Between the U.S. and Nepal, Nepal invests less in new factories and equipment. This will likely cause
A. the U.S.'s production possibilities frontier to shift outward faster than Nepal's.
B. Nepal's production possibilities frontier to shift inward faster than the U.S.'s.
C. the U.S.'s production possibilities frontier to shift inward faster than Nepal's.
D. Nepal's production possibilities frontier to shift outward faster than the U.S.'s.
Answer: A
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A) shifts rightward and its slope does not change. B) shifts leftward and its slope does not change. C) becomes flatter. D) becomes steeper.
If the United States had a financial account deficit of $50 billion, we could say the United States had
A) net imports of $50 billion. B) net foreign borrowing of $50 billion. C) acquired net foreign assets of $50 billion. D) a current account deficit of $50 billion.
From the information in the above table, calculate the marginal factor cost of the third worker
A) $24.00 B) $36.00 C) $18.00 D) $12.00
When a party to a transaction lacks relevant information:
A. they always make the deal blindly. B. they will not make the deal without complete information. C. they sometimes seek out information in ways that are not obvious. D. other parties will voluntarily share this information truthfully.