In this chart, how are the coffee roaster and the coffee shipper similar?
a. They both are involved in packing.
b. They both are wholesalers.
c. They both have a product value of $2.00.
d. They both add value of $.75.
d. They both add value of $.75.
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Tom is a U.S. citizen. He took up a job and moved to the U.K. His income will lead to a(n) ________
A) decrease in the GDP of U.K. B) increase in the GNP of U.K. C) increase in the GDP of U.S. D) increase in the GNP of U.S.
If income increases, a budget deficit will:
A. tend to increase. B. not change. C. change unpredictably. D. tend to decrease.
The classical theory predicts that
A) countries will completely specialize in the production of export goods. B) considerable trade will occur between countries with different levels of technology. C) small countries could obtain all of the gains from trade when trading with large countries. D) All of the above.
If demand is ______ to changes in price, it is considered to be perfectly elastic.
a. unresponsive b. slowly responsive c. slightly responsive d. extremely responsive