Refer to Table 7-6. With trade, what is the total gain in belt production?
A) 20 B) 40 C) 60 D) 120
A
You might also like to view...
Refer to the table above. If the world price of trousers is $8 per pair, then which of the following statements is true?
A) Country B, Country C, and Country D will export trousers, whereas Country A will import trousers. B) Country A, Country C, and Country D will import trousers, whereas Country B will export trousers. C) Only Country B will import trousers, whereas Country A, Country C, and Country D will export trousers. D) All countries will import trousers.
Expansionary monetary policy should be used if:
A) aggregate demand-aggregate supply equilibrium is below potential output. B) aggregate demand-aggregate supply equilibrium is above potential output. C) aggregate demand-aggregate supply equilibrium is equal to potential output. D) none of the above.
Capitalists like Henry Ford welcomed the Fair Labor Standards Act of 1938 . It relieved them of the responsibilities associated with contracting wages, hours and working conditions
Indicate whether the statement is true or false
For purposes of determining comparative advantage, the cost of producing a good in each of two countries is measured in terms of:
a. metric units only. b. opportunity costs. c. total costs. d. the currency of the importing country. e. the currency of the exporting country.