Suppose that Captain Canada can produce 100 hockey sticks or 10 gallons of maple syrup in a typical work week, while Captain Germany can produce 90 hockey sticks or 10 gallons of maple syrup in a typical work week. From these numbers, we can conclude
a. Captain Canada has a comparative advantage in the production of hockey sticks.
b. Captain Germany has a comparative advantage in the production of maple syrup.
c. Captain Canada has an absolute advantage in the production of hockey sticks.
d. All of the above conclusions are correct.
d
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The optimal output of a collective consumption good is found by_____
a. equaling marginal cost and the vertical summation of all individual's demand curves b. equaling price and marginal cost c. equaling marginal cost and the horizontal summation of all individual's demand curves d. equaling marginal cost and long-run average total cost
Which of the following statements is most accurate about immigration in the 20th century?
a. The largest numbers of immigrants were during the "boom decades" like the 1920s, 1960s, and 1990s. b. The number of immigrants decreased from 1900 until the Great Depression, increased consistently between 1940 and 2000, and is now about the same as it was in 1900. c. Immigration was greatest during World War I and World War II as many people from around the world fled to the United States for safety. d. Immigration has decreased dramatically in the last 30 years as the federal government instituted more restrictions and cracked down on illegal immigration.
Ford opens a parts manufacturing plant in Haiti, which ships its parts back to the U.S. to be assembled in Detroit. Running the factory in Haiti is an example of:
A. foreign direct investment. B. foreign portfolio investment. C. importing. D. exporting. B. foreign portfolio investment. C. importing. D. exporting.
Which measure of money would we most likely use if we were interested in looking at spending in the economy?
A. M2 B. M1 C. Hard money D. Reserves.