ECON IUP Economics Fill in the Blanks International Trade

1. in the 2008 US republican presidential primary, John McCain and Mitt Romney squared off on the implications of international trade for the US ___________ industry, with John McCain arguing that many of that industries were not coming back to __________(city/state location).

2. a transformation schedule that has a bowed out shape exhibits __________ opportunity cost.

3. the GDP equation for a country with a closed economy is Y = ________.

4. another term used interchangeably with “marginal rate of transformation” is __________.

5. the type of economic research that involves statistical data analyses is _______ research.