In the above figure, what is the quantity of workers that would be hired in a perfectly competitive market?
A) Q1
B) Q2
C) Q3
D) Q4
C
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Positive spending shocks lead to ________ real interest rates ________
A) higher; in both the short and long runs B) higher; in the short run but not in the long run C) lower; in both the short and long runs D) lower; in the short run but not in the long run
The product life cycle theory of comparative advantage predicts that a new product will first be produced and exported by:
a. the nation that was first to demand the new product. b. the first firm to successfully copy the technology. c. the nation in which it was invented. d. the countries with the most stable economy and fewest restrictions on foreign trade. e. the company with the most extensive network of international distributors for the product.
The Clayton Act prohibits “all contracts, combinations and conspiracies in restraint of trade.”
Answer the following statement true (T) or false (F)
Then in terms of production,
Suppose Canada can produce either 120 units of goods, 80 units of services, or any linear combination thereof. Mexico can produce 90 units of goods, 50 units of services, or any linear combination thereof. a) Mexico has an absolute advantage in producing goods b) Canada should produce both goods and services, but mostly goods c) neither country should produce services d) the opportunity cost of producing goods is higher in Canada than in Mexico e) Mexico is relatively more efficient at producing services than goods