Premium Essay

Chapter 19 Connect

In:

Submitted By Ffu27
Words 571
Pages 3
Chapter 19 is about international trade, and what the benefits of international trade are.

US Trade Patterns
Imports are the goods and services that we buy from people and firms in other countries. Imports represent 18% of total GDP.
Exports are the goods and services that we sell to people, firms, and governments in other countries. The U.S is the world's largest exporter, but exports represent a small fraction of total output.
The trade balance is the difference between the value of exports and imports. When imports exceed exports we have a negative trade balance called a trade deficit. The opposite is a trade surplus.

Motivation to Trade
Specialization increases total output. Without imports a country cannot consume more than it produces. Because just by changing the mix of output in at country total world output increases, that country has a motivation to trade. This works because when nations specialize in production, they can export one good and import another and end up with more total goods to consume than they had without trade.

PURSUIT OF COMPARATIVE ADVANTAGE
The ability of a country to produce a specific good at a lower opportunity cost than its trading partners is called comparative advantage. Nations export goods with relatively low opportunity costs, and import goods with relatively high opportunity costs. Some countries may have absolute advantage, that is, the ability of to produce a specific good with fewer resources than other countries.

TERMS OF TRADE
Terms of trade is the rate at which goods are exchanged. A country won’t trade unless the terms of trade are superior to domestic opportunities. The terms of trade depend on the willingness of market participants to buy or sell at various prices.

PROTECTIONIST PRESSURES
Workers and producers who compete with imported products have an economic interest in restricting trade

Similar Documents

Premium Essay

One Syllabus

...E-mail: pham.ng@husky.neu.edu Office location: 439 Dodge Hall/TBA Course Materials: • TEXT: Financial Accounting, 8th edition, Libby, Libby, & Short (Irwin McGraw-Hill) • Connect Plus • Learn Smart • Simple 4-function calculator Text and Connect Plus Options • Hardcover (including Connect Plus plus ebook access) o $303 at the Bookstore (resale value approximately $137 at the Booskstore) • Ebook and Connect Plus o $105 – online purchase o Valid for both semesters of this course • Connect Plus only o $76 – online purchase o No ebook or text material included o You can use this option if you have purchased a 2nd hand text • Looseleaf Text o $40 “upgrade” – you must have purchased one of the Connect Plus options o Online purchase through Connect Plus o This is a black & white, 3-hole punched, loose-leaf copy of the full text Registration with Connect is required. Your homework will be completed and submitted via McGraw-Hill’s Connect website. If you have not bought a text/package yet and are not sure if you will remain in this course, you can still register with CONNECT to do your first assignment by selecting the free trial option. Connect access class web page:...

Words: 2120 - Pages: 9

Free Essay

Intermediate Accounting Chapter 1 Ppt

...INTERMEDIATE ACCOUNTING I (ACC 221) 21 Aug 2013 - 15 Oct 2013 TEACHER: Dr. Joseph L. Ilk, CPA, CMA, CVA, CPCM TELEPHONE: Office: (703) 805-4473 Home: (540) 582-6008 E-mail: jilk@nvcc.edu If you e-mail me, please put “ACC 221" and either "E40W" or "E80W" ” in the subject line. If you do not I will not recognize the e-mail and will delete the file. The student needs to put their First and Last Name in the e-mail so I know who it came from. OFFICE HOURS: Mon-Fri 8:00 p.m. - 9:00 p.m.I check my e-mail (jilk@nvcc.edu) every day. NOVA IT Helpdesk: (703) 426-4141 CONNECT HELPDESK: (800) 331-5094 PRE-REQUISITES: ACC 212 - Principles of Accounting II I. THE COURSE: ACC 221, intermediate accounting covers accounting principles and theory, including a review of the accounting cycle and accounting for current assets, current liabilities, and investments. Introduces various accounting approaches and demonstrates the effect of these approaches on the financial statement users II. SCOPE: The study will cover but not be limited to the following areas: Theoretical structure of financial accounting Time value of money Review of the accounting process Cash and receivables Balance sheet Inventories Income statement Plant, property, and equipment Cash flow statement Investments Income measurement and profitability analysis III. Course Learning Objectives: * Comprehend the environment and theoretical...

