ECO 561 Week 5 LT Assignment Comparative and Absolute Advantage

Buy here: http://homework.plus/eco-561-week-5-lt-assignment-comparative-and-absolute-advantage/ Develop a 1,750-word analysis of the international economy in which you do the following:

● Analyze measures of economic growth, and comparative and absolute advantage in international trade for the following countries:

○ USA ○ China ○ Saudi Arabia ○ Democratic Republic of Congo

● Research each country, using such resources as the CIA World Fact Book, World Bank data, and World Trade Organization. Research its economic, political, and cultural development.

● Compare the following using tables or graphs, for most recent year available and for 2009 (the trough of the last economic cycle):

○ Country GDP per Capita ○ Country GDP as a % of World GDP ○ Country exports per capita ○ Country exports as a % of GDP ○ Country exports as a % of World exports. ○ Country imports per capita ○ Country imports as a % of GDP ○ Country imports as a % of World imports (world imports = world

exports) ● Discuss reasons why the economic growth of the four countries varies so

markedly. How does trade influence the strength of the economy worldwide? ● Determine the stage in the lifecycle for each country's economy. ● Discuss the following for each country:

○ At least two products that have provided the country an absolute advantage in trade (if any)

○ At least two products that have provided the country a comparative advantage in trade

○ Factors that have prevented a country from achieving either

Cite a minimum of three peer reviewed sources.