The additional output that one additional input of labor is responsible for is its

If domestic income falls, what must happen to keep the trade balance the same?

a. The real exchange rate must fall. b. Foreign income must rise. c. The domestic price level must fall. d. Domestic income must fall.

Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many hats will Denmark gain compared to the "without trade" numbers?

A) -150 B) 0 C) 150 D) 1,050