MIU City University Miami Description of the activity and instructions Like any activity, understanding the concepts and definitions is essential to elaborate on the following questions and understand these topics thoroughly. • Energy consumption can affect trade and vice versa. Energy manifests itself in different ways. For example, in the United States, the Department of Energy is a federal agency that administers research and development programs and promotes the efficiency of national energy production in the country. What kind of renewable energy stands out when considering different energies, and explains why? Please offer one or two ways how? • One of the contentious issues between the US and China is the competitive devaluation of the currency. The value of countries' currencies has a significant impact on the economy. The import of products with comparatively low prices encourages currency devaluation in countries. Using what has just been declared, define what devaluation means and which countries have suffered the worst devaluation against the dollar after the 2022 pandemic. Include some factors to support your position. • In many developed countries, the principle and practice of economic equity is a basis for providing citizens with a better quality of life. Nevertheless, unfortunately, the equitable distribution of wealth is not so well divided. Why are the rich getting richer and the poor poorer? Without considering a country, provide at least three to five factors that influence the deficiency of economic equity in general. • Finally, as the lesson indicated, international trade plays an enormous role in countries' economies. The literature has shown a relationship between economic growth and international trade, which has been discussed for many years and can create many benefits. Leaving these points and referring to what we learned in the lesson, how do free trade agreements benefit or affect this relationship between economic growth and international trade? Please explain.

MIU City University Miami Description of the activity and instructions Like any activity, understanding the concepts and definitions is essential to elaborate on the following questions and understand these topics thoroughly. • Energy consumption can affect trade and vice versa. Energy manifests itself in different ways. For example, in the United States, the Department of Energy is a federal agency that administers research and development programs and promotes the efficiency of national energy production in the country. What kind of renewable energy stands out when considering different energies, and explains why? Please offer one or two ways how? • One of the contentious issues between the US and China is the competitive devaluation of the currency. The value of countries' currencies has a significant impact on the economy. The import of products with comparatively low prices encourages currency devaluation in countries. Using what has just been declared, define what devaluation means and which countries have suffered the worst devaluation against the dollar after the 2022 pandemic. Include some factors to support your position. • In many developed countries, the principle and practice of economic equity is a basis for providing citizens with a better quality of life. Nevertheless, unfortunately, the equitable distribution of wealth is not so well divided. Why are the rich getting richer and the poor poorer? Without considering a country, provide at least three to five factors that influence the deficiency of economic equity in general. • Finally, as the lesson indicated, international trade plays an enormous role in countries' economies. The literature has shown a relationship between economic growth and international trade, which has been discussed for many years and can create many benefits. Leaving these points and referring to what we learned in the lesson, how do free trade agreements benefit or affect this relationship between economic growth and international trade? Please explain.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 11RQ: What does a production possibilities frontier illustrate?

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Question

This activity focuses on developing direct and supported opinions using various sources of information on the importance of the following topics: non-renewable and renewable energies, economic factors and obstacles that can affect the relationship between international trade and economic growth, devaluation of the currency in countries, and the imbalance of economic equity. In this context, it is essential that, when studying and developing these topics, students understand the concepts of the value of currencies and that leads to devaluation, non-renewable and renewable energy resources, economic development and obstacles, distribution of wealth, economic growth and external and internal constraints, and about international trade as a growth factor.

Thus, the objectives that are intended to be achieved are the following:

Acquire knowledge about the concepts mentioned above.
Determine relationships between economic growth and international trade. Understand what some limitations that exist preventing this relationship are.
Factors influencing poverty and global inequality.
Relationship between energy consumption and trade

MIU City University Miami
Description of the activity and instructions
Like any activity, understanding the concepts and definitions is essential to elaborate on the
following questions and understand these topics thoroughly.
• Energy consumption can affect trade and vice versa. Energy manifests itself in
different ways. For example, in the United States, the Department of Energy is a
federal agency that administers research and development programs and promotes
the efficiency of national energy production in the country. What kind of renewable
energy stands out when considering different energies, and explains why? Please offer
one or two ways how?
• One of the contentious issues between the US and China is the competitive
devaluation of the currency. The value of countries' currencies has a significant impact
on the economy. The import of products with comparatively low prices encourages
currency devaluation in countries. Using what has just been declared, define what
devaluation means and which countries have suffered the worst devaluation against
the dollar after the 2022 pandemic. Include some factors to support your position.
• In many developed countries, the principle and practice of economic equity is a basis
for providing citizens with a better quality of life. Nevertheless, unfortunately, the
equitable distribution of wealth is not so well divided. Why are the rich getting richer
and the poor poorer? Without considering a country, provide at least three to five
factors that influence the deficiency of economic equity in general.
• Finally, as the lesson indicated, international trade plays an enormous role in
countries' economies. The literature has shown a relationship between economic
growth and international trade, which has been discussed for many years and can
create many benefits. Leaving these points and referring to what we learned in the
lesson, how do free trade agreements benefit or affect this relationship between
economic growth and international trade? Please explain.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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