Suppose that Brazil is capital abundant and Chile is natural resource abundant. If timber is natural resource intensive and computers are capital intensive, then
A) Chile will produce more computers after trade begins with Brazil.
B) Brazil will produce more timber after trade begins with Chile.
C) Chile will produce more timber after trade begins with Brazil.
D) Brazil will completely specialize in computers once trade begins with Chile.
C
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In country X, the average yearly salary of 50-year-olds with 16 years of education is $50,275, while the average yearly salary of 50-year-olds with 12 years of education is $36,265
According to this data, four additional years of education are likely to be correlated with higher future wages of about: A) 24 percent. B) 38 percent. C) 50 percent. D) 88 percent.
Refer to Figure 9-3. What is the value of domestic producer surplus after the imposition of a quota?
A) $10.75 million B) $15.75 million C) $17.25 million D) $27.75 million
Given the path of natural real GDP growth, economists prefer an economy such as ________, in which the real GDP gaps are ________
A) Stabilia's, minimized B) Stabilia's, maximized C) Volatilia's, minimized D) Volatilia's, maximized
A recent medical study reports new benefits of cycling. Simultaneously, the price of the parts needed to make bikes falls. The demand curve would _________ and the supply curve would__________
a. Shift to the right, shift to the left b. shift to the left, shift to the right c. shift to the left, shift to the left d. shift to the right, shift to the right