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Economics

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Autumn Huels

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Cards in this guide (11)
Environmental-protection laws can be bad for the economy because they may do what

Environmental-protection laws can be bad for the economy because they may increase unemployment.

How does the IMF use its loans to attempt to control and fix the economies of countries that need its help

By imposing conditionality

What circumstances would allow Country A to have an absolute advantage over Country B in the production of computers

Companies in Country A can produce computers at a lower cost.

Globalization creates greater what

Interconnections among the people and economies of the world

What was the relationship between colonizing countries and their colonies

The colonizers used the resources of their colonies to grow their own economies.

The government can prevent the shortages that accompany price ceilings by doing what

Rationing

The process of globalization involves an increase in what

The mobility of goods, services, labor, and capital

When might a country specialize in producing a particular good

When a country has an absolute advantage in production of that good it may specialize in producing that good.

If developing countries have weak domestic industries they do not benefit from what

Free-trade policies

When one country can produce a product more cheaply than another country can this is called

comparative advantage

What is largest difference between developed and developing countries

the level of wealth

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