During the 1950s, the United States imported wool from Great Britain, exporting wheat, while Great Britain imported wheat from the United States, exporting wool. In 1957 Hungarian-American economist Bela Balassa compared the production of wool and wheat in the United States and Great Britain. For both of these products, Balassa found that the United States could produce a larger amount of output than Great Britain. Some American politicians used this result to argue that there was no gain to the United States from continuing to import wool from Great Britain. Were the American politicians correct? Explain whether or not gains from free trade exist when one of the trading countries has the absolute
advantage in producing both goods. Explain why or why not gains from trade would exist in this case and what determines whether gains from trade exist

Assume a two-country, two-good, two-input model. Let the countries in the model be the United States and the Rest of the World and the goods be steel and wheat. The two factors of production are capital and land. Further, the United States is capital-abundant and steel production is capital-intensive. Suppose, in the absence of trade, the United States operates at a point on its production possibility curve where it produces and consumes 20 units of wheat and 20 units of steel. Once it engages in free trade, the international price of one unit of steel is two units of wheat. In response to the opening of trade, the United States moves along its production-possibility curve to a new point where it produces 30 units of steel and 10 units of wheat. Is the United States better off following the opening of trade? Illustrate with a diagram and provide a clear explanation for your answer

The Amendment(s) to the United States Constitution having implications in criminal processes in the United States are :

The Fifth Amendment of the Constitution provides what right(s) to a person tried with a crime.

The elements that had to occur for the common law crime of burglary to occur were:

The types of product defects are:

The United States has subsidies for farmers in the United States which drives down the cost of food. Proponents of free trade argue that these subsidies are a form of government waste and that allowing the free market to work will produce greater competition to help keep food prices low. They also argue that the system had loopholes that contribute to excessive waste.

Proponents of market intervention argue that subsidies are needed to keep farmers competitive with the rest of the world which also subsidizes their farmers. They also argue that lower food prices benefits outweigh the increase in tax to subsidize food.

Identify groups that are impacted both positively and negatively from this policy (please cite the website used)

The United States has subsidies for farmers in the United States which drives down the cost of food. Proponents of free trade argue that these subsidies are a form of government waste and that allowing the free market to work will produce greater competition to help keep food prices low. They also argue that the system had loopholes that contribute to excessive waste.

Proponents of market intervention argue that subsidies are needed to keep farmers competitive with the rest of the world which also subsidizes their farmers. They also argue that lower food prices benefits outweigh the increase in tax to subsidize food.

Identify the problem that is causing the desire for market intervention (please cite the website used)

The United States has subsidies for farmers in the United States which drives down the cost of food. Proponents of free trade argue that these subsidies are a form of government waste and that allowing the free market to work will produce greater competition to help keep food prices low. They also argue that the system had loopholes that contribute to excessive waste. Proponents of market intervention argue that subsidies are needed to keep farmers competitive with the rest of the world which also subsidizes their farmers. They also argue that lower food prices benefits outweigh the increase in tax to subsidize food.

Identify arguments for and against each side of the topic. What are the objectives of each side? ( please provide citation of website used)

Please answer the following:

How do the economic systems of Russia, the United States, the United Kingdom vary? How do political policies, property rights, and public choice system in Russia, the United States, the United Kingdom relate or differ?

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Research and read about universal healthcare efforts in the United States. Using approximately 200 to 400 words, provide the pros and cons of universal healthcare in the United States.

The United States has experienced a large trade deficit in recent years. Analyze the implications of a growing trade deficit on the future growth of the United States USE CITATION

Discuss the extent to which aspects of labor relations in other countries should be adopted in the United States. For example, should the United States adopt mandatory works councils?