When the U.S. dollar appreciates against a foreign currency, U.S. goods become:
A. more expensive to people abroad, and we expect net exports to decrease.
B. less expensive to people abroad, and we expect net exports to increase.
C. more expensive to people abroad, and we expect net exports to increase.
D. less expensive to people abroad, and we expect net exports to decrease.
A. more expensive to people abroad, and we expect net exports to decrease.
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The table above shows a nation's production possibilities frontier. If the nation chooses to increase the production of robots from 2 to 3 and it is on its PPF, it will have to forgo ________ pizzas
A) 34 B) 35.5 C) 3 D) 37 E) None of the above answers is correct.
Countries gain from specializing in producing goods in which they have ________ and trading for goods in which other countries have ________
A) a comparative advantage; an absolute advantage B) an absolute advantage; an absolute advantage C) an absolute advantage; a comparative advantage D) a comparative advantage; a comparative advantage