Suppose you have just been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. In your first presentation to? management, how would you describe your planned methodology to perform the? analysis?

With other things unchanged, a rise in the average price of imports or a fall in the average price of exports will:

a. improve the terms of trade. b. worsen the terms of trade. c. expand the production possibilities frontier. d. contract the production possibilities frontier.

Refer to the information provided in Table 20.4 below to answer the question(s) that follow.  Table 20.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60  Refer to Table 20.4. In Chile, the opportunity cost of 1 case of wine is

A. 1/2 case of beer. B. 1 case of beer. C. 2 cases of beer. D. 4 cases of beer.