USU-Intro To MacroEcon - Assignment 1

2 germany has the c omparative advantage in c ars 3

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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 paribus , 1. the quantity demanded of c ompac t dis k s would not c hange. 2...
View Full Document

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.

Ask a homework question - tutors are online