If the U.S. has a comparative advantage in almonds relative to Japan, we would expect that
A. the U.S. would export almonds to Japan and Japan would export almonds to the U.S.
B. Japan would export almonds to the United States.
C. the U.S. would export almonds to Japan.
D. None of these situations would take place.
C. the U.S. would export almonds to Japan.
You might also like to view...
Suppose that the quantity of cars supplied exceeds the quantity of cars demanded. We would expect that
A) the price of cars will increase. B) the price of cars will decrease. C) the supply will increase (supply will shift to the right) to meet the demand. D) the demand will decrease (demand will shift to the left) to meet the supply.
"As the price of gasoline increases, fewer people buy cars that are gas guzzlers." A graph showing this relationship would
A) have a positive relationshi
Microeconomics is the branch of economics that concerns
a. the overall health of the economy b. the behavior of individual households, firms, and governments c. the overall level of trade between nations d. local governments only e. the general level of output
A fluctuating rate of inflation
a. will cause a downturn in the housing sector b. redistributes income from creditors to debtors c. redistributes income from the employed to the unemployed d. was the problem that originally led to the creation of the Federal Reserve System e. interferes with long-run planning