Leontief suggested that his results were not a paradox once we account for differences in:

If Country A opens up their corn market to trade with the rest of the world and the global price of corn is lower than the equilibrium price of corn in Country A, then Country A will ________ corn, which will ________ consumer surplus, ________

producer surplus, and ________ total surplus. A) import; increase; decrease; increase B) import; decrease; increase; increase C) export; increase; decrease; increase D) export; decrease; increase; increase E) export; decrease; increase; decrease

Answer the following statements true (T) or false (F)

1. An increase in the labor supply due to immigration would shift the production possibilities curve to the left. 2. A nation's consumption is strictly limited by its production possibilities, even with international trade. 3. If two sets of data are inversely related, they will appear on a graph as an upward-sloping line. 4. If A is the dependent variable and B is the independent variable, then a change in A results in a change in B.