It is ____ that in international trade, when one country gains, another loses; it is ___ that to assure prosperity for its citizens, a nation should do all it can to promote exports and keep out imports.
A. true; true
B. false; false
C. false; true
D. true; false
B. false; false
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Refer to Table 2-11. What is China's opportunity cost of producing one pound of wheat?
A) 0.04 units of a digital camera B) 4 digital cameras C) 25 digital cameras D) 40 digital cameras
The slope of a vertical line is
a. infinitely large b. zero c. positive d. negative e. infinitely small
Jack is selling his sweaters for the market price of $40. His average variable costs are $50. In this situation, Jack should do which of the following?
a. Shut down and only lose his fixed cost. b. Shut down and lose his fixed and variable cost. c. Shut down and only lose his variable cost. d. Keep producing and lose some of his variable cost.
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the GDP Price Index and reserves account in the context of the Three-Sector-Model? a. The GDP Price Index falls and reserves
account becomes more negative (or less positive). b. The GDP Price Index falls and reserves account remains the same. c. The GDP Price Index and reserves account remain the same. d. The GDP Price Index rises and reserves account remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.