Benefits from international trade are based on the following differences, except:
A. In resource endowments
B. In technological capabilities
C. In product quality and other attributes
D. In income levels
D. In income levels
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Describe the effect of the loss of biodiversity on productivity and health
What will be an ideal response?
Explain the law of one price and the theory of purchasing power parity. Why doesn't purchasing power parity explain all exchange rate movements in the short run? What factors determine long-run exchange rates?
What will be an ideal response?
During the postbellum period of U.S. history,
(a) the U.S. balance of payments experienced a deficit throughout the entire period. (b) manufacturing exports became the top foreign exchange earner. (c) cotton exports continued to be the top foreign exchange earner. (d) the U.S. never borrowed from foreigners.
If incomes in the United States increase, other things equal, then U.S. _____
a. imports increase and exports remain constant b. exports increase and imports decrease c. imports decrease and exports decrease d. imports remain constant and exports increase e. net exports remains constant