Sometimes what we think is a collective consumption good only has those characteristics because of _____
a. high fixed costs.
b. private production
c. economies of scale
d. government production
d
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If two countries are very different in relative factor abundance, then empirical support for which of the following would less likely?
A) the Factor Price Equalization Theorem B) the Heckscher-Ohlin Theorem C) the Law of One Price D) the Law of Demand E) the Gravity Theorem
The supply curve of U.S. dollars is drawn assuming other things constant, such as
a. income in the rest of the world b. expectations about the rate of inflation in the United States relative to the rest of the world c. U.S. tastes and preferences for foreign goods d. the interest rate in the United States relative to the rest of the world e. tastes and preferences of the rest of the world for U.S. goods and services