Refer to the information provided in Table 20.1 below to answer the question(s) that follow. Table 20.1
Refer to Table 20.1. Guatemala has
A. a comparative advantage but not an absolute advantage in banana production.
B. an absolute advantage and a comparative advantage in banana production.
C. a comparative advantage but not an absolute advantage in orange production.
D. an absolute advantage and a comparative advantage in orange production.
Answer: A
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"If the official settlements balance is zero, a current account surplus implies an equal capital and financial account deficit." Is the previous statement correct or incorrect? Briefly explain your answer
What will be an ideal response?
The table above shows the labor market for the country of Pickett. When the labor market is in equilibrium, the real wage rate is ________ and ________ of labor a year are employed
A) any value less than $25 an hour; any value greater than 40 billion hours B) any value greater than $30 an hour; any value more than 40 billion hours C) any value greater than or equal to $25 an hour; any value less than 40 billion hours D) $30 an hour; 40 billion hours
Compared to the natives of Northern America, ownership of private property rights was
(a) more common to the Europeans than it was to the natives (b) more common to the Indians than to the Europeans. (c) the same. (d) of no value to either group.
Since the U.S. is organized as a market economy, the government sector does not play any role in economic activity
a. True b. False Indicate whether the statement is true or false