How did globalization change some people’s lives? How did the changes lead to a conflict? What was the proposed solution(s) to the conflict? How satisfactory was the solution to each party? Can you imagine a way to avoid or resolve
Various theories on globalization exist. Choose two from the readings and describe each—one you agree with and one you disagree with—briefly describe each theory, and explain your reasons for agreement and disagreement. From this week’s reading assignment, we learned
Answer the following questions on globalization and protectionism: Why does the government create trade barriers if they can potentially hurt a worker in an economy (due to lower wages)? According to Greenlaw and Shapiro (2018), there are several ways that
Refer to the Unit 6 Learning Journal Poverty Trap Tables spreadsheet to complete the assignment. Susan is a single mother with three children. She is a cashier at a food market earning $7.75 per hour and works up to 2,000
Find an online news article dated within the last 12 months that discusses a government involvement in innovation. Using this information in the article provide the following information: Provide a brief background of the news article. How will this innovation
Compute the marginal utility. 1. Compute the marginal utility for cookie and slice of pie. Marginal Utility = Change in Units Consumed / Change in Utility Marginal Utility for Cookie calculation: 1) For 1 cookie, total utility and marginal utility = 18.
Calculate the price elasticity. 1. Price elasticity of demand from point B to point C: % change in quantity = 3500 – 2000 ÷ (3500+2000)/2 × 100 = 1500 ÷ 2750 × 100 = 54.55 % change in price =
How has the minimum wages or rent controls effected the economy of the country? Explain what the minimum wage is an example of. Discuss if you think the government should be involved in establishing laws for setting the minimum wages or rent
Explain a time in your life when you experienced opportunity cost. Why did you make the decision? What was another alternative that you could have made? Discuss how scarcity influenced your decision. According to our textbook, the term opportunity cost
For international trade, discuss your country’s absolute advantage, comparative advantage, and opportunity costs. What are the main goods or services that your country export? What are the products that your country imports? Do you think that your country can produce a particular good