Answer the Question $\frac { 7 } { 12 } \mathrm { ft }$

question 49

Multiple Choice

Answer the question. Give your answer in simplest form.
-For lunch, Jamie bought a 8-inch submarine sandwich. What fraction of a foot was Jamie's sandwich? (1 foot = 12 inches)

• A) \(\frac { 7 } { 12 } \mathrm { ft }\)
• B) \(\frac { 2 } { 3 } \mathrm { ft }\)
• C) \(\frac { 5 } { 12 } \mathrm { ft }\)
• D) \(\frac { 5 } { 6 } \mathrm { ft }\)

Understand the basic principles of international trade and comparative advantage.

Identify and explain the effects of tariffs, quotas, and other trade barriers on international trade.

Recognize the significance of opportunity cost in trade decisions.

Differentiate between absolute and comparative advantages in international trade.

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Definitions:

Conservation

The practice of preserving natural resources and protecting the environment for future generations.

Monopolists

Entities that are the sole providers of a product or service in a market, allowing them to control prices.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product, leading to price-taking behavior.

Interest Rates

The cost of borrowing money, typically expressed as a percentage of the principal, charged by lenders to borrowers for the use of funds.