In your own words, explain the Comparative Theory of David Ricardo

how  can  immigration affect economic growth in the home country, both in the short and long run. What do you think the term "brain drain" might mean in this context?

The concept of _________ __________ was introduced by economist David Ricardo, and it posits that, because each state differs in its ability to produce specific products, each state should produce and export that which it can produce most efficiently and import goods that other states can produce more efficiently.

Consider the Specific Factors model with two countries, Home and Foreign, with two goods, cars (c) and pharmaceutical drugs (d), and three factors, capital K, skilled labour S, and unskilled labour L. The production functions are given by 1 F.(Ke, Le) = K. Lễ and Fa(Ka, Sa) = K}S}. That is, skilled labour is specific to pharmaceutical drugs, and unskilled labour to cars. Suppose that the countries' factor endowments are KH = 2 = KF, and LF = 3/2, and SH LH :1 || 1 and SF = 1/2, so that the total labour force is 2 in both countries. The price of capital is denoted by r, the price of skilled and unskilled and normalise pa = labour by w, and wi. Denote the goods' prices by pc and Ра, : 1 for simplicity. The demand for cars and drugs in country j = H, F is given by x and r: %3D 2Yi and ra 3 pe 1Yi %3D 3 pa where Y' denotes aggregate income in country j. (a) Draw or compute the PPFS of Home and Foreign.

The economies of North Korea and India are: different in that North Korea has a command system, while India has a market system.   similar in that they are both basically command systems.   similar in that they are both basically market systems.   different in that India has a command system, while North Korea has a market system.

8. A) What is globalization? How do we know it is occurring? B) What is the benefits/costs of globalization? C)With current conditions in the world what is happening with globalization? Support your answer.

Consider the Specific Factors model with two countries, Home and Foreign, with two goods, cars (c) and pharmaceutical drugs (d), and three factors, capital K, skilled labour S, and unskilled labour L. The production functions are given by F.(Ke, Le) = K. Lễ and Fa(Ka, Sa) = K}S}. That is, skilled labour is specific to pharmaceutical drugs, and unskilled labour to cars. Suppose that the countries' factor endowments are KH = 2 = KF, L# and LF = 3/2, and SH = 1 and SF = 1 1/2, so that the total labour force is 2 in both countries. The price of capital is denoted by r, the price of skilled and unskilled labour by w, and w. Denote the goods' prices by pc and pd, and normalise pd 1 for simplicity. The demand for cars and drugs in country j = H, F is given by x and r: 1Yi 2Yi and x 3 ре || 3 pi where Y' denotes aggregate income in country j. (c) Compute the autarky equilibrium in Foreign and show that p > p. Compare equilibrium prices in Home and in Foreign and explain.

Identify oneeffect of the globalization of culture on the economy (in other words, interaction of the cultural domain on the economic domain) and whether the effect is furthering globalization.

What are the emerging trends and developments in transfer pricing globally?

Can question B be further explained? There is already an answer on Bartleby but I am unsure how the expert arrived at that answer.