Refer to the table above. Which of the following is likely to be true in this case?
A) Laborland's terms of trade will improve.
B) Laborland's economy will go into a recession.
C) There will be a surplus in Laborland's financial account.
D) There will be a deficit in laborland's financial account.
Question 2
Consider a firm that is trying to determine how many hours to remain open in a day. How would the firm make this decision?
What will be an ideal response?