This topic contains a solution. Click here to go to the answer

Author Question: Why is it likely that the United States has an absolute advantage in goods and yet it still ends up ... (Read 72 times)

rmenurse

  • Hero Member
  • *****
  • Posts: 513
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
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
Excellent


tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Gracias!

 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

For a complete list of videos, visit our video library