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Unformatted text preview: . Germany has the c omparative advantage in c ars .
3. Korea has the c omparative advantage in c ars .
4. Germany has the c omparative advantage in food.
5. Germany has a lower opportunity c os t for mak ing food.
Que stion 11 (1 point)
In general, the purpos e of mark ets is to
1. provide a means for unrec orded pay ments .
2. provide a forum for ex c hange of politic al benefits .
3. provide a means for illegal trans ac tions .
4. fac ilitate the ex c hange of goods and s ervic es between buy ers and s ellers .
5. fac ilitate the ex c hange of illegal c ommodities .
Que stion 12 (1 point)
Barter refers to ex c hanges made
1. without the us e of money .
2. only with the us e of money .
3. within c ountries who are ex perienc ing foreign c urrenc y ex c hange problems .
4. only in underdeveloped c ountries .
5. barter does not ex is t in the U.S. ec onomy
Que stion 13 (1 point)
Ac c ording to the law of demand, if the pric e of c ompac t dis k s dec reas ed, c eteris
1. the quantity demanded of c ompac t dis k s would not c hange.
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This homework help was uploaded on 03/18/2014 for the course ECON 2010 taught by Professor Staff during the Spring '08 term at Utah Valley University.
- Spring '08