This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why is it likely that the United States has an absolute advantage in goods and yet it still ends up ... (Read 58 times)

rmenurse

  • Hero Member
  • *****
  • Posts: 513
on: Jun 29, 2018
Why is it likely that the United States has an absolute advantage in goods and yet it still ends up importing them from other countries?
 
  What will be an ideal response?

Question 2

Moving along the short-run Phillips curve, if ________ increases, then ________ decreases.
 
  A) unemployment; the price level
  B) inflation; real GDP
  C) inflation; unemployment
  D) unemployment; the expected inflation rate
  E) inflation; the price level


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ladyjames123

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 29, 2018
Answer to Question 1

The United States might have an absolute advantage in producing a good but not a comparative advantage. In this case, the opportunity cost of producing the good in the United States is higher than in another country. Thus the United States will import the product from the other country.

Answer to Question 2

C


rmenurse

  • Member
  • Posts: 513
Reply 2 on: Jun 29, 2018
:D TYSM

cpetit11

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

A woman in a net on a Congo shore. Although the importation of slaves was illegal after 1807, histor A woman in a net on a Congo shore. Although the importation of slaves was illegal after 1807, histor
Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ... Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ...
The constitutional division of Powers Between the National Government and the States The constitutional division of Powers Between the National Government and the States
Prevalence rates of obesity in the United States, 2014 Prevalence rates of obesity in the United States, 2014
Video: Neuron structure and function - sensory neurons, association neurons & motor neurons

For a complete list of videos, visit our video library