A voluntary import expansion involves a
A) country agreeing to import more from another country.
B) country agreeing to reduce its trade barriers.
C) country agreeing to an import quota.
D) firm agreeing to expand output.
Answer: A
Economics
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Refer to Table 2-9. Thailand has a comparative advantage in the production of
A) wristwatches. B) rice. C) both products. D) neither product.
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In the short run, marginal cost is increasing when
A) MPL is decreasing. B) MPL is increasing. C) APL is increasing. D) APL is decreasing.
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