The United States can gain from international trade if
A. it imports goods for which it is a high-opportunity cost producer and exports those for which it is a low-opportunity cost producer.
B. the dollar appreciates in value.
C. the dollar is overvalued in the currency market.
A. it imports goods for which it is a high-opportunity cost producer and exports those for which it is a low-opportunity cost producer.
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The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, the efficient level of output could be achieved by setting a per ton tax of
A) zero. B) $30. C) $80. D) $110.
Implementation of the National Industrial Recovery Act (1933) positively impacted overall industrial production
Indicate whether the statement is true or false
What is the "Hotelling rule" for situations in which a producer can determine when a good is sold?
A) Price must rise at exactly the rate of interest. B) Marginal cost must rise at exactly the rate of interest. C) Price minus marginal cost must rise at exactly the rate of interest. D) Price plus marginal cost must rise at exactly the rate of interest. E) Price and marginal cost must be independent of the rate of interest.
Tariff accounts for 32% of the total government revenue in the U.K. and only 1.2% in India
a. True b. False Indicate whether the statement is true or false