POLS 3900 Chapter 11: POLS3900TERMSexamprep.docx
16 Apr 2014
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Without a great deal of marketing and sales labor, without money for advertising and retailing, and without real needs of life, there would be little consumption. Comparative advantage: david ricardo theory of comparative advantage sought to explain howo trade could increase the wealth of nations by allowing specializaton. If country x can produce everything more efficiently than country y, both countries can reap economic gains when county x specializes in what is best at producing and trading freely- without tarrifs with country y. 80"s and 90"s parts of world had fiscal austerity forced on them by the imf and. World bank as one of the main conditionalities of new loans experienced. Austerity protests: riots over food prices, wage cuts, privatization of public services, and general decline of social infrastructure. 3 main int"l credit rating agencies ww: standard & poor"s, moody"s investor service, and fitch ratics: main business of these private us companies to provide financial info about.
