Alternative Outputs from One Day of Labor Wheat (in bushels) Textiles (in yards) United States 12 3 Great Britain 3 12 According to the table above, the United States
a. has an absolute advantage over Great Britain in the production of textiles.
b. has an absolute advantage over Great Britain in the production of wheat.
c. has a comparative advantage in the production of textiles.
d. should export textiles to Great Britain.
e. none of the above
b. has an absolute advantage over Great Britain in the production of wheat.
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The American manufacturers of Pet milk unknowingly introduced their product in French-speaking markets without realizing that the word pet in French means "to break wind." Likewise, the English-speaking representative of a U.S. soft-drink manufacturer naively drew laughs from Mexican customers when she offered free samples of Fresca soda pop, because in Mexican slang the word fresca means "lesbian." These are examples of ________.
A graph shows that as fees to use ATM machines increase, people use them less frequently. The graph of this relationship would show
A) an inverse relationship. B) a negative relationship. C) a direct relationship. D) Both answers A and B are correct.
A fall in inventories is synonymous with ________ investment
A) negative fixed B) positive fixed C) positive inventory D) negative inventory
If consumption is $8 billion, investments is $4 billion, government purchases are $2 billion, imports are $1 billion, and exports are $2 billion, GDP must equal:
A. $16 billion. B. $17 billion. C. $15 billion. D. $14 billion.