Canada is a major world producer and exporter of wheat and a great percent of its GDP is derived from this one good. That's both good news and bad news for Canada. The good news is
a. that other countries have less of a target to retaliate on but the bad news is that they are most likely to retaliate
b. that Canada can concentrate on principally one good but the bad news is that its comparative advantage changes when its absolute advantage changes
c. that Canada can concentrate on principally one good but the bad news is that its absolute advantage changes when its comparative advantage changes
d. that Canada gets substantial gains from trade but the bad news is that other countries may retaliate against all Canadian exports
e. that Canada gets substantial gains from trade but the bad news is that price changes in wheat can erode much of the gains
E
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The above table shows the market shares for all the landscaping services in a suburban area. A merger between firms E and F would
A) raise the four-firm concentration ratio. B) have no effect on the four-firm concentration ratio. C) lower the four-firm concentration ratio. D) create a monopoly.
If the nominal gross domestic product (GDP) for a year is $5.4 trillion, and the real gross domestic product (GDP) for the same year is $3.6 trillion, the GDP price index is _____
a. 0.667 b. 150 c. 66.67 d. 50 e. 33.33