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The Jones Act of 1920 best illustrates the environmental argument for trade barriers. 

Politicians agree that the Jones Act is fully relevant today, even though is almost a century old. For this reason, Congress has not made any moves to discuss it further. 

We run a trade deficit with Mexico, meaning that we import more than we export. 

The absolute PPP exchange rate between USA and Mexico is 19.85 Pesos/1 dollar.  You know that it costs $371 to buy a certain “basket” of goods in the USA. Absolute PPP says that you would need ______ Pesos to buy the same bundle in Mexico. (Round to 2 digits behind the decimal.)

The World Bank funds itself by imposing a small tax on all international flights and the cost is absorbed by passengers in their airline ticket price. 

The USA is ranked #3 in terms of inequality in income in the industrialized world. There are only 2 countries in the industrialized world with greater inequality of income. 

The price of good X was $11.34 last year but it is $12.03 this year. What is the inflation rate for good X? (Round to 2 digits behind the decimal.)

A final thought was provided by Paul Krugman. He ways that globalization has done more good through the profit motive than ____________________ every could have. 

The boys interview a young woman who ended her education at 6th grade when her parents could not afford to send her to school. Her dream had been to become a ________. 

A second organization (Grameen) offers loans that can be obtained by low income households. This allows one woman to start a(n) _________ business.