Refer to Table 7-6. Which country has a comparative advantage in producing swords?
A) Estonia B) Morocco C) both countries D) neither country
A
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People like consuming peanut butter and jelly together. The price of peanuts increases. At the same time, we see the price for Jelly rise. How does this affect the market for peanut butter?
a. The demand curve will shift to the left; the supply curve will shift to the left b. The demand curve will shift to the left; the supply curve will shift to the right c. The demand curve will shift to the right; the supply curve will shift to the left d. The demand curve will shift to the right; the supply curve will shift to the right
A die is rolled. The individual rolling the die will receive the number that lands in dollars (i.e. if it lands 1, they receive $1, if it lands two, they receive $2, etc). The expected value of the die roll is
a. $1.00 b. $2.25 c. $3.50 d. $6.00
What is used to illustrate an independent relationship between two variables?
a. A horizontal or vertical line b. An upward-sloping curve c. A downward-sloping curve d. A hill-shaped curve
Which is the best example of an intangible good?
A) the car you dream of owning but cannot afford B) the suit you hope will make a good impression when you go on job interviews C) the textbook study guide you hope will prepare you to perform well on examinations D) the advice and expertise provided by the music store clerk who sold you that CD