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Big Ideas

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Description

Big Ideas Chapter 18.19.20.22.24

Chapter 18:
1.Comparative vs. absolute advantage
2.Capital mobility and comparative vs. absolute advantage
3.Globalization vs. internationalization
4.Bretton Woods Institutions (IMF and World Bank)

  1. World Trade Organization (WTO)

Chapter 19:

  1. Perfect competition vs. mergers, patents, and transnational corporations
    2.Trade vs. environment in the WTO
    3.Standards-lowering competition
    4.Wealth and power
  2. Specialization and welfare
    6.Trade and scale
    7.Distribution and globalization
    8.Food security and international trade

Chapter 20:

  1. Balance of payments (BOP)
  2. Current account
  3. Capital account
  4. Fixed vs. flexible exchange rates
  5. The Efficient Market Hypothesis
  6. The Financial Instability Hypothesis
    7.Hedge, Speculative and Ponzi Investors
    8.Liberalization
    9.Speculation
    10.Leverage
  7. Moral hazard
  8. Adverse selection

Chapter 22:
1.Direct regulation
2.Command-and -control regulations

  1. Pigouvian taxes and subsidies
  2. Tradeable permits (quotas)
  3. Abatement costs
  4. Total allowable commercial catch (TACC)
  5. Individual transferrable quotas(ITQs)
    8.Ecological tax reform

Chapter 24:
1.Pricing non market goods and services
2.Contingent valuation and pricing nature
3.Market vs. nonmarket values
4.Marco-allocation asymmetric information
5.Asymmetric information
6.Subsidies for nonmarket goods
7.Seigniorage
8.International subsidies for ecosystem preservation
9.Comprehensive efficiency identity

Sample Solution

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