Brazil should
A. specialize in the production of coffee and import hot dogs from Colombia.
B. specialize in the production of hot dogs and import coffee from Colombia.
C. import both coffee and hot dogs from Colombia.
D. not engage in trade with Colombia, but produce both coffee and hot dogs domestically.
A. specialize in the production of coffee and import hot dogs from Colombia.
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The demand for computer chips is a downward sloping straight line. If there is an increase in the supply of computer chips, this change will
A) increase the price elasticity of demand for computer chips. B) decrease the price elasticity of demand for computer chips. C) have no effect on the price elasticity of demand for computer chips. D) have an unpredictable effect on the price elasticity of demand for computer chips.
Industry Y is a perfectly competitive industry. Assume that as a result of changes in other markets there is a twenty percent increase in the price of variable inputs used by firms in industry Y
After all adjustments have taken place, we would expect the equilibrium price in industry Y to: A) decrease and the number of firms to increase. B) decrease and the number of firms to decrease. C) increase and the number of firms to increase. D) increase and the number of firms to decrease.
The most far-reaching aspect of globalization in the past two decades has been in
a. financial flows. b. export levels. c. import levels. d. human rights advances.
In the United States in 2016, the health care industry was the largest employer in ________ states
A) 7 B) 27 C) 35 D) 48