Portugal has an absolute advantage in which product?
wine
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Refer to the information provided in Table 20.4 below to answer the question(s) that follow. Table 20.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60 Refer to Table 20.4. In Chile, the opportunity cost of 1 case of beer is
A. 1/2 case of wine. B. 1 case of wine. C. 2 cases of wine. D. 4 cases of wine.
If a bank receives a $1 million discount loan from the Federal Reserve, then the bank's reserves will
A) not change. B) increase by $1 million. C) increase by less than $1 million. D) increase by more than $1 million.
Carolina Baby Inc produces and sells dresses for kids in a perfectly competitive market. Which of the following will be the firm's profit-maximizing outcome?
a. The firm earns a marginal revenue of $20 if it produces 600 dresses at a marginal cost of $15. b. The firm earns a marginal revenue of $20 if it produces 700 dresses at a marginal cost of $20. c. The firm earns a marginal revenue of $20 if it produces 800 dresses at a marginal cost of $24. d. The firm earns a marginal revenue of $20 if it produces 900 dresses at a marginal cost of $27.
When the price level in the United States rises, then net exports should
A. rise and equilibrium real GDP should increase. B. fall and equilibrium real GDP should increase. C. fall and equilibrium real GDP should decrease. D. rise and equilibrium real GDP should decrease.