Words: 2091 - Pages: 9

Free Essay

Report

...the Canvas course website (https://canvas.harvard.edu/courses/4482 ) for further details about the course. Note that you will be asked to use your Harvard Login ID and password for access. Teaching Assistants/Sections (all section times are Eastern Time Zone): - Kanwar Singh (students with last names starting with A-G): kanwar_singh@g.harvard.edu; section meeting time, Sunday 8:00-10:00 p.m. - Jordana Truboff (students with last names starting with H-O): jordanatruboff@fas.harvard.edu; section meeting time, Tuesday 7:00-9:00 p.m. - Colin Codner (students with last names starting with P-Z): ccodner@fas.harvard.edu; - section meeting time, Monday 8:00-10:00 p.m. - Susan Goldstein: goldstein@dcemail.harvard.edu; Canvas and Connect contact, no sections All sections will take place online through the web conference platform, Big Blue Button. Attend by clicking on the link in the email you receive before every section meeting or by clicking on “Conferences” in the left navigation panel of the Canvas site and then clicking the “join” button in the middle of the page. Recorded Sections: Available on the course website four-five hours after the section concludes. Access the recordings by clicking on “Conferences” in the left navigation panel of the Canvas site. Please contact TAs for any questions regarding...

Words: 1440 - Pages: 6

Premium Essay

Summer Syllabus

... |Chapter 1 | |Competitiveness, Strategy, & Productivity |Chapter 2 | |Supply Chain Management |Chapter 15 | |Forecasting |Chapter 3 | |Product and Service Design |Chapter 4 | |Exam 1 – Online 6/11 from noon to midnight |Chapters 1-4, & 15 | |Capacity Planning |Chapter 5 | |Process Selection and Facility Layout |Chapter 6 | |Location Planning and Analysis |Chapter 8 | | Quality Management |Chapter 9 | |Exam 2– Online 6/19 from noon to midnight |Chapters 5, 6, 8, 9 | |Statistical Quality Control |Chapter 10 | |Inventory Management |Chapter 13 | |JIT and...

Words: 2512 - Pages: 11

Premium Essay

Chapter Reviews Tech 140

...Chapter 1 –   Chapter 2 –   Chapter 3 – 1) What is different about the method used to boost a digital signal’s strength, compared with the method of boosting an analog signal’s strength? • A digital signal requires a repeater, which retransmits the signal in its original form, and an analog signal requires an amplifier, which increases the strength of both the signal and the noise it has accumulated. 2) Which of the following decimal numbers corresponds to the binary number 00001001? • 9 3) A wave with which of the following frequencies would have the longest wavelength? • 10 MHz 4) Ethernet relies on which of the following transmission types? • full-duplex 5) In wavelength division multiplexing, two modulated signals are guaranteed to differ in what characteristic? • Color 6) Which of the following can increase latency on a network? • Adding 50 meters to the length of the network 7) What part of a cable protects it against environmental damage? • Sheath 8) You are helping to install a cable broadband system in your friend’s home. She wants to bring the signal from where the service provider’s cable enters the house to a room on another floor, which means you have to attach a new cable to the existing one. What type of cable should this be? • RG-6 9) With everything else being equal, a network using which of the following UTP types will suffer the most cross talk? • Cat 3 10) Which of the following is not a source of EMI? • Megaphone 11) Which...

Words: 1818 - Pages: 8

Premium Essay

I Am Me

...ACC 3213: Intermediate Financial Accounting III, Fall 2013 Class Time/Room: Section 1: MW 12:00 – 1:50 PM A&E 0293 Section 2: MW 6:00 – 7:50 PM Science S205 Instructor: Kim Shima, PhD, MAcc, CPA Office: VBT 352 Phone/Voice Mail: 885-7176 E-mail*: kim.shima@csueastbay.edu Office Hours: MW 2:00-3:30 PM or by appointment Prerequisites: Acct 3212 or its equivalent with C- or better. Course Materials: Intermediate Accounting, 7th ed., Spiceland, Sepa, and Nelson CONNECT program (available with book purchase) PPT slides available on Blackboard site Basic Four Function Calculator (cell phones, iPods, and graphing calculators may not be used as a calculator on exams) Course Description and Objectives: This is the last course in a three-course sequence on intermediate financial accounting. The objectives of this course are to reinforce the fundamental knowledge developed in ACCT 3211 and ACCT 3212 and to continue to build the understanding on the theory and practice of financial reporting. During this course, we will cover topics such as income taxes, pensions and other post-retirement benefits, shareholders equity, share-based compensation, earning per share, accounting changes and error corrections, and the statement of cash flows (revisited). Homework and three exams are used to evaluate students’ understanding of the material. Special note: although the emphasis of this course is US GAAP, we are...

