International trade allows a country's consumption possibilities to exceed its production possibilities.
Answer the following statement true (T) or false (F)
True
A country can consume beyond its production possibilities due to the fact that the country can purchase what it needs abroad for a lower cost than it can produce the goods, allowing it to consume more.
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Which of the following is NOT a part of aggregate expenditure?
A) exports B) investment C) imports D) government expenditure E) taxes
Suppose there are 100 identical firms producing package delivery services. One of the firms pays a wage rate of $7 and hires 20 delivery workers. The price the firm charges to deliver a package is $10 . We know then that the number of delivery workers in the package delivery industry is
a. 100 workers b. 200 workers c. 700 workers d. 2,000 workers e. 10,000 workers