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 United States and Its Territories, 1787–1802
This fisherwoman from Kerry, one of the poorest counties in Ireland, may have been one of the many t
In the past year, about one in five adults in the United States reported symptoms of anxiety ...
Largest nitric acid plants in the United States
Different types of fog found throughout the United States