Refer to Table 2-5. If the two countries specialize and trade, who should export lumber?
A) They should both be exporting lumber.
B) Finland
C) There is no basis for trade between the two countries.
D) Estonia
D
You might also like to view...
In the above figure, if the economy is at point a, an increase in ________ will move the economy to ________
A) real wealth from the fall in the price level; point b B) real wealth from the fall in the price level; point c C) expected future income; point c D) expected future income; point d
Refer to Figure 2-10. If the economy is currently producing at point A, what is the opportunity cost of moving to point B?
A) 46 thousand forks B) 60 thousand spoons C) 16 thousand spoons D) 12 thousand forks
If the Mexican peso (MXN) to Brazilian real (BRL) exchange rate goes from 5.9 MXN/BRL to 5.2 MXN/BRL
A) Brazilians decrease their demand for Mexican goods. B) Brazilians increase their demand for Mexican goods. C) Mexicans decrease their demand for Brazilian goods. D) Not enough information to determine what happens.
A concentration ratio refers to the
a. ranking of firms by profitability b. percentage of sales accounted for by the leading firms in an industry c. percentage of sales accounted for by the largest firm in an industry d. ability of a firm to control market price e. percentage of profit accounted for by the largest firm in an industry