Textbook Notes (380,752)
CA (168,206)
UTSC (19,296)
MGT (1,095)
MGTA01H3 (583)
Chapter 5

Notes taken during the lecture for Chapter 5 and 6

1 Page
53 Views

Department
Management (MGT)
Course Code
MGTA01H3
Professor
Chris Bovaird

This preview shows half of the first page. Sign up to view the full page of the document.
Chapter 5 Part 2 Lecture 6
When a government decides to print a large amount of money, they money itself
loses its value inflation, example: US
China exports a lot to Us, if US $$ goes down, Chinas economy goes down; US owes
China a lot of money; the value of US $$ goes down, it makes it more expensive for
Americans to buy Chinese manufactured goods, hence reducing jobs in Chinese
exporting industry. So China is mad at US for printing lots of bills.
In turn, this is growing US economy, as US$$ value falls, people over the world
would buy Us stuff more, exports from US increase, and therefore jobs will increase
Barriers to Trade:
Competitive Advantage: some countries can make certain products better than
others because they have access to the resources to make it faster cheaper and
easier. Other things that they cant make faster, cheaper and better, they buy it
elsewhere because that choice is cheaper.
Comparative Advantage: Things we make and sell, because we can CHOOSE to do
so. (*Note: The book’s definition of comparative advantage is BULLSHIT according
to the prof*)
Absolute advantage: things that one country makes that other possibly can NOT. So
you have absolute advantage over the other countries. Example: Canada has fresh
water, so we export it to Australia cause they dont have an abundance of fresh water
Most of our exporting money comes from technology, automobiles, maple syrup lol,
and water
Tariffs: when importing from another country the exporting country adds tariffs
which is any kind of fees for being able to buy that product
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
Chapter 5 Part 2 Lecture 6 When a government decides to print a large amount of money, they money itself loses its value inflation, example: US China exports a lot to Us, if US $$ goes down, Chinas economy goes down; US owes China a lot of money; the value of US $$ goes down, it makes it more expensive for Americans to buy Chinese manufactured goods, hence reducing jobs in Chinese exporting industry. So China is mad at US for printing lots of bills. In turn, this is growing US economy, as US$$ value falls, people over the world would buy Us stuff more, exports from US increase, and therefore jobs will increase Barriers to Trade: Competitive Advantage: some countries can make certain products better than others because they have access to the resources to make it faster cheaper and easier. Othe
More Less
Unlock Document


Only half of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit