Jake can complete an oil change in 45 minutes and he can write a poem in 90 minutes. Ming-la can complete an oil change in 30 minutes and she can write a poem in 90 minutes. Jake's opportunity cost of writing a poem is lower than Ming-la's opportunity cost of writing a poem

An increase in the home country's income will result in a(n) ___ in the home country trade balance, and an increase in foreign income will result in a(n) ___ in the home country trade balance.

a. fall; fall b. increase; increase c. increase; fall d. fall; increase

Which of the following results from a price ceiling? i. increased search activity ii. surplus iii. black market

A) i only B) i and iii C) ii and iii D) i, ii, and iii E) ii only