce one gallon of wine is 2 in Home and 3/6 in Foreign.
So,
• Home country has a comparative advantage in production of cheese (1/2 < 2).
• Foreign country has a comparative advantage in production of wine (2 > 1/2).
22. Relative Price
• Relative price: the price of one good divided by the price of another good
(Pc/Pw), where Pc is a price of cheese and Pw is a price of wine.
• Example: If a price of cheese (Pc) is $12 and a price of wine (Pw) is $24, then
Pc/Pw = $12/$24 = 1/2.
• Relative price is equal to the opportunity cost of the commodity in numerator
(cheese).
– On PPF diagram, relative price (Pc/Pw) is equal to a slope of PPF (aLC/aLW).
Pc/Pw = aLC/aLW
23. Disclaimer
Please do not copy, modify, or distribute
this presentation
without author’s consent.
This presentation was created and owned
by
Dr. Ryoichi Sakano
North Carolina A&T State University
Disclaimer
Please do not copy, modify, or distribute
this presentation
without author’s consent.
This presentation was created and owned
by
Dr. Ryoichi Sakano
North Carolina A&T State University
Editor's Notes
How much is an opportunity cost of producing one unit of cheese in Home and in Foreign? How about wine? Which country has an absolute advantage in production of cheese? How about wine?