In the United States, the class system is a:
A. triangle, and in most developing countries the class system is a diamond.
B. pentagon, and in most developing countries the class system is a diamond.
C. pentagon, and in most developing countries the class system is a triangle.
D. triangle, and in most developing countries the class system is a triangle.
Answer: C
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Refer to Table 9-9
a. Which country has an absolute advantage in the production of both light bulbs and flash drives? b. Which country has a comparative advantage in the production of light bulbs? c. Which country has a comparative advantage in the production of flash drives? Table 9-10 Pens Pencils Tran 40 160 Farah 50 150 Table 9-10 shows the output per week for pens and pencils by Tran and Farah.
The current account includes
A) the value of trade in merchandise. B) services. C) unilateral transfers. D) All of the above.
A key objective of the gold standard was to
A) create a flexible exchange rate system between countries. B) create a fixed exchange rate system between countries. C) allow nations to maintain their gold reserves. D) allow nations to tax its citizens in gold.
When can a grim trigger prevent oligopolists from breaking an agreement?