Refer to the information provided in Table 33.1 below to answer the question(s) that follow. Table 33.1
Refer to Table 33.1. Guatemala has
A. an absolute advantage in banana production.
B. a comparative advantage in orange production.
C. a comparative advantage in banana production.
D. an absolute advantage in orange production.
Answer: C
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The Fed has adopted an interest rate target for most of the time since World War II
Indicate whether the statement is true or false
According to the traditional interest-rate channel, expansionary monetary policy lowers the real interest rate, thereby raising expenditure on
A) business fixed investment. B) government expenditure. C) consumer nondurables. D) net exports.
The equation E¥/£ = 100 means that:
a. one yen buys 10 pounds. b. 0.1 yen buys one pound. c. 10 yen buy one pound. d. 0.01 yen buys one pound.
There are 20 residents in the village of Towneburg. The size of the village's annual fireworks display depends upon the number of shells that are fired off. Each resident's demand for fireworks is shown below. The total cost of the fireworks display is $1,000 plus $10 per shell.
Collectively, the residents of Towneburg would be willing to pay ________ for the 24th shell, and the marginal cost of the 24th shell is ________.
A. $40; $200 B. $40; $10 C. $20; $10 D. $20; $200