Sometimes the exports of developing nations are concentrated in only one or a few primary products. For example, according to World Bank data, coffee constitutes almost 90% of Burundi's total exports. Therefore, changes in demand or supply of coffee can have significant effects on the health of Burundi's economy. The current world price of coffee is $5.00 per pound, but there is uncertainty about the shape of the demand and supply curves. The following graphs (scenario A and scenario B) show two possibilities for demand and supply in the market for coffee. Suppose that favorable growing conditions cause an increase in the global supply of coffee. On the following graph, shift the demand or supply curve of scenario A to show what happens in the market for coffee as a result of this event. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. (Jeon) 2 PRICE (Dollars) 9 3 2 0 0 1 2 On the following graph, shift the demand or supply curve of scenario B in the same direction that you did in scenario A. Scenario A 2 True I O False Supply Den and 6 T QUANTITY (Pounds of coffee) Scenario B Supply 8 3 QUANTITY (Pounds of coffee) 9 8 10 Demand Original Price New Price Scenario (Dollars per pound) (Dollars per pound) A B 5.00 5.00 10 Demand Supply Demand In the following table, enter the new price for coffee under each scenario as a result of the favorable growing conditions. (Hint: Select the black point (plus symbol) representing the new equilibrium on the previous graphs to see its coordinates.) Supply (?) True or False: Because the demand for coffee is more elastic in scenario A versus scenario B, changes in supply cause more volatile price fluctuations for Burundi under scenario A.

Country A has a natural climate that is perfect for growing strawberries - long sunny seasons and plenty of rich, well drained soil. Country A also has a big labor force with agriculture knowledge and can produce 80,000 baskets of strawberries in one growing season.   By contrast, Country B’s climate is less well-appointed for strawberries - a shorter summer season with large areas of red clay. They also have a smaller population trained in agriculture. Country B can only produce 30,0000 baskets of strawberries in one growing season.   In this scenario and with this information, Country A has Group of answer choices Absolute advantage for producing strawberries Comparative advantage for producing strawberries The lowest synthetic advantage for producing strawberries Elastic advantage for producing strawberries

You're the CEO of a small company traveling to another country (assume a country of your choice) to complete a business deal with a foreign company.  Your plane landed there on time, you're feeling fine, and everything seems to be going well.  The cab driver, who doesn't speak much English, understood where you needed to go and started driving.  He starts to listen to a Justin Bieber song and asks you in broken English what type of music you like.  As your cab enters the hotel, you notice a McDonald's restaurant across the street with familiar golden arches.  You check-in with your credit card, call your spouse from your iPhone and exchange some dollars at the money exchange place at the lobby of the hotel.  You then get some take-out food from the McDonald's since you'll get plenty of opportunities to dine in local restaurants later on. When returning to your hotel room, you wonder why the instructor at the culture training class asked you to be careful about cultural differences when…

From 1980 to 2010, China achieved a rapid increase in per capita Real GDP by:     lowering its tariff rates     actively pursuing international trade     Both of the above     Neither of the above