Author: Anonymous

Both tariffs and quotas have the same effect…they will increase the supply of the import. 

The interdependence in the EMU between the small, weaker nations and the large, stable nations meant that irresponsible behavior of countries like Greece and Italy could impact countries like Germany.  

In order to maximize the “economic pie”…tasks should be divided based on: 

Many experts discuss re-shoring. This is the idea that jobs are returning to the USA. 

In order to receive the financial assistance that Greece needed, they had to agree to what were called “austerity” measures… 

A Lorenz curve shows the distribution of income for a country. 

Creative destruction is a term given to the idea that:  

Steve Jobs also suggests that China “lures” foreign firms to move operations to China. For example, to entice American firms to do their production in China, these Chinese companies…

The bailout and austerity measures had to be voted on by Greek citizens. Because they had no other choice, the plan was approved, even though it was by only a narrow margin. 

Creative destruction has victims…there are winners and losers.