each one needs to be 200 words with atleast 1 reference 

each one needs to be 200 words with atleast 1 reference ‎o

1) Go to The Economist website and search for the Big Mac Index  for a recent time period. Compare the Purchasing Power of the United  States with another country. Try to choose a country with which you are  not very familiar. What does this parity say about the potential  standard of living in the country you chose? What does it say about the  potential wage level?

2) Over several decades, some industries, such as textile and clothing,  which were once a significant part of the U.S. economy, have shifted  manufacturing abroad. Using the idea of opportunity cost, provide an  explanation of the reasoning behind this shift. How has this shift  affected economic well-being locally? How do the gains compare to the  losses?

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