Refer to the table below. Based on the given information, we see that:
The table below shows the output (either machines or wine) that each unit of input in France and Germany can produce:
A. France has a comparative advantage in producing wine
B. Germany has a comparative advantage in producing wine
C. Neither country has a comparative advantage in producing wine
D. Germany can produce machines at a lower opportunity cost than France
B. Germany has a comparative advantage in producing wine
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Unemployment compensation is an example of a(n):
a. discretionary stabilizer. b. countercyclical stabilizer. c. procyclical stabilizer. d. seasonal stabilizer. e. automatic stabilizer.
Consider a medical breakthrough that led to the discovery of a simple microchip, which when inserted inside the human ear could prevent certain chronic diseases. The price elasticity of demand for that microchip would most likely be _____
a. highly elastic b. highly inelastic c. undefined d. negative only for high prices e. positive only for high prices