Assume, for Mexico, that the domestic price of beets without international trade is higher than the world price of beets. This suggests that, in the production of beets,
a. Mexico has a comparative advantage over other countries and Mexico will export beets.
b. Mexico has a comparative advantage over other countries and Mexico will import beets.
c. other countries have a comparative advantage over Mexico and Mexico will export beets.
d. other countries have a comparative advantage over Mexico and Mexico will import beets.
d
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If the minimum wage rate is set above the equilibrium wage rate, then
A) unemployment definitely increases. B) unemployment definitely decreases. C) unemployment either decreases or does not change. D) unemployment definitely does not change. E) None of the above answers is correct because the minimum wage decreases search but its effect on unemployment is ambiguous.
Limited personal liability is an advantage for
A) sole proprietorships and partnerships. B) partnerships and corporations. C) sole proprietorships and corporations D) corporations.