For an imaginary economy, the value of the consumer price index was 138.75 in 2016, and the inflation rate was 10 percent between 2015 and 2016 . The consumer price index in 2015 was

Let's assume producers in Canada can make 200 units of beef or 50 units of oranges, and U.S. producers can make 50 units of beef or 200 units of oranges per time period. Producers in which nation have an incentive to specialize in beef production?

A) The U.S. B) Canada C) Both of the above have an incentive to specialize in beef production. D) Neither of the above have an incentive to specialize in beef production.

The difference in land prices between Washington, D.C., and Tulsa, Oklahoma, is an example of a permanent resource price differential

a. True b. False