Words: 2030 - Pages: 9

Free Essay

Paper 1

...MacBook User’s Guide Includes setup, expansion, and troubleshooting information for your MacBook computer K Apple Computer, Inc © 2006 Apple Computer, Inc. All rights reserved. Under the copyright laws, this manual may not be copied, in whole or in part, without the written consent of Apple. Every effort has been made to ensure that the information in this manual is accurate. Apple is not responsible for printing or clerical errors. Apple 1 Infinite Loop Cupertino, CA 95014-2084 408-996-1010 www.apple.com Apple, the Apple logo, AirPort, AppleTalk, Final Cut, FireWire, iCal, iDVD, iLife, iMac, iMovie, iPhoto, iPod, iTunes, Mac, Macintosh, Mac OS, and QuickTime are trademarks of Apple Computer, Inc., registered in the U.S. and other countries. AirPort Express, Exposé, FileVault, Finder, the FireWire logo, iSight, MacBook, Macintosh Products Guide, MagSafe, Safari, Spotlight, SuperDrive, and Tiger are trademarks of Apple Computer, Inc. AppleCare, Apple Store, and iTunes Music Store are service marks of Apple Computer, Inc., registered in the U.S. and other countries. .Mac is a service mark of Apple Computer, Inc. ENERGY STAR® is a U.S. registered trademark. Intel and Intel Core are trademarks of Intel Corp. in the U.S. and other countries. The Bluetooth® word mark and logos are owned by the Bluetooth SIG, Inc. and any use of such marks by Apple Computer, Inc. is under license. Other company and product names mentioned herein are trademarks of their respective companies....

Words: 24206 - Pages: 97

Free Essay

Operation Manual

...Chapter 3 This chapter helps you power up your system and install drivers and utilities that came with the support CD. VERA 2 Starting up 3.1 Installing an operating system This motherboard supports Windows® 2000/XP and VISTA Premium operating system (OS). Always install the latest OS version and Because motherboard settings and hardware options vary, use the setup procedures presented in this chapter for general reference only. Refer to your OS documentation for more information. 3.2 Support CD information The support CD that came with the motherboard contains useful software and several utility drivers that enhance the motherboard features. The contents of the support CD are subject to change at any time without notice. Visit the ASUS website for updates. 3.2.1 Running the support CD To begin using the support CD, simply insert the CD into your CD-ROM drive. The CD automatically displays the Drivers menu if Autorun is enabled in your computer. Click on an item to install. If Autorun is NOT enabled in your computer, browse the contents of the click the ASSETUP.EXE to run the CD. 3.2.2 Drivers menu The drivers menu shows the available device drivers if the system detects installed devices. Install the necessary drivers to activate the devices. 3-2 Chapter 3: Starting up Intel Chipset Inf Update Program This item installs the Intel® Chipset INF Update Program. This driver enables Plug-n-Play INF support for the Intel®...

Words: 5285 - Pages: 22

Premium Essay

Jkasdjfhsd

...statements and related disclosures. The goals of the course are to provide students with a basic set of skills that can be used to compile and analyze financial statements and to prepare students for more advanced financial statement analysis courses. COURSE MATERIALS |Text Book |Financial Accounting 7th edition; Robert Libby, Patricia Libby and Robert Short; McGraw-Hill Irwin;| |(Required) |2010. | | |Connect Access Code | I do not recommend old editions of this book, but you make the final decision. You are required to purchase the Connect Access Code since some exercises and homework will be assigned, turned in and graded on Connect. You can also find more exercises there. A video that help with the Connect registration: http://screencast.com/t/Dzo9LxjAJ Please register at the following website: http://connect.mcgraw-hill.com/class/y_gao_copy_of_spring_2014 After you log in, you can do more accounting...

