Use the following table to answer the question below. Dave's Production Possibilities SchedulePounds of Green BeansPounds of Corn0160201204080604080 0If Dave produces 40 pounds of green beans, he can produce ________ pounds of corn.
A. 80
B. 0
C. 160
D. 120
Answer: A
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What will be an ideal response?
Refer to Table 9-2. Select the statement that accurately interprets the data in the table
A) Gabriel has a comparative advantage in baking pies and baking cakes. B) Gabriel has an absolute advantage in baking cakes. C) Gabriel has a comparative advantage in baking pies. D) Sarita has a comparative advantage in baking pies.
If real interest rates in the United States rise relative to real interest rates in other countries, other things being equal, a. the exchange value of the dollar would decline relative to other currencies
b. the exchange value of the dollar would increase relative to other currencies. c. there would likely be no effect on the exchange value of the dollar relative to other currencies. d. there would be an indeterminate effect on the exchange value of the dollar relative to other currencies.
When the monopoly firm is able to charge a higher price, the amount of ________ also increases, thus magnifying the importing nation's __________.
a. quota rents; losses b. comparative advantage; gains from trade c. profits; welfare d. protection; employment gains