You are the Minister of Trade for a small island country with the following annual PPC:
You are negotiating a trade agreement with a neighboring island with the following annual PPC:
What's the minimum number of fish you would be willing to accept in exchange for a coconut?
A. 4
B. 3
C. 5
D. 2
Answer: B
You might also like to view...
When a supplier imposes resale price maintenance on its dealers, social gain will increase as long as
a. the supplier chooses to charge a competitive price for its product. b. the value consumers receive from dealer services outweighs their cost. c. dealers are allowed to charge consumers less than the supplier's recommended retail price. d. dealers are able to enter and exit the industry costlessly.
If the price of videotapes decreases, then the _____
a. marginal utility of videotapes will decrease b. marginal utility of videotapes will increase c. marginal utility per dollar of videotapes will decrease d. marginal utility per dollar of videotapes will increase e. total utility of videotapes will increase
Marginal utility (MU) equals
a. ?P/?Q b. ?Q/?TU c. ?PQ/?TU d. ?TU/?P e. ?TU/?Q
The overall volume of daily currency trade was __ in 2007.
a. $3.2 billion b. $32 billion c. $320 trillion d. $320 billion