The straight-line production possibilities curve
A) does not show increasing opportunity costs.
B) fails to reflect tradeoffs.
C) fails to benefit trading nations.
D) refutes the principles of comparative advantage.
A
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Refer to the scenario above. Tom will receive ________ if he raises his right hand and Sam raises his left hand
A) 3 candy bars B) 0 candy bars C) 2 candy bars D) 1 candy bar
According to the information, Japan's real GDP per person
A) is higher than Brazil's and therefore we can definitely conclude that economic well-being is higher in Japan. B) is $33,000. C) is lower than Brazil's, but its real GDP is higher which makes standard of living higher in Japan. D) cannot be expected to change much given the other factors affecting GDP growth including political freedom and life expectancy.
As an exchange rate regime, target zones would be classified as
A) splitting the difference between fixed and flexible. B) a flexible exchange rate policy. C) a fixed exchange rate policy. D) a currency basket.
Refer to above Table 2-1. What is the level of Corporate Profits?
A) 260 B) 180 C) 270 D) 170