According to this Application, what was the approximate value of Wal-Mart's value added in 2014?
A) $115 billion B) $286 billion C) $374 billion D) $661 billion
A
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If Italy can produce grapes at a lower opportunity cost than any other nation, Italy is said to have a(n) ________ in the production of grapes
A) comparative disadvantage B) autarky C) comparative advantage D) absolute advantage
Refer to the above figure. Profits for this firm are negative
A) only for all points less than B. B) only at points B and C. C) for points between B and C. D) for all points less than B and greater than C.
Refer to Figure 36.3 for the dollar-Swiss franc foreign exchange market. Which of the following is true?
A. An increase in supply from S1 to S2 could be caused by an increase in Swiss demand for U.S. corn. B. An increase in supply from S1 to S2 could be caused by an increase in the U.S. demand for Swiss chocolate. C. The Swiss franc appreciates in value compared to the U.S. dollar when supply decreases from S2 to S1. D. The U.S. dollar appreciates in value compared to the franc when supply increases from S1 to S2.
Suppose the market for shoes consists of three consumers. The accompanying table shows the quantity demanded at various prices for each consumer:PricePer PairPairs Demandedby PatPairs Demandedby LeighPairs Demandedby Chris$100010$75031$50173$302105 What is the market demand for shoes when the price is $50 a pair?
A. 15 pairs B. It will depend on the quantity supplied when the price is $50 a pair. C. 7 pairs D. 11 pairs