The United States has a comparative advantage in producing cotton if the U.S. price of cotton before international trade is ________ the world price
A) less than
B) equal to
C) greater than
D) not comparable to
A
You might also like to view...
All else equal, a major paper manufacturer filing for bankruptcy and shutting down as a result of an IRS tax evasion investigation would cause a move from
a. SA to SB. b. y to x. c. x to y. d. SB to SA.
What are the problems associated with price regulation?
What will be an ideal response?
Which of the following is true?
a. The U.S. has a mandated vacation policy, everyone gets 2 weeks b. There is a trend towards downshifting, opting for a simpler life or at least considering it c. Europeans generally have shorter vacations that North Americans d. The workforce in the U.S. is getting younger
Price controls often generate
A) more efficient markets. B) black markets. C) rapid adjustment to market-clearing prices. D) greater price flexibility.