Suppose that the United States and Cuba decide to open up trade. If each country specializes in the good in which it has a comparative advantage, ________ will gain from that trade because ________.
A) both countries; consumption possibilities in both Cuba and the United States will lie outside their PPFs.
B) neither country; their consumption possibilities will not change.
C) only the United States; consumption possibilities in Cuba will lie outside its PPF and U.S. consumption possibilities will not change.
D) only Cuba; consumption possibilities in Cuba will lie outside its PPF and U.S. consumption possibilities will not change.
Question 2
The reservation value of a seller reflects her ________.
A) willingness to pay for using a resource
B) marginal cost
C) marginal revenue
D) total cost
The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
Cartoon of Uncle Sam teaching states in Puck
Hold baby’s hands and (A) cross arms over chest and then (B) open out to the sides. Repeat several ...
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