Refer to Figure 2-5. If the economy is currently producing at point X, what is the opportunity cost of moving to point W?
A) 19 million tons of steel B) 5 million tons of paper
C) 9 million tons of paper D) 3 million tons of steel
D
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The law of one price holds exactly only if there are transactions costs associated with buying a product in one location and selling it in another location
Indicate whether the statement is true or false
If you sell a $100,000 interest-rate futures contract for 105, and the price of the Treasury securities on the expiration date is 108, your ________ is ________
A) profit; $3000 B) loss; $3000 C) profit; $8000 D) loss; $8000
In international trade, all payments and gifts that are related to the purchase or sale of both goods and services are referred to as the
A) current account. B) financial account. C) labor account. D) official reserve transactions account.
Dumping refers to a country selling its exports at a price lower than its selling price at home.
Answer the following statement true (T) or false (F)