Supply can shift due to changes in price.
Answer the following statement true (T) or false (F)
False
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Suppose the United States' production possibility frontier was flatter to the widget axis, whereas Germany's was flatter to the butter axis. We now learn that the German mark sharply depreciates against the U.S. dollar. We now know that
A) the United States has no comparative advantage B) Germany has a comparative advantage in butter. C) the United States has a comparative advantage in butter. D) Germany has a comparative advantage in widgets. E) Germany has lost its comparative advantage.
Since NAFTA was signed, Mexico saw the productivity of its firms:
a. decrease in the nonmaquiladora plants. b. decrease in the maquiladora plants. c. increase in the maquiladora plants at a faster pace than in the nonmaquiladora plants. d. increase in the maquiladora plants at a slower pace than in the nonmaquiladora plants.
Hasan has eaten three slices of pizza. What would be the marginal utility of the next slice?
a. 4
b. 6
c. 24
d. 28
An increase in the price level causes government spending to:
A. increase in social welfare spending only. B. decrease. C. remain unaffected. D. increase.