An input-output table details the sales of each industry to all other industries in an economy
Indicate whether the statement is true or false
TRUE
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Suppose a U.S.-made machine costs $500 and the exchange rate was 100 yen = $1 yesterday. Today the exchange rate is 90 yen = $1 . You know then that the
a. machine would now cost more dollars b. machine would now cost the Japanese firm less yen c. machine would now cost less dollars d. machine would now cost the Japanese firm more yen e. yen has depreciated in value
The demand for a factor of production depends on the:
A. supply of the factor. B. supply of other factors of production. C. demand for other factors of production. D. demand for the products that it helps to produce.
Trade policies in which industries have been the most contentious in the Doha Round?
What will be an ideal response?
A country cannot produce a mix of products with a higher value than where
A) the isovalue line is tangent to the production possibility frontier. B) the isovalue line intersects the production possibility frontier. C) the isovalue line is above the production possibility frontier. D) the isovalue line is below the production possibility frontier. E) the isovalue line is tangent with the indifference curve.