Which industry was first covered by a free trade agreement between Canada and the United States?
What will be an ideal response?
Automobiles
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If the interest rate on a 2-year security was higher than the average expected interest rate on consecutive 1-year securities, people would be indifferent as to which security they held.
Answer the following statement true (T) or false (F)
Refer to the figure above. Which of the following statements is true?
A) Ryan has a comparative advantage in the production of Good 1, whereas Tom has a comparative advantage in the production of Good 2. B) Ryan has a comparative advantage in the production of Good 2, whereas Tom has a comparative advantage in the production of Good 1. C) Ryan has a comparative advantage in the production of both the goods. D) Tom has a comparative advantage in the production of both the goods.
Refer to the graph shown. Demand is unit elastic when revenue is:
A. $4,000. B. $10,000. C. $6,000. D. $8,000.
If the demand curve is more elastic than the supply curve, then:
A. the buyers will bear a greater tax incidence than sellers. B. the sellers will bear a greater tax incidence than buyers. C. tax incidence will be shared equally by buyer and seller. D. None of these is true.