Chris just completed his college degree from a prestigious university. He did not go to school to become more productive. Rather, he went to school and completed his degree to convey his innate productivity to employers. To which theory of education does he subscribe?

If the world price is below the domestic "no-trade" equilibrium price, then with international trade:

a. the domestic shortage can be eliminated by rationing. b. the domestic surplus can be consumed at home. c. the domestic surplus can be exported to the rest of the world. d. the domestic quantity demanded is equal to that supplied by the world. e. the domestic shortage can be met by foreign imports.

What are exchange rates? If a product cost 30 euros and the exchange rate was 1 euro = $1.50, then how much would the product cost in terms of U.S. dollars?

Please provide the best answer for the statement.