Relative to a no-international-trade initial situation, if the United States had a comparative advantage in wine production and exported wine, the U.S. domestic price of wine:
a. would rise, but domestic output would fall.
b. would fall, but domestic output would rise.
c. would rise, and domestic output would rise.
d. would fall, and domestic output would fall.
c
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Which of the following would cause an increase in the equilibrium price and decrease in the equilibrium quantity of watermelon?
A) an increase in demand and an increase in supply greater than the increase in demand B) a decrease in supply C) an increase in demand and an increase in supply D) a decrease in demand and an increase in supply
A corporation's shareholders are its:
a. board of directors. b. residual claimants. c. specialized active managers. d. supervisors.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30
While a trade-off between inflation and unemployment may exist when people expect no inflation, when they realize inflation is occurring, what happens?
a. The trade-off increases. b. The trade-off decreases. c. The trade-off disappears. d. The trade-off shifts.