Refer to Table 2-20. Japan has a comparative advantage in the production of
A) rice. B) wristwatches. C) both products. D) neither product.
A
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Your aunt owns a gold mine. The marginal extraction cost of gold is $25 and remains constant over time. The current market price of a unit of gold is $200. Your aunt's appropriate discount rate is 12%
Next year, your aunt expects the price of a unit of gold to be $222. Should your aunt extract any gold from the mine this year?
The pre-Keynesian or classical economic theory predicted that in the long-run the economy would experience:
a. long periods of high unemployment. b. rising rates of inflation. c. only temporary periods of high unemployment. d. idle factors of production.
Mutually beneficial trade is possible because of differing marginal utilities.
Answer the following statement true (T) or false (F)
The Drinking Water State Revolving Fund (DWSRF)
a. was established under the Safe Drinking Water Act of 1974 b. received no additional funding from the American Recovery and Reinvestment Act c. initially authorized $1 billion per year for infrastructure improvements d. all of the above