Refer to the table above. If the world price of trousers is $5 per pair, then which of the following statements is true?
A) All the four countries will import trousers.
B) All the four countries will export trousers.
C) Country A and Country D will export trousers, whereas Country B and Country C will import trousers.
D) Country B and Country C will export trousers, whereas Country A and Country D will import trousers.
A
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?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.1 shows how much of each good Jesse and April can paint in one hour. April's opportunity cost of painting one kite is painting:
A. 1/12 of a snowboard. B. 1/4 of a snowboard. C. 3 snowboards. D. 4 snowboards.
Antidumping duties cannot be levied when the harm to domestic industries is very small
Indicate whether the statement is true or false
Increases in capital per worker ________ because ________
A) increase real GDP; they create a movement downward along the productivity curve B) increase real GDP; they create a movement upward along the productivity curve C) increase real GDP; they shift the productivity curve upward D) increase real GDP; they shift the productivity curve downward E) may increase or decrease real GDP; the result is a movement along the productivity curve but the direction depends on other factors not given
A perfectly competitive firm and a monopolistically competitive firm are similar in each of the following respects except
a. each has many buyers and sellers. b. firms sell homogeneous products in both markets. c. in having perfect information. d. for freedom of exit and entry.