Words: 2830 - Pages: 12

Premium Essay

Marketing 319 Syllabus - Devry University

...Assignments | Week 1 TCO 1 Recognizing Marketing Opportunity: Initiating the Marketing Process | Chapter 1: Creating Customer Relationships and Value Through Marketing Chapter 2: Developing Successful Marketing and Organizational StrategiesAppendix A Building an Effective Marketing PlanChapter 3: Scanning the Marketing Environment Chapter 4: Ethical and Social Responsibility in Marketing | Course Project—Topic Proposal Graded Discussion Topics | Week 2 TCOs 2, 5, 6, 7 Understanding Buyers and Markets | Chapter 5: Understanding Consumer Behavior Chapter 6: Understanding Organizations as Customers Chapter 7: Understanding and Reaching Global Consumers and Markets | Graded Discussion Topics Quiz | Week 3 TCOs 1, 5, 6 Target Marketing Opportunities | Chapter 8: Marketing Research: From Customer Insights to Actions Chapter 9: Market Segmentation, Targeting, and Positioning | Graded Discussion Topics | Week 4 TCOs 1, 3, 4, 6 Satisfying Marketing Opportunities: Products and Services | Chapter 10: Developing New Products and Services Chapter 11: Managing Successful Products, Services, and Brands Chapter 12: Services Marketing | Course Project—Draft Marketing Plan Graded Discussion Topics Quiz | Week 5 TCOs 2, 3, 5, 6, 7 Satisfying Marketing Opportunities: Pricing | Chapter 13: Building the Price Foundation Chapter 14: Arriving at the Final PriceAppendix B Financial Aspects of Marketing | Course Project—Price Strategy/Breakeven...

Words: 312 - Pages: 2

Premium Essay

Student

...Course Outline RSM222H1S Management Accounting I Winter 2016 Class time, location, and instructor Tutorial time and location Instructor contact information L0301 L0401 L0501 L0601 L5101 L0101 L0901 L0201 L1001 L0701 L0801 L1101 T0101 T0201 T0301 T0401 T0501 T0601 T1201 T0701 T0801 T0901 T1001 T1101 Tuesday Tuesday Tuesday Tuesday Tuesday Wednesday Wednesday Wednesday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Friday Friday Friday Friday Friday 10-12pm 12-2pm 2-4pm 4-6pm 6-8pm 2-4pm 4-6pm 6-8pm 8-10am 10-12pm 12-2pm 4-6pm 10-11am 11-12pm 12-1pm 1-2pm 2-3pm 3-4pm 4-5pm 9-10am 10-11am 11-12pm 12-1pm 1-2pm WO 25 WO 25 WO 25 WO 25 SS 2127 WO 20 WO 20 WO 20 WO 35 SS 1070 SS 2108 GB 244 SS 2110 SS 2110 WW 126 WW 126 WO 30 SS 562 UC 52 WO 30 WO 30 WO 30 WO 35 WO 35 Gus De Franco Gus De Franco Eszter Palancz Eszter Palancz Amy Kwan Eszter Palancz Amy Kwan Eszter Palancz Donna Losell Ross Lu Amy Kwan Amy Kwan Gus De Franco (course coordinator), Gus.Defranco@rotman.utoronto.ca Donna Losell, Losell@rotman.utoronto.ca Amy Kwan, amyk.kwan@utoronto.ca Eszter Palancz, Eszter.Palancz@Rotman.Utoronto.Ca Ross Lu, Ross.Lu12@Rotman.Utoronto.Ca 1 Office hours Gus De Franco Donna Losell Eszter Palancz Amy Kwan Ross Lu By appointment, RT537 By appointment, RT529 Wednesday 4:30pm-5:30pm,...

Words: 2875 - Pages: 12

Free Essay

Term

...COMP 129 (On-Line) Notes Chapter 1 Introduction to Computer Repair Chapter Summary * • Computer technicians should actively listen, have a positive attitude, refrain from using technical acronyms and terminology when speaking with nontechnical people, and be culturally sensitive. * • Easily identify important computer parts installed in a computer and as standalone parts: case, keyboard, mouse, motherboard, monitor, power supply, hard drive, optical drive, adapter, riser board, and memory. * • Easily identify various ports to determine what device attaches to them: VGA, DVI, HDMI, DisplayPort, USB, IEEE 1394, 3.5mm sound jack, PS/2, RJ-45, eSATA, parallel, serial, and RJ-11. * • The most popular method for adding functionality to desktops, laptops, and tablets is to use a USB port. * • USB 3.0 ports will accept 3.0 and older devices and provide more power. You can add additional ports by connecting a USB module to motherboard pins. This module takes an expansion space (but not a slot). A PCI/PCIe adapter can also be installed to provide additional ports. Cabling from the power supply to the adapter might be required to provide power to the new USB ports. * • Up to five USB hubs can be daisy-chained to one port. Upstream ports connect to the computer or another USB port. Devices connect to downstream ports. * • USB hubs can be self-powered or bus powered. * • IEEE 1394 devices do not have to have a computer port and can be cabled to each...

