Author Question: Relative to a no-international-trade initial situation, if the United States had a comparative ... (Read 45 times)

K@

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Relative to a no-international-trade initial situation, if the United States had a comparative advantage in wine production and exported wine, the U.S. domestic price of wine:
 a. would rise, but domestic output would fall.
  b. would fall, but domestic output would rise.
  c. would rise, and domestic output would rise.
  d. would fall, and domestic output would fall.

Question 2

Cleaning an environment may lead to:
 a. less production.
  b. higher prices.
 c. lower incomes.
 d. all of the above.



cpetit11

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Answer to Question 1

c

Answer to Question 2

d



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