If a country can produce cars with a lower opportunity cost than its trading partners, then it must have a:
A. Low market price for cars.
B. Comparative advantage in cars.
C. A trade deficit.
D. A trade surplus.
B. Comparative advantage in cars.
Economics
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The average price of ten commodities is $330. If an eleventh commodity whose price is $600 is included in the calculation, the new average is:
A) $330.35. B) $450.25. C) $354.54. D) $254.54.
Economics
In the specificfactors model, how will immigration affect the sending country's production possibilities frontier?
a. It will shift it to the right. b. It will shift it to the left. c. It will not affect its production possibilities curve. d. Immigration will first shift it to the left, then shift it back to its original position.
Economics