An economy produces capital goods and consumer goods. This economy is operating at a point on its production possibility frontier associated with a large amount of capital goods and a small amount of consumer goods. This is most likely to be a
A. "poor" country because such a nation has difficulty devoting many resources to the production of consumer goods.
B. country with a free market.
C. country with a command economy.
D. "rich" country because such a nation can afford to sacrifice.
Answer: D
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A summary record of a country's international economic transactions in a given time period is the
A. Balance of payments. B. Exchange rate balance. C. Capital account. D. Current account.
For the six years following the passage of the North American Free Trade Agreement (NAFTA),
a. the U.S. economy had some of the slowest job growth and highest unemployment in its history. b. the U.S. economy had some of the most rapid job growth and low unemployment in its history. c. the U.S. economy had some of the most rapid job growth and modest unemployment in its history. d. the U.S. economy had some of the slowest job growth and modest unemployment in its history.
Oligopolists use advertising as a way of differentiating their products
a. True b. False Indicate whether the statement is true or false
Consider two individuals, Ozzy and Sharon, who produce toy boats and yoyos. Ozzy's and Sharon's hourly productivity are as follows:?Yoyos /hourToy boats /hourOzzy124Sharon105Who has the absolute advantage or comparative advantage in the production of yoyos or boats?
What will be an ideal response?