What are “gains from trade”? What is the primary benefit of trade? Why is the idea that trade is beneficial counter-intuitive?
Answer to relevant QuestionsYou are to decide whether to implement “teams” in this course. Describe the costs and benefits of having teams of students work together on papers, exams, and homework. Would you implement teams? Why or why not?What is the difference between “absolute advantage” and “comparative advantage”? How can a less developed country like Mexico have a comparative advantage relative to the US?Look up “planned obsolescence” online and then make a case for and against planned obsolescence in competitive markets.(1) What do you think of this proposal to share jobs? Explain whether it would work.(2) Would it make sense to require people to retire at age 50 in order to let younger people have their jobs? Would that reduce ...(1) How can corporations be as dynamic and responsive as the market itself if they are not markets?(1) Does the argument of the book make any sense? How can corporations learn to be as dynamic as markets without experiencing ...
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