Microeconomics Homework Help

In this Assignment, you will conduct the appropriate research to answer the assigned questions and create a 3-4 page expository research paper.
Assignment
An effective understanding of economics forms the foundation of every manager’s, entrepreneur’s, bureaucrats, and leader’s ability to analyze business situations and to develop an appropriate response. The globalization of business is a fact of life for all business professionals. One of the most contentious issues in today’s global business world is the issue of closing local manufacturing facilities, laying off those American workers, and re-opening the same manufacturing facility in an Asian, or other third world country.
Look in your own closet at the clothes you have purchased. Pick any 10 items of clothing and look at the labels in those clothes. Where were they manufactured? How many of the 10 items were manufactured here in America? If that same exercise had been done 50 years ago, (approximately the 1970s), all the clothes you owned would have been manufactured in textile mills in the Southeastern United States (Georgia, Alabama, Mississippi, North Carolina, South Carolina, etc.). All those Southeastern textile mills are now closed, and people buy foreign made clothes. If you were able to go further back in time to 150 years ago (1870s), the clothes you owned would have been manufactured in textile mills in the Northeast United States (Maine, New Hampshire, Vermont, Massachusetts, etc.). Yet, by the early to mid-1950s, those Northeastern textile mills were closed and their workers were out of a job. The mills had all relocated to the Southeast during the years following the Civil War.
Many people say that we should ban the import of these foreign made clothes, so that more workers in American clothing textile mills could have jobs. Others say that we should continue to import clothing because imported clothing is relatively less expensive and more people can afford to buy more clothes at these low prices. Still others say that we should put an import tariff (an extra tax that would be paid when we buy these imported clothes), making the price of imported clothing comparable to the price of clothing made in the U.S., and, therefore, encouraging American consumers to buy American-made clothing.
Questions
Before answering the following questions, review the Assignment Checklist. Then, in a separate Word document, answer the following questions in a 3–4 page expository research paper:

  1. How much does international trade affect you personally? Look at any 10 items around your home that you have purchased in the last year. Where were they made? How many were made in America, compared to how many were foreign made? What things does America export to other countries? What things does America import from other countries? How does what you have learned about Comparative Advantage affect this trade?
  2. Currently there is a lot of talk among politicians about imposing tariffs on foreign made products imported into the U.S. and retaliatory tariffs imposed by foreign countries on U.S. made goods. What is a tariff? Who ultimately pays the tariff? Who gets the proceeds from the tariffs? What is the money used for? Discuss the advantages and disadvantages to all involved parties (American workers, American consumers, foreign workers, and foreign consumers) of tariffs on imports to the U.S. and retaliatory tariffs imposed by foreign countries on U.S. made goods.
  3. In considering the foreign trade issue, discuss how the background, education and cultures of the people in the U.S. and the cultures in each trading country affects their understanding of the importance of foreign trade. Discuss the importance of your ability to understand and accept multiple cultural differences in a global context. What recommendations would you suggest to increase American understanding and acceptance of foreign cultures?

Assignment Checklist:

  • Write your paper in a separate Word document.
  • Unless specified differently by your course instructor, save your Assignment to your computer with the following file naming format: Course number_section number_last name_first name_unit number
  • Your title page should, at a minimum, contain the following information: Your name, course number, section number, date, and the title of your paper
  • Write a 3–4 page paper (in addition to the title and reference pages) following APA 6th edition format with citations to any quoted, or paraphrased sources. Your written research should also be in Standard English with correct spelling, punctuation, grammar, and style (double-spaced, in Times New Roman, 12–point, and in black font).
  • Your paper should provide a clearly established and sustained viewpoint and purpose.
  • Your writing should be well ordered, logical and unified, as well as original and insightful.
  • A separate page at the end of your research paper should contain a list of a minimum of one cited and referenced academically credible reference, in proper APA 6th edition formatting.
  • Cite and reference your academically credible sources from the Library and any other academically oriented online sources. Review the APA formats found in Writing Resources accessed through the Academic Success Center within the Academic Tools area of the course.
  • Review the Rubric below to ensure all points have been captured in the paper.

 

Homework Market
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Homework Market

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Homework Market

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Homework Market

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Homework Market

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Homework Market

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

Homework Market

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Homework Market

Place your order

Fill in the order form and provide all details of your assignment.

Homework Market

Proceed with the payment

Choose the payment system that suits you most.

Homework Market

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Homework Market Homework Market

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Homework Market Homework Market

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Homework Market Homework Market

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Homework Market Homework Market

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.