The organization formed to allow governments to borrow to stabilize exchange rates is the

If the U.S. can produce pizza for $5 each and barrels of beer for $25 each, and Germany can produce pizza for $7 each and barrels of beer for $21 each, then Germany has

A) a comparative advantage in the production of beer. B) an absolute advantage in the production of beer. C) a comparative advantage in the production of pizza. D) a comparative advantage in the production of beer and pizza.

Suppose that utility over consumption and leisure takes the constant elasticity of substitution form . If falls between 0 and -1, then the labor supply curve is backward bending.

Answer the following statement true (T) or false (F)