International Trade What determines whether a countryimports or exports a good? Who gains and who loses from free tradeamong countries? What are the arguments that people usedto advocate trade restrictions?
Efficiency v. Equity – Efficiency means society gets the most that it can from its scarce resources. – Equity means the benefits of those resources are distributed fairly among the members of society
Topics 4 questions from before HW#1 Unemployment Natural rate of unemployment reasons for unemployment Frictional unemployment Wait unemployment Patterns of unemployment
