The table below shows the export and import values of automobiles, pharmaceuticals, and clothing in Country A and Country B. Country AExports ($Billions)Imports ($Billions)Automobiles2040Pharmaceuticals3030Clothing400Country BExports ($Billions)Imports ($Billions)Automobiles020Pharmaceuticals4040Clothing4535 In Country B, the product with the highest intra-industry trade (IIT) share is ________ and the product with the lowest IIT share is
A. clothing; pharmaceuticals.
B. automobiles; pharmaceuticals.
C. pharmaceuticals; automobiles.
D. clothing; automobiles.
Answer: C
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The decision to go to graduate school is a rational one for a college student if the
A) cost is not too great. B) marginal cost exceeds the marginal benefit of graduate school. C) marginal benefit of graduate school exceeds the marginal cost. D) opportunity cost of graduate school equals zero. E) student carefully compared the social benefits of this decision.
Savers have less incentive to care what their bank is doing with their money because their deposits are federally insured. This is a problem of
a. nominal interest b. adverse selection c. moral hazard d. the winner's curse e. a positive externality
A system in which people trade goods they don't want to consume for goods they do want to consume is called
A. a commodity money system. B. a fiat money system. C. an indirect exchange economy. D. a barter system.
The marginal product of new capital depends on ________ and ________.
A. productivity of capital; relative price of the firm's output B. relative price of the firm's output; real interest rate C. productivity of new capital; real interest rate D. price of new capital goods; real interest rate