Technological improvements cause
A. The supply curve to shift to the left.
B. ATC to shift down.
C. P to increase.
D. MC to shift up.
Answer: B
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The Heckscher-Ohlin model is an alternative to the classical theory of international trade that focuses on the factors of production that countries possess
Indicate whether the statement is true or false
Money exchanges are more efficient than barter because:
a. money exchanges do not require a double coincidence of wants. b. the government guarantees the value of money. c. money usually has an intrinsic value. d. money is backed by a physical commodity. e. opportunity costs are higher with barter trades.
Which of the following shifts both the short-run and long-run aggregate supply right?
a. an increase in the actual price level b. an increase in the expected price level c. an increase in the capital stock d. None of the above is correct.
Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.
Figure 33.4Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, tariff revenue in this country will be
A. $50. B. $250. C. $500. D. $750.