To justify restricting trade, the less-developed countries have more reason to use this argument than industrially advanced countries
a. retaliation
b. national security
c. cheap foreign labor
d. infant industries
e. unionized foreign labor
D
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All else equal, it is more likely for a case to be settled the ________ the plaintiff's assessment of the expected (received) payment and the ________ the total cost of litigation.
A) smaller; smaller B) larger; smaller C) larger; larger D) smaller; larger
If the cross elasticity of demand between coffee and tea is positive, an increase in the price of tea will shift the demand curve for
A) tea rightward. B) tea leftward. C) coffee rightward. D) coffee leftward.
Barney Oats Co produces 5 varieties of flavored oats. A market survey done by the company revealed that its competitor Sloan co. had a larger share in the market. It was found out that Barney's share of output was one-tenth that of Sloan Co Immediately
afterward, the CEO of Barney Oats decided to reduce the number of flavors and reassign tasks to workers based on their skills. Will the manager's decision increase the output of Barney Oats? Give reasons to support your answer.
The ability of a country to produce a specific good at a lower opportunity cost than its trading partners is known as
A. The human advantage. B. Absolute advantage. C. The inequality trap. D. Comparative advantage.