In a typical year, about what percentage of the world’s output is traded in international markets?
a. 85%
b. 55%
c. 35%
d. 15%
d. 15%
You might also like to view...
When a person has a comparative advantage in producing a good or service, the person has
A) a higher opportunity cost in producing that product than someone else. B) a constant opportunity cost in producing that product. C) a decreasing opportunity cost in producing that product. D) a lower opportunity cost in producing that product than someone else. E) an increasing marginal benefit in producing the good.
The market supply curve is also the
A) marginal social cost curve. B) marginal value curve. C) marginal social benefit curve. D) maximum-supply-price curve.
In many European countries it is much easier than in the United States for unemployed workers to receive generous wage replacement income from their governments
Indicate whether the statement is true or false
The unemployment rate is the number of people classified as unemployed as a percentage of: a. the entire population
b. the population over the age of sixteen. c. the labor force. d. the number of people over the age of sixteen who are employed.