Given the information in the table above. If these two countries trade these two goods in the context of the Ricardian model of comparative advantage, then what is the lower limit of the world equilibrium price of widgets?
What will be an ideal response?
1/2 Cloths.
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M2 includes:
a. debit cards. b. credit cards. c. mutual insurance policies. d. money market mutual funds.
A dining table costs $3,000 in New York and same table costs 5000 euros in Rome. If absolute PPP holds, $1 is equal to
A) 1 euro B) 2 euros C) 5/3= 1.67 euros D) 3/5= 0.6 euros
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If six microwave ovens are produced, Micro Oven's total variable costs are
A. $100. B. $150. C. $300. D. $600.
Refer to the graph shown. With an effective price ceiling at Pc, the effect is an implicit tax on:
A. consumers of area D and a subsidy to suppliers of that area. B. suppliers of area C and a subsidy to consumers of that area. C. suppliers of area D and a subsidy to consumers of that area. D. consumers of area C and a subsidy to suppliers of that area.