If Country A exports a good to Country B, who is made worse off?
a. The producers in Country A and the consumers in Country B
b. The consumers in Country A and the consumers in Country B
c. The producers in Country A and the producers in Country B
d. The consumers in Country A and the producers in Country B
e. Only the consumers in Country A will be worse off from this trade agreement
D
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A good produced in Japan and sold to Korea
a. is a Korean export and Japanese import b. is a Korean import and Japanese export c. implies that Japan has an absolute advantage in the production of the good d. implies that Korea has a comparative advantage in the production of the good e. implies that Korea has an absolute advantage in the production of the good
A decision to supply labor or not to supply it is also a decision to
a. earn the highest possible wage. b. demand or forgo a certain amount of leisure. c. be as productive as possible. d. join the union.