According to the above table, which assumes that opportunity costs of producing goods X and Y are constant, Sherry has comparative advantage in production of
A. Good X.
B. Good Y.
C. both goods.
D. neither good.
Answer: A
You might also like to view...
A monopoly creates a deadweight loss because the monopoly
A) sets a price that is too low. B) makes a normal profit. C) does not maximize profit. D) produces less than the efficient quantity. E) produces more than the efficient quantity.
Deflation causes the demand for bonds to ________, the supply of bonds to ________, and bond prices to ________, everything else held constant
A) increase; increase; increase B) increase; decrease; increase C) decrease; increase; increase D) decrease; decrease; increase
Sellers who were originally willing to supply 400 units of a good at $4 per unit are now willing to supply 800 units at $4 per unit. That change would be described as: a. an increase in supply
b. a decrease in supply. c. an increase in quantity supplied. d. a decrease in quantity supplied.
If the short-run Phillips curve has a very flat slope, the
a. structural deficit will grow during inflation. b. structural deficit will fall during recession. c. inflation costs of reducing unemployment are relatively low. d. inflation costs of reducing unemployment are relatively high.