Based on what you have learned in the course, how do you think the global economy and specific industries within it would be affected?

There are four essay questions for this final examination. Answers of at a least a full page are required for each and are to be presented in APA format. All opinions must be clearly supported by material covered in the course and by additional scholarly articles of your choice. This final examination must be submitted as a Word document and be your own work. QUESTION #1 (40 points) Suppose that the Trump administration has decided to reconsider the Pacific Trade Pact that they declined to participate in last year. A) Based on quality sources that you provide references for, clearly explain what the Pacific Trade Pact is and how it could be improved. B) Based on specific components of chapters 18 and 19 from the course text that were assigned for Week #8, describe items of primary importance to making this pact one that the United States economy and the rest of economies will benefit from being part of. NO CREDIT WILL BE GIVEN FOR THIS QUESTION UNLESS CONTENT FROM THE TEXT IS INCLUDED AND CITED. C) Based on your work in B) and material from chapters 18 and 19, provide an overview of the revised Pacific Trade Pact that could be easily understood by readers who are not familiar with it. QUESTION #2 (20 points) Recently the United States has been imposed a growing number of tariffs on imports from China. Suppose that other countries around the world begin imposing similarly broad tariffs on the United States and each other. Based on what you have learned in the course, how do you think the global economy and specific industries within it would be affected? QUESTION #3 (20 points) A public nature area in your town has become badly polluted by some of the people using it who leave their garbage behind. What economic concept describes this? If you were given the job of creating economic incentives to improve the quality of the area, what would they be and how would they work? QUESTION #4 (20 points) Construct a tutorial that shows users of it how to apply marginal cost and marginal revenue concepts to business operations with the goal of maximized profitability.

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