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 31 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
Thanks for the timely response, appreciate it

nyrave

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Phacopid trilobite, Devonian age, Ohio, United States Phacopid trilobite, Devonian age, Ohio, United States
Saline Groundwater in the United States Saline Groundwater in the United States
Areas of the United States, Mexico, and Cuba will be affected by a rise of just 100 cm Areas of the United States, Mexico, and Cuba will be affected by a rise of just 100 cm
GDP per Capita in the United States, 1870–2009 GDP per Capita in the United States, 1870–2009
Gypsy moths native to Europe and Asia feed on oaks through much of the United States. Gypsy moths native to Europe and Asia feed on oaks through much of the United States.
Groundwater troubles in the United States Groundwater troubles in the United States
Video: Magnetic resonance imaging (MRI)

For a complete list of videos, visit our video library