In the above figure, along which range would total revenue remain unchanged by raising prices?
A. between point c and point d
B. between point a and point b
C. between point d and point e
D. below point e and above point a.
Answer: A
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A) unemployed. B) employed. C) not in the labor force. D) a discouraged worker.
A country possesses a comparative advantage in the production of a product if
A) the opportunity cost, in terms of the amount of other products that it gives up to produce this product, is lower than it is for its trading partners. B) it possesses an absolute advantage in the production of this good compared to its trading partners. C) it is able to produce less of this good per worker than its trading partners. D) it can produce more of this good per hour than its trading partners.
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a. More expensive for Japanese customer b. Less expensive for Japanese customers c. Neither more or less expensive for importers d. None of the above