The relative amounts of the goods that will be exchanged for each other in trade refers to the nations':
A. absolute advantages.
B. terms of trade.
C. production possibilities.
D. autarky status.
Answer: B
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Refer to the table above. What is the firm's marginal cost when it produces 155 units of the good?
A) $0.66 B) $1 C) $1.33 D) $1.50
Autonomous easing of monetary policy involves ________
A) raising interest rates and shifting the MP curve to the right B) lowering interest rates and shifting the MP curve to the left C) raising interest rates and shifting the MP curve to the left D) lowering interest rates and shifting the MP curve to the right E) none of the above
Spending a lot on advertising:
A. can act as a credible signal to consumers of high-quality products. B. does not serve as a credible signal to consumers, since any producer can do it. C. can act as a credible signal to producers to create high quality substitutes. D. can act as a credible signal to consumers of low-quality products.
Opportunity cost is defined as
A. the value of the next-best alternative that must be sacrificed to attain a want. B. the return from a given unit of labor. C. the least-costly means to produce output. D. the value of the output currently received by an individual or a corporation.