If Argentina has a large amount of farmland and Great Britain has many factories,
a. the two nations have no reason to trade.
b. Argentina will be willing to trade but Great Britain will not.
c. Great Britain will be willing to trade but Argentina will not.
d. the two nations will probably engage in mutually advantageous trade.
d
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Solow's growth model improved upon the Harrod-Domar results by
a. incorporating technological change into the model b. making a economic growth a reasonable outcome rather than one dictated by specialcircumstances c. assuming that GDP would fluctuate, rather than grow steadily d. removing investment from the model e. none of the above
Relative to the United States, Europe has
A) higher unemployment. B) slower job growth. C) higher real wage growth. D) A and B. E) all of the above.
The global capital market is very competitive and efficient
Indicate whether the statement is true or false
In Figure 9-13, assume the initial equilibrium at point A is disturbed by an increase in demand. If long-run equilibrium is established at point C, this is a(n)
a.
constant cost industry
b.
increasing-cost industry
c.
decreasing-cost industry