Suppose rice can be produced in country X at a lower cost than in country Y, while tuna can be produced in country Y at a lower cost than in country X. International competition will:
a. destroy the rice market in both countries.
b. drive X to specialize in rice and Y to specialize in tuna.
c. drive Y to specialize in rice and X to specialize in tuna.
d. cause both X and Y to reject international specialization.
e. result in lower total output of rice and tuna.
Question 2
The classical economists argued that the production of goods and services (supply) generates an equal amount of total income and, in turn, total spending. This theory is called:
a. Keynes' General Theory.
b. Say's Law.
c. the animal spirits theory.
d. the law of autonomous consumption.
Horizontal stroking across the lower back.
Two-handed kneading to lower leg muscles. Knead the belly of the calf muscles using two hands ...
Basic sliding effleurage to the lower leg. Apply from heel of foot to knee. Conform hands to contour ...
Broadening effleurage to lower leg. Place heels of the hands together over tibia (no pressure over ...
GDP per Capita by Country Group, 1820–2008
A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her