According to the law of one price
A) a company can only charge one price for a product, no matter which nation the product is sold in.
B) interest rates across nations should be the same when adjusted for exchange rates.
C) goods that are easily tradable across nations should sell for the same price expressed in a common currency.
D) the price of gold should differ between nations.
C
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In a diagram with the total cost curve and the total variable cost curve, as output increases, the vertical distance between these two curves
A) is constant. B) decreases. C) increases. D) gets smaller and then bigger again.
Relative to the supply curve of high-skilled workers, the supply curve of low-skilled workers is
A) to the right. B) above. C) to the left. D) on top of the high-skilled worker supply curve.