Assume the standard trade model with two countries (Alpha and Beta), two goods (food and drink), and two factors of production (land and labor). Further assume that Alpha is relatively labor-abundant and food is relatively land-intensive. According to the Heckscher-Ohlin theory, Alpha has a comparative advantage in the production of

The market pricing system corrects an excess supply by

a. raising the product price and increasing producer profits. b. lowering the product price and decreasing producer profits. c. raising the product price and decreasing producer profits. d. lowering the product price and increasing producer profits.

The New Deal legislation passed by President Roosevelt was inspired by

A. economic problems caused by World War I. B. normal business cycles. C. the Irish potato famine of 1927. D. the Great Depression