International trade occurs because the opportunity cost of producing specific goods differs across:?
a. firms
b. individuals
c. regions of the U.S.
d. countries
e. households
Ans: d. countries
You might also like to view...
A tax on suppliers will cause the ________ schedule to shift ________.
A. supply, right B. demand, right C. demand, left D. supply, left
How is money market equilibrium determined in the short run?
What will be an ideal response?
The trade-off between risk and expected value is exactly the kind of choice you have to make whenever you think about investing money in:
A. stocks. B. retirement funds. C. bonds. D. One needs to think about the trade-off to invest in all these things.
Physical capital differs from raw materials in the sense that raw materials
a. have a longer useful life in production b. are considered human capital c. cannot be used to produce goods and services d. are used up in production e. are not a resource used in production