Mpc + mps =
A) 0. B) 0.5. C) 1. D) 100.
C
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Refer to Figure 2-2. The linear production possibilities frontier in the figure indicates that
A) it is progressively more expensive to produce meat. B) Mendonca has a comparative disadvantage in the production of meat. C) the tradeoff between meat and vegetables is constant. D) Mendonca has a comparative advantage in the production of vegetables.
What conditions might be required for an import-substitution policy to be effective? What advantages might it bring?
What will be an ideal response?
The main explanation for why the cheap foreign labor argument is a poor reason for restricting international trade is that:
A. workers who get paid less tend to have lower productivity than those who get paid more. B. all firms and workers gain when there are no restrictions on international trade. C. infant industries such as steel and automobiles need to be protected. D. specialization and free trade usually raise the prices of all the traded goods, so that the workers can get paid more.
Discuss a situation in which a government loan guarantee may be socially beneficial
Please provide the best answer for the statement.