2. What is absolute advantage? 3. What gives a country a comparative advantage?

4. Why do some countries fear increasing economic interdependence?

5. Why does globalization give countries an incentive to reduce wages for their workers?

6. Why do central banks play an important role in the global economy?

7. What is foreign aid, and what is its main purpose?

8. What is the WTO and what does it do/its goals?

9. What is the IMF and why do they impose conditions on what they do?

10. What is the World Bank and what does it do/its goals?

11. Why has globalization led to an increasing income gap between rich and poor countries?

12. Why hasn't globalization benefited the majority of the world's underdeveloped countries?

13. Name 3 or more challenges caused by globalization.

14. Why do many companies do business in countries where human rights are violated?

15. What are 2 or more benefits of globalization? Include prices.

16. Both Syria and Cuba produce basketballs and soccer balls. Syria can produce basketballs at a lower opportunity cost than Cuba. Cuba can produce soccer balls at a lower opportunity cost than Syria. According to the law of comparative advantage, what should happen?

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."

The market demand curve for a popular teen magazine is given by q = 80 - 10p where p is the magazine price in dollars per issue and q is the weekly magazine circulation in units of 10,000. if the circulation is 400,000 per week at the current price, what is the consumer surplus for a teen reader with maximum willingness to pay of $3 per issue?