Maximum Feasible Hourly Production Rates of EitherCuckoo Clocks or Movies Using All Available ResourcesProductUnited StatesSwitzerlandCuckoo Clocks42Movies104Refer to the above table. If opportunity costs are constant, residents of the United States will gain from specializing and trading with Switzerland if they
A. produce both clocks and films and export clocks to Switzerland.
B. import clocks and export films.
C. produce both clocks and films and export both to Switzerland.
D. import films and export clocks to Switzerland.
Answer: B
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Mercantilism followed feudalism. Unlike feudalism, mercantilism did not support any form of a strong central government or system of nation states
Indicate whether the statement is true or false
Figure36-9
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In Figure 36-9, the C + I + G + (X? IM)1 line is flatter than the C + I + G + (X? IM)0 line because the
A. (X? IM)1 line indicates that net exports decline as GDP rises. B. (X? IM)1 line indicates that net exports rise as GDP rises. C. multiplier is greater for the (X? IM)1 line. D. (X? IM)1 line indicates that tariffs, quotas, and other trade barriers are keeping net exports below their full potential.
With a tax of $12, hours of work become
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Producers:
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