Refer to Table 9-11. Which country has a comparative advantage in producing clocks?

Any profit earned by a corporation

A) does not get taxed. B) gets taxed once. C) gets taxed twice. D) gets taxed five times.

If a consumer purchases only two goods (x and y) and the demand for x is elastic, then a rise in the price of x:

a. will cause total spending on good y to rise. b. will cause total spending on good y to fall. c. will cause total spending on good y to remain unchanged. d. will have an indeterminate effect on total spending on good y.