International Economics [EN]
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In New Zealand one worker can produce 40 walking sticks or 10 boomerangs each hour. What is the opportunity cost of producing one walking stick?
The basis for international trade is:
What is the general term for when a government interferes in free trade?
When a country imports more than it exports, what is the value of the net exports?
What is the equation that describes net exports?
When a country exports more than it imports, what is the value of net exports?
When a country exports and imports the same amount of goods, what is its net exports?
Is it possible for a producer to have both an absolute advantage and a comparative advantage in one product?
When an absolute advantage exists, what should the producer with the absolute advantage do?
When a comparative advantage exists, what should the producer with the comparative advantage do?
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