One of the leading alternative theories to the HO model of international trade is the Human Skills theory, which was developed by
A) Donald Keesing.
B) Adam Smith.
C) David Ricardo.
D) G. D. A. MacDougall.
A
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When Sam's Scarves uses 2 knitting machines and employs 3 people, total revenue is $330 a day. When Sam's Scarves uses 2 knitting machines and employs 4 people, total revenue is $360 a day
The value of marginal product of the third worker is ________. A) $110 B) $30 C) $360 D) $90
If the price elasticity of demand for tea is unit elastic, a 10 percent increase in the price of tea results in:
a. a 12 percent decrease in the quantity demanded. b. a 12 percent increase in the quantity demanded. c. a 10 percent decrease in the quantity demanded. d. a 10 percent increase in the quantity demanded.
Between 2003 and 2004, nominal GDP grew by
The country of Old Jersey produced milk and butter, and it has published the following macroeconomic data, where quantities are in gallons and prices are dollars per gallon. A. 60.0% B. 65.5% C. 83.3% D. 190.0%.
In the context of the aggregate-demand curve, the interest-rate effect refers to the idea that, when the price level increases,
a. the real value of money decreases; in turn, the real value of the dollar increases in foreign exchange markets, which decreases net exports. b. the real value of money decreases; in turn, interest rates increase, which decreases net exports. c. households increase their holdings of money; in turn, interest rates decrease, which reduces spending on investment goods. d. households increase their holdings of money; in turn, interest rates increase, which reduces spending on investment goods.