Refer to Table 2-11. Does either China or South Korea have an absolute advantage and if so, in what product?

A) South Korea has an absolute advantage in both products.
B) South Korea only has an absolute advantage in wheat.
C) China only has an absolute advantage in digital cameras.
D) China only has an absolute advantage in wheat.


A

Economics

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If you go to Europe to work and send funds home to your family living in the United States, this is known as a

A) service import. B) merchandise import. C) service export. D) unilateral transfer.

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Short-term bonds are generally

a. less risky than long-term bonds and so they feature higher interest rates. b. less risky than long-term bonds and so they feature lower interest rates. c. more risky than long-term bonds and so they feature higher interest rates. d. more risky than long-term bonds and so they feature lower interest rates.

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The major trade group in South America involving Brazil, Paraguay, Uruguay, and Argentina is ________.

A) Mercosur B) UNASUR C) APEC D) CAN

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According to the quantity theory of money, if an economy produces 5,000 units of output, its money supply equals $40,000 and the velocity of money equals one, then the price level will equal:

A. $0.13. B. $1.25. C. $8. D. $200.

Economics