The law of comparative advantages explains why
A. advanced nations will not trade with less-developed countries.
B. an advanced nation will not trade with other countries.
C. less-developed countries only trade among themselves.
D. nations trade with each other, regardless of their relative levels of economic development.
E. nations erect trade barriers.
Answer: D
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The creation of the dust bowl and the migration of the "Okies" to California took place in the
A. 1920s. B. 1930s. C. 1940s. D. 1950s.
If the MPC = 1, the spending multiplier is:
a. infinite. b. zero. c. 10. d. 100. e. 1.
Compared to high skilled workers, low skill workers are more
What will be an ideal response?
Supply and demand analysis can explain:
A. the initial set of property rights but not how much rent will accrue to a landholder. B. neither the initial set of property rights nor how much rent will accrue to a landholder. C. how much rent will accrue to a landholder and the initial set of property rights. D. how much rent will accrue to a landholder but not the initial set of property rights.