The following post has two assignments namely;
1.Comparing and Contrasting – Ships
In an expository essay, compare and contrast the ships in “The Cargo Hulks” and the Asian Tiger in “Breaking Ships.” You must refer to both passages in your essay, including using appropriate quotes from both stories.
1. Watch the following video about The problems with GDP as an Economic measure, by Joseph Stiglitz (Economic Nobel prize winner, 2001) and identify the problems of the GDP as the indicator of society’s economy and society’s well-being. Focus on the 3 following areas: a) Economy, b) Environment, and c) Health.
2. In 1986, the world price of oil dropped sharply. Since the USA, at that time, was an oil- importing country, this was considered good for the U.S. economy. However, in Texas, that year there was a profound recession. Why? (2 points)
3. TheU.S.labormovement—whichmostlyrepresentsblue-collarworkers—hastraditionally favored limits on imports from less-affluent countries. Is this a shortsighted policy or a rational one in view of the interests of union members? How does the answer depend on the model of trade?
4. SupposethatItalyandFranceproducetwogoods:textilesandwine.TheyonlyuseLabor to produce these goods. In one day of work, a French worker can produce either 10 kg of cheese or 5 liters of wine. Instead, in one day of work, an Italian worker can produce either 4 kg of cheese or 1 liter of wine. Which country has absolute advantage in producing each of the two goods? Which country has comparative advantage in producing each of the two goods? Would they find it convenient to trade with each other?