Homework Answers
1. A
Opportunity cost = 25/50 = 1/2 Accordion
2. A
WTO is responsible for overseeing GATT.
3. A
If a country can produce a good at lower opportunity cost than another country can, the country has comparative advantage in that good.
4. A
Higher German investment increases demand for dollars. So Germans will sell euro to buy dollar, increasing supply of euro.
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answer these 4. will rate after
According to Table 18.1 below. The opportunity cost of a...
answer these 4. will rate after The consumption possibilities curve shows the combinations of goods that...
answer these 4. will rate after
The consumption possibilities curve shows the combinations of goods that can be O consumed by a nation after trading begins. O consumed by a nation before trade begins. O produced by a nation before trading begins. O produced by a nation after trade begins. According to the Table 18.1 below, the possible terms of trade between Scotland and Poland are: Daily Output of Scotland Poland Bag pipes 50 75 Accordions 25 150 O 1...
According to Table 18.1 below, Poland's opportunity cost of producing Bag pipes is Daily Output of...
According to Table 18.1 below, Poland's opportunity cost of producing Bag pipes is Daily Output of Scotland Poland Bag pipes 50 75 Accordions 25 150 O2 Accordians 1/2 Accordian 03 Accordians. 1/3 Accordian
answer these 4 . will rate after Which of the following increases the price of the...
answer these 4 . will rate after
Which of the following increases the price of the dollar relative to the Mexican peso? o an increase in the demand for dollars an increase in the supply of dollars O an increase in the demand for pesos an increase in the supply of pesos If a Germany company must purchase products from a U.S. firm, it must first O convert its euros into US dollars in the foreign exchange market. O convert...
answer these 4 . will rate after If the prices in the United States decrease compared...
answer these 4 . will rate after
If the prices in the United States decrease compared to other countries, we would expect o the demand for dollars to increase because U.S. goods are cheaper. the demand for dollars to decrease because U.S. goods are more expensive. the supply of foreign currency in the foreign exchange rate markets to decrease. the demand for foreign currency in the foreign exchange rate markets to increase. We were unable to transcribe this imageThe supply...
answer these 4 . will rate after A reduction in the British interest rate relative to...
answer these 4 . will rate after
A reduction in the British interest rate relative to the U.S. interest rate will cause a(n): appreciation of the dollar and an appreciation of the British pound. O appreciation of the dollar and a depreciation of the British pound. depreciation of the dollar and an appreciation of the British pound. O depreciation of the dollar and a depreciation of the British pound. A decrease in preference for Japanese automobiles, all else the same,...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...
Please help me answer theses practice questions QUESTION 2 Which of the following can a country...
Please help me answer theses practice questions
QUESTION 2 Which of the following can a country implement to protect local industries (e.g. bicycles) according to the video on the deceptive promise of free trade? Border walls local training programs to strengthen local industries protectionist policies such as tarrifs creating a high minimum wage locally governments can't do anything QUESTION 3 Which of the following European countries has a trade surpluse with the US as well as most other European countries...
macoroeconomics 1. Society as a whole faces opportunity costs because a. there is not enough money to go around...
macoroeconomics
1. Society as a whole faces opportunity costs because a. there is not enough money to go around b. politicians are greedy c. resources are scarce d. our needs are unlimited 2. Mary decides to spend 3 hours working overtime rather than watching a video with her friends. She earns $9 an hour. Her opportunity cost of working is: a. the enjoyment she would have received had she watched the video with friends. b. $27 she earns working c....
Match the following: 2. Adam Smith 3. Karl Marx 4. John Maynard Keynes Choices: (2 are...
Match the following: 2. Adam Smith 3. Karl Marx 4. John Maynard Keynes Choices: (2 are not used.) a. invented capitalism b. invented socialism c. founder of modern macroeconomics d. founder of modern market economics e. predicted the end of capitalism 5. If a firm has trouble selling its good, it can a. lower price. b. increase demand. c. decrease supply. d. both a) and b) are correct. 6. People often pay too much for goods because they are not...
Question 1: According to Milton Friedman, the reason there are two Phillips curves is because a....
Question 1: According to Milton Friedman, the reason there are two Phillips curves is because a. prices are inflexible. b. the expected inflation rate does not instantaneously adjust to changes in the actual inflation rate. c. the expected inflation rate is equal to 1 minus the actual inflation rate. d. the expected inflation rate adjusts to changes in the actual inflation rate. Question 2: Milton Friedman argued that there a, are two Phillips curves, a short-run one and a long-run...
answer these 4. will rate after
The consumption possibilities curve shows the combinations of goods that can be O consumed by a nation after trading begins. O consumed by a nation before trade begins. O produced by a nation before trading begins. O produced by a nation after trade begins. According to the Table 18.1 below, the possible terms of trade between Scotland and Poland are: Daily Output of Scotland Poland Bag pipes 50 75 Accordions 25 150 O 1...
According to Table 18.1 below, Poland's opportunity cost of producing Bag pipes is Daily Output of Scotland Poland Bag pipes 50 75 Accordions 25 150 O2 Accordians 1/2 Accordian 03 Accordians. 1/3 Accordian
answer these 4 . will rate after
Which of the following increases the price of the dollar relative to the Mexican peso? o an increase in the demand for dollars an increase in the supply of dollars O an increase in the demand for pesos an increase in the supply of pesos If a Germany company must purchase products from a U.S. firm, it must first O convert its euros into US dollars in the foreign exchange market. O convert...
answer these 4 . will rate after
If the prices in the United States decrease compared to other countries, we would expect o the demand for dollars to increase because U.S. goods are cheaper. the demand for dollars to decrease because U.S. goods are more expensive. the supply of foreign currency in the foreign exchange rate markets to decrease. the demand for foreign currency in the foreign exchange rate markets to increase. We were unable to transcribe this imageThe supply...
answer these 4 . will rate after
A reduction in the British interest rate relative to the U.S. interest rate will cause a(n): appreciation of the dollar and an appreciation of the British pound. O appreciation of the dollar and a depreciation of the British pound. depreciation of the dollar and an appreciation of the British pound. O depreciation of the dollar and a depreciation of the British pound. A decrease in preference for Japanese automobiles, all else the same,...
Please help me answer theses practice questions
QUESTION 2 Which of the following can a country implement to protect local industries (e.g. bicycles) according to the video on the deceptive promise of free trade? Border walls local training programs to strengthen local industries protectionist policies such as tarrifs creating a high minimum wage locally governments can't do anything QUESTION 3 Which of the following European countries has a trade surpluse with the US as well as most other European countries...
macoroeconomics
1. Society as a whole faces opportunity costs because a. there is not enough money to go around b. politicians are greedy c. resources are scarce d. our needs are unlimited 2. Mary decides to spend 3 hours working overtime rather than watching a video with her friends. She earns $9 an hour. Her opportunity cost of working is: a. the enjoyment she would have received had she watched the video with friends. b. $27 she earns working c....
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