If one observes that Japan was traditionally a net foreign ...

[Yolanda]

If one observes that Japan was traditionally a net foreign lender, one could conclude that relative to its international trade and financial partners
 
  A) Japan's intertemporal production possibilities are biased toward present consumption.
  B) Japan's intertemporal production possibilities are biased toward future consumption.
  C) Japan's intertemporal production possibilities are larger than that of the other countries.
  D) Japan's intertemporal production possibilities are not biased.
  E) Japan preferred to consume beyond its production in the present.

Question 2

The gains from international trade are closely related to
 
  A) the labor theory of value.
  B) how much the autarky price differs from the international price (i.e. the terms of trade).
  C) the fact that one country must lose from trade.
  D) All of the above.

[tsternbergh47]

Answer to Question 1

A

Answer to Question 2

B

[Yolanda]

Excellent

[tuate]

TYSM