Refer to the information provided in Table 20.2 below to answer the question(s) that follow.
Table 20.2
Refer to Table 20.2. Which terms of trade benefits both countries?
A. 1 motorcycle for 10 tractors
B. 1 tractor for 10 motorcycles
C. 1 motorcycle for 1/5 of a tractor
D. 1 tractor for 12.5 motorcycles
Answer: D
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A stockholder ________ an owner of the firm, and a bondholder ________ an owner of the firm
A) might be; is not B) is; is not C) is not; is D) is not; is not E) is; is
If a perfectly competitive firm with a known demand and random marginal cost is producing at a level in which the marginal cost is less than the expected marginal cost and the marginal revenue, which of the following is true?
A) To maximize expected profit, the firm should decrease production. B) To maximize expected profit, the firm should decrease production by one -half. C) The firm is maximizing expected profit. D) To maximize expected profit, the firm should increase production.
Expenditures for services such as tourism, income for foreign investment, and foreign gifts are tabulated in the:
a. official reserve account. b. current account. c. capital account. d. goods account.
In 1986, OPEC countries increased their production of oil. This caused
a. the price level to rise. b. aggregate supply to shift right. c. unemployment to rise. d. None of the above is correct.