Words: 6936 - Pages: 28

Premium Essay

Nt1210 Intro to Networking

...Rounded Size (Bytes) | Kilobyte | 1024 | 2 10 | 1000 | Megabyte | 1,048,576 | 2 20 | 1,000,000 | Gigabyte | 1,073,741,824 | 2 30 | 1,000,000,000 | Terabyte | 1,099,511,627,776 | 2 40 | 1,000,000,000,000 | 4. Which of the following answers are true about random-access memory (RAM) as it is normally used inside a personal computer? (Choose two answers.) b. Used for long-term memory d. Connects to the CPU over a bus using a cable 5. This chapter describes the concepts behind how a CPU reads the contents from RAM. Which of the following is true about the process of read data, as described in the chapter? a. The CPU tells the RAM which address holds the data that the CPU wants to read. 6. Define Character set: A list of all the characters on a computer with matching binary values ex: a = 110001 in ASCII which uses a 7bit code. 7. Character encoding scheme is another name for character set? a. True 8 & 9. Complete the following Decimal to binary chart. Decimal | Binary | | Decimal | Binary | 193 | 11000001 | | 255 | 1111111 | 52 | 00110100 | | 19 | 10011 | 50 | 110010 | | 172 | 10101100 | 170 | 10101010 | | 14 | 1110 | 6 | 110 (binary) | | 0 | 0000 | 10. Which of the following answers best describes how RAM (capacitor) physically writes a binary 0 or 1? a. Using an electrical charge 11. A single hexadecimal digit is equivalent to ____4____ binary digits. 12. Complete the following to Decimal to binary to hexadecimal...

Words: 1421 - Pages: 6

Free Essay

Sfdas Fsaf

...INTRODUCTION“UNIX NETWORK PROGRAMMING” Vol 1, Third Edition by Richard Stevens Read: Chapters 1,2, 3, 4 Communications Client Ex: TCP/IP Server Example: Telnet client on local machine to Telnet server on a remote machine Client and server are “user” processes TCP and IP are normally part on the “kernel” protocol stack 1 Aside on compiling programs in linux: To compile a program in Linux (not using make) for example the program intro/byteorder.c on p. 78 gcc byteorder.c This places the executable in a default file a.out gcc -o byteorder byteorder.c Places executable in byteorder ; can run by . / byteorder 2 Linux Configuration Tip: Instead of having to type . / program every time you run a “program” what you can do is in .bash_profile in your /root directory add to the path line. Path = . : Add this Now you can just type program instead of ./program since . is now included in your path (From a security standpoint this is a bad thing to do, thus it is not already there for you.) On another Linux subject: To switch from one default text login screen to another (not in the graphics GUI x windows) Alt Alt Alt etc 3 } F1 F2 F3 Default screen A second screen A third screen Now Figure 2.18 page 61 4 Example: a simple daytime client: What this example client program does is connect to a server and gets the date and time if we run: . / daytimetcpcli reachable_IP_address for example: 127.0.0.1 Gets date & time back printed out...

Words: 1951 - Pages: 8

Premium Essay

True Education

...Adam bore his Creator's image. God's plan was for Adam to show this image more and more clearly throughout eternal ages. But when Adam disobeyed, the image of God was almost wiped out--now, humanity is weak physically, mentally, and spiritually, and subject to death. This is me. This is the students I teach, the families with whom I interact. Amazing love! God set into motion the plan of redemption--the restoring of what had been lost. This redemption is the object of education, the object of life. My purpose in the classroom is to let God use me to be a catalyst for this redemption. What drives the catalyst and the reaction? Love. When we connect with God and obey His commands to love Him and others, we will be transformed into His image. "Unselfishness underlies all true development" (Ed 16). So, how do we connect with God? Nature is His creation, but it's been marred by sin, so we first go to God's Word for a true revelation of His character. The Bible should have the highest place in education. As we learn of God, we must learn by thinking and doing for ourselves, individually. The idea is to direct students to the sources of truth, "the great facts of duty and destiny" (Ed 17), and to let them...

Words: 641 - Pages: 3