USU-Intro To MacroEcon - Assignment 1

4 to ins is t upon protec tion agains t foreign c

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Unformatted text preview: . 4. to ins is t upon protec tion agains t foreign c ompetition through legis lation. 5. to s pec ializ e in ac tivities in whic h opportunity c os ts are lowes t and then trade. Que stion 8 (1 point) In the table above, the opportunity c os t of a c ook ie in Iowa is 1. 8 c hilies . 2. the s ame as in Ohio. 3. 96 c hilies . 4. les s than in Ohio. 5. None of thes e Que stion 9 (1 point) A pers on has a c omparative advantage in produc ing a good if 1. that pers on c an produc e the good at a lower abs olute c os t than any one els e. 2. that pers on c an produc e the good at a lower opportunity c os t than any one els e. 3. that pers on s pends les s money in out-of-poc k et ex pens es than any body els e. 4. that pers on c an produc e the good at a higher opportunity c os t than any one els e. 5. that pers on c an do a better job than any one els e. Que stion 10 (1 point) In the figure above, whic h of the following is true? 1. Korea has a lower opportunity c os t for mak ing c ars . 2...
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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.

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