Which of the following reasons best explains U.S. imports of bauxite from Jamaica and diamonds from South Africa?
a. Differences in resource endowments
b. Economies of scale
c. Differences in tastes
d. Trade restrictions
a
You might also like to view...
A . How does our ratio of public debt to GDP compare with other democratic market-economy countries' ratios? b. Does this indicate whether or not our debt ratio is a problem? Explain
The short-run Phillips curve holds that
A) high inflation and high unemployment can occur together. B) low inflation and low unemployment can occur together. C) high inflation and low unemployment can occur together. D) b and c
The above figures show the market for oranges. Which figure(s) shows the effect of an increase in the price of bananas, a substitute for oranges?
A) Figure A B) Figure C C) Figure D D) Figure A and C
An increase in both the equilibrium price and the equilibrium quantity of DVD players is best explained by:
A. a decrease in the supply of DVD players. B. an increase in the supply of DVD players. C. a decrease in the demand for DVD players. D. an increase in the demand for DVD players.