Based on the data in the tables below, you can conclude that:
Two nations, ECON and OMICS, each produce goods A and B. The table gives points on each nation's production possibilities curve.
A. OMICS has a comparative advantage in the production of good A
B. ECON has a comparative advantage in the production of good A
C. ECON has a comparative advantage in the production of good B
D. Neither ECON nor OMICS has a comparative advantage
B. ECON has a comparative advantage in the production of good A
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The largest share of total production in the United States is
A) government goods and services. B) exported goods and services. C) capital goods. D) consumption goods and services. E) imported goods and services.
When someone in a country buys an asset abroad, the transaction is recorded
A) in the current account. B) in the official settlements balance. C) in the financial account as a capital inflow. D) in the financial account as a capital outflow.