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Business Economics Economics: Private and Public Choice (MindTap Course List)

The imports and its impacts over the domestic jobs.

The imports and its impacts over the domestic jobs.

Solution Summary: The author analyzes the impact of imports on the economy, and argues that the argument that "imports destroy the jobs" is not valid.

Economics: Private and Public Choice (MindTap Course List)

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN: 9781305506725

Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher: Cengage Learning

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Question

Definition Video Definition Ability of a country to produce goods and services at a lower opportunity cost compared to other countries. Here, opportunity cost refers to the forgone units of one good in order to produce one more unit of another good. For example, the opportunity cost of producing good X in country A is 2Y and in country B is 1.25Y. Country B has a lower opportunity cost of producing good X than country A. Therefore, country B has a comparative advantage in the production of good X. Video

Chapter 18, Problem 5CQ

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The imports and its impacts over the domestic jobs.

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Chapter 18, Problem 4CQ

Chapter 18, Problem 6CQ

Students have asked these similar questions

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Any goods, raw materials, or services that are produced in one country and then sold to another country, this is called?

Chapter 18 Solutions

Economics: Private and Public Choice (MindTap Course List)

Ch. 18 - Prob. 1CQ Ch. 18 - Prob. 2CQ Ch. 18 - Prob. 3CQ Ch. 18 - Prob. 4CQ Ch. 18 - Prob. 5CQ Ch. 18 - Prob. 6CQ Ch. 18 - Prob. 7CQ Ch. 18 - Prob. 8CQ Ch. 18 - Prob. 9CQ Ch. 18 - Prob. 10CQ

Ch. 18 - Prob. 11CQ Ch. 18 - Prob. 12CQ Ch. 18 - Prob. 13CQ Ch. 18 - Prob. 14CQ Ch. 18 - Prob. 15CQ Ch. 18 - Prob. 16CQ Ch. 18 - Prob. 17CQ

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What goods will each country export/import?
Why Japan is dependent on food import?

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