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Author Question: What are the terms of trade? What factors lead them to change over time? What will be an ideal ... (Read 86 times)

fasfsadfdsfa

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on: Jun 30, 2018
What are the terms of trade? What factors lead them to change over time?
 
  What will be an ideal response?

Question 2

How is poverty measured? What is the extent of poverty in the developing world?
 
  What will be an ideal response?


gcook

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The ratio of the price of a country's exports to that of its imports both in index form. Changes in the pattern of relative demand as income or tastes change in various parts of the world, and changes in supply, such as those brought about by technological progress. Discussed in detail in the chapter.

Answer to Question 2

The concept of absolute poverty is discussed in the text and the progression of absolute poverty in the developing world is shown in Figure 2.6 . If the concept of relative poverty was discussed in the lectures, instructors may look for that distinction in the answer.


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