Chapter 15: Problem 2
Why might people in less-developed countries have more children than people in developed countries?
Chapter 15: Problem 2
Why might people in less-developed countries have more children than people in developed countries?
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Get started for freeSteve, an American in London, wants to buy a British-made sweater. The current price of the sweater is \(£ 40 .\) Would Steve be better off if the exchange rate is 1 dollar=\(£ 0.87\) or 1 dollar =£ 0.77 ?Explain your answer.
First state, and then evaluate, the tit-for-tat argument for trade restrictions.
In country A, the government does not protect private property, taxes are high, and quotas and tariffs are imposed on imported goods. In coun try \(\mathrm{B}\), the government does protect private property, taxes are low, and free trade is practiced. In which country do you expect economic growth and development to be stronger? Explain your answer.
What are some of the benefits of free trade to a less-developed country?
In this section we defined a poor or less-developed country as a country with a low per capita GDP. Does it follow that the people in a country with a low per capita GDP are not as happy as the people in a country with a high per capita GDP? Explain your answer.
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