If England uses one week’s time to produce 10 yards of cloth or 2 barrels of wine and Portugal uses one week’s time to produce 12 yards of cloth or 6 barrels of wine, England has the comparative advantage in both goods.
Answer the following statement true (T) or false (F)
False
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One reason why African elephants are endangered is _____
a. the low cost of hunting exhibitions b. exploitation by zoo owners c. many natural predators d. governments often prohibit private ownership
When price level in the United States rises,
A. there is a increased demand for borrowed money. B. producers' demand for new machinery increases, contributing to an increase in aggregate demand. C. Americans tend to buy more foreign goods and services. D. the French, Canadians, and Japanese would find our exports more attractive.
Which of the following would shift the supply curve for MP3 players to the left?
A) an increase in the price of an input used to produce MP3 players B) a decrease in consumer tastes for MP3 players C) an increase in the number of firms that produce MP3 players D) an increase in the productivity of the workers who produce MP3 players
Differentiate between taste-based discrimination and statistical discrimination
What will be an ideal response?