🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
7
answers
0
watching
216
views
26 Nov 2018

I need help with this!!!

International trade can improve efficiency in the use of global resources to make all parties better off. If no one can deny the power of comparative advantage and gains from trade, then why do we continue to resist? Trade happens because we want to sell goods to people in other countries, and we want to buy stuff that is produced in other countries. With individual decision makers acting in self-interest, do you think anyone is watching out for the global economy?

http://www.bbc.co.uk/news/business-29572475 (Links to an external site.)

Watch
7
answers
0
watching
216
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Tod Thiel
Tod ThielLv2
26 Nov 2018
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

Using the concepts of absolute and comparative advantage, answer the questions:

Why does the U.S. trade goods with other countries that they can produce themselves?

Wouldn't the U.S. be better off producing the goods themselves?

In your opinion, has the U.S. outsourced too much? Explain why you believe that the U.S. has or has not outsourced too much keeping in mind the reasons why corporations outsource, and the benefits derived from this strategy.

Please review the following resources when forming your opinion; you are free to do as much research as you want however your opinion should be based on data and not assumptions. For example, just because your cousin lost his job because it was sent overseas doesn't necessarily mean that there was an overall negative economic impact.

Economics of Outsourcing Policy: http://www.plu.edu/~econ331/home.html

The Case for Outsourcing Jobs: http://money.cnn.com/2012/09/14/news/economy/outsourcing-jobs/index.html

Outsourcing for Dummies: http://www.forbes.com/sites/danikenson/2012/07/11/outsourcing-for-dummies-including-the-willfully-ignorant/#39516eaa6821

US Manufacturers Have Three Million Available Jobs To Fill: http://www.infowars.com/us-manufacturers-have-three-million-available-jobs-to-fill/

U.S. Trade: Exports and Imports Decline Sharply in January 2009: http://www.calculatedriskblog.com/2009/03/us-trade-exports-and-imports-decline.html

Using the concepts of absolute and comparative advantage, answer the questions:

Why does the U.S. trade goods with other countries that they can produce themselves?

Wouldn't the U.S. be better off producing the goods themselves?

In your opinion, has the U.S. outsourced too much? Explain why you believe that the U.S. has or has not outsourced too much keeping in mind the reasons why corporations outsource, and the benefits derived from this strategy.

Please review the following resources when forming your opinion; you are free to do as much research as you want however your opinion should be based on data and not assumptions. For example, just because your cousin lost his job because it was sent overseas doesn't necessarily mean that there was an overall negative economic impact.

Economics of Outsourcing Policy: http://www.plu.edu/~econ331/home.html

The Case for Outsourcing Jobs: http://money.cnn.com/2012/09/14/news/economy/outsourcing-jobs/index.html

Outsourcing for Dummies: http://www.forbes.com/sites/danikenson/2012/07/11/outsourcing-for-dummies-including-the-willfully-ignorant/#39516eaa6821

US Manufacturers Have Three Million Available Jobs To Fill: http://www.infowars.com/us-manufacturers-have-three-million-available-jobs-to-fill/

U.S. Trade: Exports and Imports Decline Sharply in January 2009: http://www.calculatedriskblog.com/2009/03/us-trade-exports-and-imports-decline.html

Using the concepts of absolute and comparative advantage answer the questions.

1) Why does the U.S. trade goods with other countries that they can produce themselves? Wouldn't the U.S. be better off producing the goods themselves?

2) In your opinion, has the U.S. outsourced too much? Explain why you believe that the U.S. has or has not outsourced too much keeping in mind the reasons why corporations outsource, and the benefits derived from this strategy.

Please review the following resources when forming your opinion; you are free to do as much research as you want however your opinion should be based on data and not assumptions!

For example, just because your cousin lost his job because it was sent overseas doesn't necessarily mean that there was an overall negative economic impact.

- Economics of Outsourcing Policy http://www.plu.edu/~econ331/home.html The Case for Outsourcing Jobs http://money.cnn.com/2012/09/14/news/economy/outsourcing-jobs/index.html

- Outsourcing for Dummies (and the Willfully Ignorant) http://www.forbes.com/sites/danikenson/2012/07/11/outsourcing-for-dummies-including-the-willfully-ignorant/#39516eaa6821 US Manufacturers

- Have Three Million Available Jobs To Fill http://www.infowars.com/us-manufacturers-have-three-million-available-jobs-to-fill/

- U.S. Trade: Exports and Imports Decline Sharply in January 2009 http://www.calculatedriskblog.com/2009/03/us-trade-exports-and-imports-decline.html

Please take a look at how imports and exports mirror each other.

Related Documents

ECON 110 Chapter Notes - Chapter 33: Absolute Advantage, Opportunity Cost, Open Economy
ultramarinemole905
ECO 1304 Lecture Notes - Lecture 17: Absolute Advantage, Comparative Advantage, International Trade
fuchsiabee599
ECO100Y5 Lecture Notes - Lecture 1: Absolute Advantage, Comparative Advantage, Opportunity Cost
copperchimpanzee91

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in