Based on Table 3.1, if the world price of computers is four pairs of shoes, then the optimal strategy for each country would be
A) to specialize in shoes.
B) to specialize in computers.
C) for Mexico to specialize in shoes, and the United States in computers.
D) for the United States to specialize in shoes, and Mexico in computers.
E) None of the above.
B
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The figure above shows the market for iPods. Which of the following creates a movement from point A to point B?
A) a decrease in the price of Zunes, a substitute for iPods B) a requirement that all students at universities have an iPod C) a decrease in the price of iPods D) an increase in the price of iPods E) an increase in people's incomes
A homeowner’s roof is damaged during a hail storm, so the homeowner files a claim with his insurance company. The roof repair will cost $1,000. According to the insurance policy, the insurance company must pay 70% of the repair cost, and the homeowner must pay 30%. Which term describes this method of cost-sharing?
a. Copayment b. Coinsurance c. Deductible d. Fee-for-service
In the market for foreign-currency exchange, the source of the supply of dollars is _________. The supply curve is _________ because _____________
Fill in the blank(s) with correct word
Amanda is from Vermont and visiting California for the first time. At home, Amanda always goes jogging early in the morning because it's hottest in the early afternoon. Not knowing what to expect of the weather in California, she decides to go jogging in the early morning during her visit. This decision is an example of:
A. a heuristic. B. positive framing. C. loss aversion. D. status quo bias.