The fact that the United States exports Budweiser beer and imports Heineken beer can be explained by:
a. the differences in labor productivity in the U.S. and other countries.
b. the differences in factor endowments in the U.S. and its trading partners.
c. the fact that the world price of Budweiser beer is lower than Heineken beer.
d. the fact that production of Budweiser beer in the U.S. is inadequate compared to its demand.
e. the preference for foreign brands of beer by a part of the U.S. population.
e
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Refer to Figure 26-1. In the figure above, the money demand curve would move from Money demand1 to Money demand2 if
A) the interest rate decreased. B) real GDP decreased. C) the price level increased. D) the Federal Reserve sold Treasury securities.
Even though government-operated firms do not have to make a profit, they usually operate efficiently
Indicate whether the statement is true or false
Which of the following cost relationships is not true?
A) AFC = AC - MC B) TVC = TC - TFC C) The change in TVC/the change in Q = MC D) The change in TC/ the change in Q = MC
The variable cost of zero units of output is equal to
A. zero. B. total cost. C. total fixed cost. D. one.