If the opportunity cost of producing one basketball in Romania is 3 Barbie dolls, while the opportunity cost of producing one basketball in Nigeria is 2 Barbie dolls, _______ has the comparative advantage in the production of basketballs.
A. Romania
B. Nigeria
C. both Romania and Nigeria
D. neither Romania nor Nigeria
B. Nigeria
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In Figure 5-1 from the text, if the price of pizzas is $8: a. how many pizzas will the consumer purchase? b. what is the payment for the optimal number of pizzas? c. how much consumer’s surplus will the consumer receive?
What will be an ideal response?
About what percentage of U.S. output was exported to foreigners in 2012?
A) 1% B) 14% C) 18% D) 25%
What is the Nash equilibrium of this game?
a. Cheat, Cheat b. Not cheat, Not cheat c. Sam cheats, Sarah doesn't d. Sarah cheats, Sam doesn't
One reason that we might observe a rise in net capital outflow could be interest rates in the:
A. rest of the world are declining, relative to the U.S. B. U.S. are declining, relative to the rest of the world. C. U.S. and the world are all declining. D. U.S. and the world are all increasing.