Refer to Exhibit 2-8. If Maria and Maya each specialize in the good in which she has a comparative advantage and then engage in trade, ____________________ can consume a combination of goods that lies beyond her PPF.
 ANSWER 9.png)
both Maria and Maya
You might also like to view...
The antitrust laws in the United States were created in the late 1800s as a result of :
a. the emergence of large and dominant businesses in railroads, steel, oil, mining and finance. b. the government decision to take responsibility for the improvement of trade deficit. c. the first illegal cartel, created in late 1800s. d. a steep decline in prices of primary goods in the United States. e. the threats of an external aggression received by the country.
If the economy experiences an unplanned inventory accumulation at the full employment level of GDP, then the economy is in a(n)
a. inflationary gap. b. hyperinflation. c. recessionary gap. d. full employment gap.
The Secretary of Labor states that wage rates in the country have risen by 2 percent this past year. The head of a local labor union states that wage gains should have been higher. The Secretary's statement is a(n) ____ economic statement, and the labor head's statement is a(n) ____ economic statement
a. normative; normative b. normative; positive c. positive; normative d. positive; positive e. proper; improper
A policy is time consistent when:
A. the timing of a policy is irrelevant. B. policymakers have incentives to make policy decisions in a time-sensitive fashion. C. policymakers consider the future when making current policies. D. policymakers have incentives to adhere to a policy decision made today, in the future.