The Heckscher-Ohlin theorem explains why the U.S. both imports and exports cars.
Answer the following statement true (T) or false (F)
False
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The American Dairy Association starts a highly successful advertising campaign that makes most people want to drink more milk. As a result,
A) the demand for milk increases. B) the quantity demanded of milk increases. C) the price of milk falls to encourage people to drink more milk. D) the demand for milk is not affected. E) the demand for milk decreases because the price of milk rises.
Abe can catch 10 pounds of fish an hour or pick 10 pounds of fruit. Zeb can catch 30 pounds of fish an hour or pick 20 pounds of fruit
The opportunity cost of fish is ________ for Abe than for Zeb, and the opportunity cost of fruit is ________ for Abe than for Zeb. A) higher, lower B) lower, higher C) higher, higher D) lower, lower
The motivation for collective action is to do things that benefit society as a whole
a. True b. False
If the price of inputs falls and the level of consumer indebtedness rises:
a. Price index falls, and the change in real GDP is uncertain. b. The change in price index is uncertain, and real GDP rises. c. Price index rises, and the change in real GDP is uncertain. d. Price index falls, and real GDP rises. e. Price index falls, and real GDP falls.