1) Briefly summarize the article (3-4 sentences) The article is about the Australian Prime Minister Tony Abbott's protectionist strategy in the purchase of Australian companies. This highlights the event where Archer Daniels Midland attempted to purchase Graincorp, as well as the example of George Bush's Protectionist policy for US steel workers. It is concluded it is better to maintain an open anti-protectionist policy to encourage trade to find the best comparative advantage. 2) Is your article arguing for or against free trade? Explain The Article is mainly for free trade, as it takes the stances of criticizing Abbott's actions as well as likening it to Bush's "Failure". It determines Australia needs more foreign investment to remain competitive. It does however mention Abbott's encouragement to give Quantas more foreign investments. 3) Explain how different stakeholders might be affected (foreign/domestic producers, consumers, gov't) It is stated domestic producers will suffer from the lack of investments, which will consequently affect consumers. Consumers will experience higher price levels and hence higher costs of living. Foreign producers may not experience as much difficulty as domestic producers, though the lack of any comparative advantage will make it less beneficial for the foreign producers. The government is the only stakeholder who will gain, as the higher tariffs may increase tax revenue.

1) Distinguish whether or not the article is talking about absolute or relative poverty. 2) According to the article what are some possible causes of poverty. 3) According to the article what seem to be some of the consequences of poverty. 1) In this article, the Untied States are described as having a large amount of relative poverty. 2) The cause of the poverty is stated to be the lack of attention to issues by the Government and media involving poverty. The effects of this may be a poorly adjusted minimum wage to inflation, the lack of support for those in relative poverty and the removal of unemployment benefits. 3) It is implicated in the article that there is a poor level of attention to this issue, and that the level of equality is low. The reason to this may be the higher efficiency in an economy at a low equality.

The federal reserve has issued a statement where they intend not to raise the interest rates as long as the rate of inflation keeps itself low. It had originally lowered the interest rates in response to the 2008 financial crisis. The issue with this is that persistently low rates leads to a fear of a low value. The effect of this is a decreased aggregate demand as there is a lesser incentive for consumption.