One reason why nations trade is because
a. trading provides opportunities to earn profits.
b. the rate of interest is not the same in all countries.
c. resources are not equally distributed to all nations.
d. some nations like to build one thing while others like to build another.
c
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Tallulah is a German citizen who works for Volkswagen located in Fresno, California. Tallulah's work contributes to:
A. German GDP, but not U.S. GDP. B. U.S. GNP, but not U.S. GDP. C. U.S. GDP, but not U.S. GNP. D. German GDP and U.S. GNP.
The marginal benefit to you of drinking one more bottled iced tea is $1.50 . The price of a bottle of iced tea is $1.25. a. If you purchase iced tea you will suffer a net loss of 25 cents per bottle
b. If you purchase a bottle of iced tea, the net gain to you from doing so is 25 cents. c. You will not purchase iced tea if you are acting rationally. d. If you are acting rationally, you will purchase iced tea until the marginal benefit falls to 25 cents.
If the price level in the United States decreases, domestic goods will become relatively cheaper than foreign goods, the demand for U.S.-made goods will increase, and the U.S. aggregate demand curve will shift to the right
a. True b. False Indicate whether the statement is true or false
The best number of workers for any employer to hire is that quantity in which:
A. the marginal revenue product equals the marginal factor cost. B. the marginal revenue product exceeds the marginal factor cost. C. total costs are minimized. D. total revenue is maximized.