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
Median Age at First Marriage in the United States
Santiago Calatrava, Port Authority Trans Hudson (PATH) station, World Trade Center site.
Multigroove adjustable pliers are known by many names, including the trade name Channel Locks®.
Primary causes of chronic liver disease in the United States.
Relationship between Income and Happiness in the United States
By the People: A History of the United States, AP Edition