https://mru.org/courses/principles-economics-microeconomics/comparative-advantage- definition-tasmania

1.tps://mru.org/courses/principles-economics-microeconomics/comparative-advantage- definition-tasmania (Note: if you ever can't get a link like that video or a podcast to work, check your browser settings or try it on a different device.) 1. What is the main explanation the video gives for why native Tasmanians were underdeveloped technologically relative to the natives in the rest of Australia? 2. The two people in the video are Ann and Bob, who produce fish and bananas. Explain how if Ann gets better at fishing, this also benefits Bob. (4 points) 3. What two factors does the video argue play key roles in the movement from poverty to prosperity?

4.Based on the lessons of comparative advantage from Chapter 3, should Lebron mow his own yard? Explain why or why not. Your answer should include a discussing of the difference between absolute advantage and comparative advantage

2nd

https://www.youtube.com/watch?v=vzoP0u7bpKY

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5. Does Reagan describe the United States relationship with our trading partners as zero-sum, or win-win? Explain 11. Why do you think most economists (and by the way, Reagan majored in economics) think that trade between countries also promotes friendships and peace between nations? Give an example of two countries that used to be enemies, but now are good friends that trade a lot.

6. In Chapter 9, Mankiw has reprinted two editorials. One by Arthur Brooks is on pp. 178-179, and one by Tunku Varadarajan is on pp. 182-183. Read one of those editorials and provide me with at least a 4-sentence summary of it. Then tell me why you agree or disagree with the editorial you chose. 7. In my notes, I talk about a lot of political leaders attitudes toward trade, including liberals like Bernie Sanders, Barak Obama, and Joe Biden, and conservatives like Ronald Reagan, George W. Bush, and Donald Trump. Tell me if you think my discussion of these people's attitude towards trade is even-handed, or in some way biased towards the conservative or liberal perspective. Explain your answer.

3rd https://www.stitcher.com/show/freakonomics-radio/episode/312-not-your-grandmothers- i-m-f-200144713

Although the whole podcast is fascinating, for purposes of these homework questions, I want you to listen to about 9 minutes of this podcast, starting at the 28:30 mark and listen for about 4 minutes to answer the next 3 questions. If you are searching it elsewhere, the podcast is Freakonomics Season 8 Episode 51, published on August 22nd 2019. Listen to Season 8 Episode 51. For these questions do NOT listen to the one called "Not your Grandmother's IMF."

8. Before you listen to it, look up Christine Lagarde on the web. Tell me one organization which she was the first female to be in charge of, and also one detail from her personal background you find interesting 9. What are three benefits of trade which Lagarde describes 10.. What are the two areas of concern which Lagarde notes policymakers need to keep in mind as we consider promoting more trade.

11. At about the 34:30 mark, Lagarde speaks personally, and not for the IMF when she says perhaps the economic dislocation is not the main reason so many people are voting against free trade today. What instead does she think is motivating a lot of that vote? Do you agree or disagree with her analysis?

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