When country X imports goods from country Y,
A. only country X benefits.
B. only country Y benefits.
C. both country X and country Y benefit.
D. neither country X nor country Y benefit.
C. both country X and country Y benefit.
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A baker can produce two products: cupcakes and pies. The table below is the baker's production possibilities schedule:Production Possibilities ScheduleProductABCDEFCupcakes01220365681Pies1086420A change from combination C to B means that
A. 8 cupcakes were given up to make 2 pies. B. 2 pies were given up to make 20 cupcakes. C. 8 cupcakes were given up to make 1 pie. D. 6 pies were given up to make 20 cupcakes.
As a shoe factory adds more workers, shoe production grows, reaches a maximum, and then shrinks
In a diagram that has the number of workers on the horizontal axis and the number of shoes on the vertical axis, the relationship between the number of workers and the number of shoes starts as ________ and then, after the maximum point, is ________. A) negative; positive B) positive; linear C) positive; negative D) positive; nonexistent E) linear; negative
The meaning of "terms of trade" is
A) the price of a country's exports divided by the price of its imports. B) the amount of exports sold by a country. C) the price conditions bargained for in international markets. D) the quantities of imports received in free trade. E) the tariffs in place between two trading countries.
According to the text, much of the increase in productivity that has occurred more recently in the fast food industry was the result of improvements in capital and technology
Indicate whether the statement is true or false