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% Document Info
\author{ZMonk91 (zspitfire04)}
\pdfinfo{
  /Title (macroeconomics.pdf)
  /Creator (Cheatography)
  /Author (ZMonk91 (zspitfire04))
  /Subject (Macroeconomics Cheat Sheet)
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    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Macroeconomics Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{ZMonk91 (zspitfire04)} via \textcolor{DarkBackground}{\uline{cheatography.com/50566/cs/14388/}}}
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}ZMonk91 (zspitfire04) \\
  \uline{cheatography.com/zspitfire04} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Not Yet Published.\\
   Updated 20th January, 2018.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
  www.readability-score.com
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% Set font size to small. Switch to any value
% from this page to resize cheat sheet text:
% www.emerson.emory.edu/services/latex/latex_169.html
\footnotesize % Small font.


\begin{tabularx}{17.67cm}{x{8.635 cm} x{8.635 cm} }
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\mymulticolumn{2}{x{17.67cm}}{\bf\textcolor{white}{Comparative Advantage \& Int'l Trade Gains}}  \tn
% Row 0
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{\bf{Opportunity Cost}} & Highest-valued alternative that must be given up to engage in an activity \tn 
% Row Count 4 (+ 4)
% Row 1
\SetRowColor{white}
{\bf{Comparative Advantage}} & Situation of producing at lowest opportunity cost \tn 
% Row Count 7 (+ 3)
% Row 2
\SetRowColor{LightBackground}
{\bf{Specialization}} & Focusing production on highest Comparative Advantage \tn 
% Row Count 10 (+ 3)
% Row 3
\SetRowColor{white}
{\bf{Absolute Advantage}} & Situation of being able to produce higher amounts than anyone else, given same resources \tn 
% Row Count 15 (+ 5)
% Row 4
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{\bf{Autarky}} & Situation in which a country doesn't trade with other countries \tn 
% Row Count 19 (+ 4)
% Row 5
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{\bf{Terms Of Trade}} & Ratio of exports for imports in trade \tn 
% Row Count 21 (+ 2)
% Row 6
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{\bf{Free Trade}} & Trading between countries without gov't restrictions \tn 
% Row Count 24 (+ 3)
% Row 7
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{\bf{Quota}} & Numerical limit gov't imposes on quantity of good that can be imported \tn 
% Row Count 28 (+ 4)
% Row 8
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{\bf{Voluntary Export Restraint (VER) }} & Agreement negotiated between 2 countries placing a limit on a quantity imported by a specific country \tn 
% Row Count 34 (+ 6)
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% Row 9
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{\bf{General Agreement on Tariffs and Trade(GATT)}} & Countries agreed to reduce tariffs from very high levels of the 30's. \tn 
% Row Count 4 (+ 4)
% Row 10
\SetRowColor{white}
{\bf{World trade organization}} & int'l organization that oversees international trade agreements \tn 
% Row Count 8 (+ 4)
% Row 11
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{\bf{Globalization}} & Process of countries becoming more open to foreign trade and investment \tn 
% Row Count 12 (+ 4)
% Row 12
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{\bf{Anti-Globalization}} & Think distinctive cultures are crushed, unfair payment to poorer countries, and large corporations leave \tn 
% Row Count 18 (+ 6)
% Row 13
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{\bf{Protectionism}} & Using trade barriers to shield domestic firms from foreign competition (Saves jobs, protects high wages, protects infant industries \& National Security) \tn 
% Row Count 26 (+ 8)
% Row 14
\SetRowColor{white}
{\emph{Sources of Comparative Advantage}} & \textasciicircum{}Relative abundance of labor and capital, climate \& natural resources, technology, external economies of scale\textasciicircum{} \tn 
% Row Count 32 (+ 6)
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\par\addvspace{1.3em}

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% Row 15
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Tariff \& Quota Effects & Consumers \& Economy Lose, Producers Gain \tn 
% Row Count 2 (+ 2)
% Row 16
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Imports = & Amount of Consumption - Amount of production at a price \tn 
% Row Count 5 (+ 3)
% Row 17
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Trade Restrictions & the U.S. economy would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas. \tn 
% Row Count 12 (+ 7)
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\mymulticolumn{2}{x{17.67cm}}{\bf\textcolor{white}{Chapter 8 GDP}}  \tn
% Row 0
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Growth Rate & \% Change in RGDP (Ending - beginning) / beginning * 100 \tn 
% Row Count 2 (+ 2)
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\par\addvspace{1.3em}



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