This archive file of ECO 372 Week 4 Discussion Questions shows the solutions to the following problems:
1)What if I was coaching football again in a small town in Idaho and had a player who was faster than anyone on the team? He can throw the ball farther and more accurately than anyone on the team. He does a better job of blocking and is a great tackle. What if this player had an absolute advantage in almost every position in football? It is obvious this player should be the quarterback. (Use the concept of comparative advantage in your response.)2) NAFTA has been good to me3) International trade tends to equalize prices of goods and services around the world.4) Trade restrictions persist largely because those harmed by the restrictions are unaware of their lost welfare, while beneficiaries know the gain from the restrictions. (Note the opening quote in this lecture.)5) There are no valid arguments in favor of restricting international trade.6) If wages are lower in Mexico than in Germany, labor costs per unit of output can still be higher in Mexico.7) The US should internationalize a larger segment of our national debt.8) From a global prospective economic freedom is related to growth.9) Budget deficits have little or no impact on the short or long term economy of the USA. 10) Using the terms and concepts from this class I could share a recent article on international trade with the class.