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Rina8888 [55]
3 years ago
5

Which economic philosopher has the most positive effect on the United States economy today?

History
1 answer:
PIT_PIT [208]3 years ago
6 0
Alexander Hamilton has had a lot of influence on the American School<span> of Economics. However, the tides are turning and economic policy is ripe for disruption. </span>
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Which idea guided the development of the articles of confederation
cluponka [151]
It was the idea of wanting to have the individual states be more powerful than the federal government that guided the development of the articles of confederation, which is why they later proved to be inadequate and were replaced with the Constitution.
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Which of the following was a disadvantage of machine politics?
rjkz [21]
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What is one major difference between a region and a period
Elenna [48]

“era” refers to a period of time characterized by events in a chronological order.

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5 0
3 years ago
Read 2 more answers
Match each of the terms below with its definition.
juin [17]

Answer:

Absolute  advantage: The ability to produce  more cheaply.

Comparative  advantage: The existence of lower  opportunity costs than  competitors.

Specialization: The performance of a  particular task  within an economic  system.

Protectionism: The existence of barriers  to free-flowing trade.

Explanation:

The four terms that are defined above have to do with trade and the economic theories behind the different trade policies that countries employ. Protectionism is employed when countries want to avoid trade with outside countries and to lower competition with outside countries. Therefore, a country may impose tariffs that make importing goods very expensive. A country will have an absolute advantage in a product if they can make it much cheaper than another country. For example, timber products in Canada will cost less because they have an abundance of forests compared to other countries. A country may have an absolute advantage in one industry but that still may not be its comparative advantage. The country will have to weigh the trading opportunity costs are. Say that one country has no farmland but it has lots of oil. The other country has farmland and oil, but is willing to forgo trading oil in order to trade food for oil with the other country because the opportunity costs for forgoing oil are lower. Now the second country has a comparative advantage in food and the first country has a comparative advantage in oil.   David Ricardo believed that comparative advantage would lead to specialization as in countries would specialize in the products they have a comparative advantage in.

6 0
3 years ago
Justinian's greatest construction achievement was
malfutka [58]
The Hagia Sophia.
Hope it helped
7 0
3 years ago
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