ECO 561 Week 5 Comparative and Absolute Advantage Team Assignment

Jun 28th, 2016
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Develop a 1,750-word analysis of the international economy in which you do the following: • Analyze measures of economic growth, and comparative and absolute advantage in international trade for the following countries: o USA o China o Saudi Arabia o Democratic Republic of Congo • Research each country, using such resources as the CIA World Fact Book, World Bank data, and World Trade Organization. Research its economic, political, and cultural development. • Compare the following using tables or graphs, for most recent year available and for 2009 (the trough of the last economic cycle): o Country GDP per Capita o Country GDP as a % of World GDP o Country exports per capita o Country exports as a % of GDP o Country exports as a % of World exports. o Country imports per capita o Country imports as a % of GDP o Country imports as a % of World imports (world imports = world exports) • Discuss reasons why the economic growth of the four countries varies so markedly. How does trade influence t

Word Count: 1955
Showing Page: 1/9
Running head: COMPARATIVE AND ABSOLUTE ADVANTAGEComparative and Absolute AdvantageECO/561IntroductionThe economic production of a country, evaluated by the GDP at purchasing powerequality is a good sign of the overall potential for consumer trades. The GDP developmentrate is an added measure of the latent for future savings, a simple level of the states built on1ECONOMIC ANALYSIS OF DIFFERENT COUNTRIES1GDP at PPP, and the rate of growth is used. The CIA world fact book has facts on the GDPrate. (Al-Shammari et al., 2007).China has experienced its miracle, managing to move a significant number of itspersons out of shortage by joining state involvement with economic incentives to appealprivate speculation. Currently, China is entangled with monetary engagement, bringing itssuccess story to the continent of Africa. The exchange rate has reduced from 6.8 RMD PERU.S dollars in 2009 to 6.2 in 2013.Saudi Arabias economy is oil-based with a strong regime administration over majoreconomic actions. It owns approximately 16% of the globe established petroleum assets andis ranked leading exporter of oil. The petroleum segment accounts for unevenly 80% ofbudget incomes, 45% of the growth domestic product, and 90% of export rates. Saudi Arabiais reassuring the development of the private segment to expand its budget and to engage moreresidents that are in Saudi (Acemoglu, & Robinson, 2012).The US has the leading and most technically influential financial sys

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