A business cycle peak is a
A) small positive deviation from trend in real GDP.
B) relatively large positive deviation from trend in real GDP.
C) small negative deviation from trend in real GDP.
D) relatively large negative deviation from trend in real GDP.
B
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For each pound of salami that Hungary produces, it gives up the opportunity to make 10 bottles of beer. Slovakia can produce 1 pound of salami for every 8 bottles of beer it produces
Which of the following is true about the comparative advantage between the two countries? A) Slovakia has the comparative advantage in beer. B) Hungary has the comparative advantage in beer. C) Hungary has the comparative advantage in salami. D) Slovakia has the comparative advantage in salami and beer.
Explain how cigarettes could be called "money" in prisoner-of-war camps of World War II
What will be an ideal response?