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Author Question: As a result of the 2008-2009 financial crisis and the decrease in GDP in many European economies, we ... (Read 117 times)

bucstennis@aim.com

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on: Jun 29, 2018
As a result of the 2008-2009 financial crisis and the decrease in GDP in many European economies, we would expect
 
  A) an increase in the demand for U.S. exports and a leftward shift in the demand curve for dollars.
  B) a decrease in the demand for U.S. exports and a leftward shift in the demand curve for dollars.
  C) a decrease in the demand for U.S. exports and a rightward shift in the demand curve for dollars.
  D) a decrease in the demand for U.S. imports and a movement up along the demand curve for dollars.

Question 2

An economy produces only food and shelter. There are two individuals in the economy: Bill and Mary. Mary's opportunity cost of producing 1 unit of shelter is 2 units of food. Bill's opportunity cost of producing 1 unit of shelter is 4 units of food.
 
  A) Bill has a comparative advantage over Mary in the production of shelter.
  B) Mary has a comparative advantage over Bill in the production of food.
  C) Mary has a comparative advantage over Bill in the production of shelter.
  D) Bill has an absolute advantage over Mary in the production of shelter.


sultansheikh

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


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bucstennis@aim.com

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Reply #2 on: Jun 29, 2018
Thank you


sultansheikh

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Reply #3 on: Jun 29, 2018
No problemo


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