If the CPI was 68 in 1965 and is 285 today, then $100 today purchases the same amount of goods and services as
a. $23.86 purchased in 1965.
b. $32.47 purchased in 1965.
c. $68.00 purchased in 1965.
d. $419.12 purchased in 1965.
a
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Tests, using Leontief's methodology, to explain trade patterns of other countries
A) show that the Leontief Paradox holds only for the United States. B) show that paradoxical results obtain for some countries but not for others. C) show that the Leontief paradox holds in every case. D) have never been performed.
A joint venture allows a foreign firm to easier adjust to a new market and often meet various institutional requirements
Indicate whether the statement is true or false
Which of the following is not a correct statement about individual and group preferences?
a. Individuals have preferences b. Groups have preferences c. Individuals within groups have preferences d. Groups make collective decisions on behalf of their members
Both Arnold and Will work 10 hours a day. Arnold can produce six baskets of goods per hour while Will can produce four baskets of the same goods per hour. It follows that Arnold's
a. productivity is greater than Will's. b. output is greater than Will's. c. standard of living is higher than Will's. d. All of the above are correct.