Refer to the table shown.BotswanaZimbabweGoldNickelGoldNickel030009060200186012010036301800540In this example:
A. there are no possible gains from trade.
B. there are gains from trade for Zimbabwe.
C. there are gains from trade for both countries.
D. there are gains from trade for Botswana.
Answer: A
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Generally, managed care means
A. health care is provided by teams, not by an individual doctor. B. limits are placed on utilization of health care services. C. health care is provided by the government to all citizens. D. doctors pick which patients they want to see.
If goods X and Y are such that the cross price elasticity between them is negative, and if the income elasticity of X is negative, then these goods are:
a. inferior complements. b. luxury complements. c. income elastic substitutes. d. normal substitutes. e. income elastic complements.
Last year an economy produced 2400 apples, 3000 pears and 2500 oranges. The price of apples was €0.50, the price of pears was €0.60 and the price of oranges was €0.50. Nominal GDP was:
(a) € 5200; (b) € 6600; (c) € 4250; (d) Cannot be computed.
Suppose the actual and expected price levels in an economy are initially equal. However, the actual price level falls eventually due to a change in economic conditions. Which of the following will occur in the long run?
What will be an ideal response?