Absolute advantage is irrelevant, because knowing the absolute number of labor hours required to produce a good does not indicate if a country benefits from trade

If the spot exchange rate is undervalued, the foreign rate of return is:

a. equal to the domestic rate of return. b. greater than the domestic rate of return. c. less than the domestic rate of return. d. diverging from the domestic rate of return.

Public provision of education might

A. cause property values to fall. B. crowd out private provision. C. decrease local taxes. D. none of these answer options are correct.