Which is the only case where it is not beneficial for the us to trade with mexico?

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Which is the only case where it is not beneficial for the us to trade  What is the primary role of money? In what way does a competitive market economy differ from a communist economy?

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Question 1  If the US dedicates all its resources towards cars it can produce 12 cars. If the US dedicates all its resources towards TVs it  can producer 24 TVs. Assuming a linear PPF, the point 4 cars and 12 TVs is           a. Feasible but not efficient          b. Efficient but not feasible          c. Efficient and feasible           d. Neither feasible nor efficient    Question 2   What is the opportunity cost for the US to produce 1 car?  (from question above)          a. ½ a TV          b. 1 TV           c. 2 TVs          d. 4 TVs     Question 3   Which is the only case where it is not beneficial for the US to trade with Mexico?        a. The US has an absolute advantage in cars and TVs        b. Mexico has an absolute advantage in c

Which is the only case where it is not beneficial for the us to trade

Which is the only case where it is not beneficial for the us to trade
Description

School: University of Colorado

Department: Economics

Course: Principles of Economics: Microeconomics

Term: Spring 2015

Tags:

Cost: 50

Name: Midterm 1 Practice Exam

Description: Practice Exam for the Midterm

Uploaded: 01/17/2017