According to the above table, if these two countries trade
A) Mexico should import computers and the United States import bicycles.
B) the United States should import computers and Mexico should import bicycles.
C) the United States should export bicycles and Mexico should export computers.
D) we cannot tell which country should export which good without knowing the amount of labor utilized in each country.
A
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Which of the following statements is true?
A) In the long run, the average cost curve is always downward sloping. B) In the long run, the quantities of all inputs are fixed. C) In the long run, the firm's fixed costs are greater than its variable costs. D) In the long run, all costs are variable costs. E) In the long run, the total variable cost equals the total fixed cost.
The term "shock":
A. Always refers to an unexpectedly bad event B. Always refers to an increase in inflation C. Does not tell us whether what has happened is unexpectedly bad or unexpectedly good D. Always refers to a decrease in real GDP and an increase in unemployment