Examlex
Suppose that Spain has a comparative advantage in hats and Portugal has a comparative advantage in doormats.Under a system of free trade,each country specialises and then trades with the other.If the price starts at 4 hats per doormat,and then increases to 5 hats per doormat,then:
Abandoned Line
A term that could refer to a discontinued approach or argument, or a physical railway or communication line no longer in use.
Claim
An assertion or demand for something as due or belonging to one, often without proof.
Counterargument
An argument made to oppose or refute another argument, typically used in debates or in constructing persuasive essays.
Interpretive Comments
Observations or explanations that are based on personal judgment or analysis, often offering insight into meaning or context.
Q1: In the United States, a "buy American"
Q32: Suppose a Japanese investor purchases a dollar
Q36: One season is a short run because:<br>A)production
Q37: If $1 was equivalent to 120 Japanese
Q37: Price elasticity of demand measures:<br>A)the responsiveness of
Q40: Marginal product can be:<br>A)positive, zero or negative<br>B)only
Q42: Policies to lower the price level of
Q63: In Exhibit 5-1,the demand curve between points
Q80: Nascent industries require adequate protection from foreign
Q118: Complementary goods are goods:<br>A)that are consumed jointly.<br>B)that