Which of the following countries has the greatest degree of measured income inequality?
a. Canada
b. France
c. United States
d. Japan
c
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Refer to Table 2-16. Finland has a comparative advantage in the production of
A) neither product. B) both products. C) lumber. D) cell phones.
In which of the following regions would you most expect to see labor-intensive production?
a. Japan b. Western Europe c. southeast Asia d. the United States
Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.
Figure 33.5Refer to Figure 33.5. The domestic price of oil is $130 per barrel. If the world price of oil is $120 per barrel, this country will
A. export 5 million barrels. B. import 14 million barrels. C. export 19 million barrels. D. import 19 million barrels.
Which of the following might create cost-push inflation?
A. An increase in taxes B. A decrease in government regulation C. A decrease government spending D. An increase in oil prices