Daily Output of Russia and Panama?RussiaPanamaGloves 40240Hats120180
Refer to Table 18.1. Russia has a comparative advantage in:
A. hats.
B. gloves.
C. both hats and gloves.
D. neither hats nor gloves.
Answer: A
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Critics of the extreme rational expectations theory argue that wages and input prices do not adjust instantaneously
a. True b. False Indicate whether the statement is true or false
The payments made to shareholders from a firm's profits are called
a. owner subsidies b. principal c. coupon payments d. retained earnings e. dividends
Piece rates are typically a solution to the:
A. manager-owner, principal-agent problem. B. owner-worker, principal-agent problem. C. manager-worker, principal-agent problem. D. None of the statements is correct.
A Nash equilibrium with a noncredible threat as a component is:
A. not a perfect equilibrium. B. a somewhat perfect equilibrium. C. a sequential equilibrium. D. a perfect equilibrium.