Refer to Table 9-11. Which country has a comparative advantage in producing hats?
A) Denmark B) Belize C) both countries D) neither country
B
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Which of the following influences does NOT shift the supply curve?
A) a rise in the wages paid workers who produce the good B) the development of new technology C) people deciding that they want to buy more of the product D) a decrease in the number of suppliers
Which of the following is not a characteristic of less-developed countries?
a. a focus on production of consumption goods b. low levels of investment in capital goods c. political instability d. a high percentage of the population under age 15 e. adequate infrastructure
In some games, the noncooperative equilibrium is bad for the players and bad for society
a. True b. False Indicate whether the statement is true or false
Which of the following events is least likely to take place under a fixed exchange rate system?
A) an increased volume of trade because of a decline in exchange rate volatility B) increased cross-border capital flows C) increase in cost of trade because of higher transaction costs D) increased cross-border labor flows in integrated economies