The Kwakiutl Indians of the Northwest used Hudson Bay blankets as a general medium of exchange. In the economic way of thinking, their blankets were therefore used
A) irrationally.
B) as goods in and of themselves.
C) without regard to their value.
D) as money.
D
Economics
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A pair of shoes manufactured in Milan, Italy cost 195 euros. What is the dollar value of the shoes if the exchange rate is $0.89 per euro?
A) $173.55 B) $195.00 C) $219.00 D) $890.00
Economics
If a country has a higher opportunity cost to produce a good, that means that this country can never possess a comparative advantage in the production of any good
a. True b. False Indicate whether the statement is true or false
Economics