Which of the following can be a source of comparative advantage?
A) Prices of finished goods
B) The demand for goods in the global market
C) Climatic conditions
D) The demand for the goods in the domestic market
C
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Which of the following statements is true about the Canadian health care system?
a. Many Canadians travel to the U.S. in order to receive expensive treatments. b. Canadians have the option of purchasing private health insurance if they can afford it. c. Canadian physicians are salaries employees of the provincial health plans. d. Canadian hospitals have significant excess capacity that is used to treat patients from foreign countries. e. Canadian physicians are allowed to "balance bill" patients for certain high-cost procedures.
Some demand curves have constant elasticity everywhere
a. True b. False
Which of the following is likely to yield the greatest consumer surplus?
a. a nugget of gold found in a rushing creek in Alaska b. a gold necklace on sale at 20 percent off original price c. a gold necklace on sale at 40 percent off original price d. a dip in the neighbor's pool, at no charge e. a gulp of water from an oasis in the Sahara desert after three days of thirst
If U.S. buyers purchased $500 billion of foreign goods and foreign buyers purchased $400 billion of U.S. goods, the U.S. balance of trade would be:
A. ?$100 billion. B. $100 billion. C. $400 billion. D. -$500 billion.