ECO 561 Week 5 Learning Team Assignment Comparative and Absolute Advantage. Purpose of AssignmentThis assignment will help students master research and other analytical skills and will help students recognize reasons why economic growth varies by country. By using macroeconomic indicators, students will complete analysis and determine comparative and absolute advantage in different product categories for each country’s economy.Assignment StepsResources:ÿTutorial help on Excel?ÿand Word functions can be found on the Microsoft?Office website. There are also additional tutorials via the web offering support for Office products.Developÿa minimum 1,050-word analysis of the international economy in which you do the following:As a team, choose three countries from the list below. Research each country, using resources such as the CIA World Fact Book, World Bank data, World Trade Organization (WTO), and the Federal Reserve Bank. Research each of your three chosen country’s economic, political, and cultural development:Analyze measures of economic growth and of comparative and absolute advantage in international trade.USAAustraliaCanadaChinaSaudi ArabiaDemocratic Republic of CongoFranceGermanyGreat BritainItalyJapanUse tables and/or graphs to compare the following economic statistics/indicators of your three chosen countries for the most recent year available and for 2009 (the trough of the last economic cycle):Discuss reasons why the economic growth of the three countries varies. How does international trade influence the strength of the economy worldwide?Country Real GDPCountry CPICountry Real ExportsCountry Real ImportsCountry Unemployment RateCountry Industrial ProductionDiscuss the following for each country:At least two products that have provided the country an absolute advantage in trade (if any).At least two products that have provided the country a comparative advantage in trade.Factors that might have prevented any of your three chosen countries from achieving absolute and/or comparative advantages.Citeÿa minimum of three peer-reviewed sources.Formatÿthe assignment consistent with APA guidelines.