For the Questions Below, Use the Following Class Definition

question 48

Multiple Choice

For the questions below, use the following class definition.
import java.text.DecimalFormat;
public class Student
{
private String name;
private String major;
private double gpa;
private int hours;
public Student(String newName, String newMajor, double newGPA, int newHours)
{
name = newName;
major = newMajor;
gpa = newGPA;
hours = newHours;
}
public String toString( )
{
DecimalFormat df = new DecimalFormat("xxxx") ; // xxxx needs to be replaced
return name + "\n" + major + "\n" + df.format(gpa) + "\n" + hours
}
}
-Which of the following could be used to instantiate a new Student s1?

• A) Student s1 = new Student( );
• B) s1 = new Student( );
• C) Student s1 = new Student("Jane Doe", "Computer Science", 3.333, 33);
• D) new Student s1 = ("Jane Doe", "Computer Science", 3.333, 33);
• E) new Student(s1);

Understand the concept of comparative advantage and its implications for international trade.

Identify the effects of international trade on producer and consumer surplus.

Grasp the economic implications of autarky versus engaging in international trade.

Understand the Heckscher-Ohlin model and its predictions about trade patterns based on factor endowments.

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Definitions:

Price Floor

A price floor is a government- or authority-imposed minimum price set above the equilibrium price, preventing the market price from falling below it.

Shortage

A situation where demand for a product or service exceeds its supply in a market.

Surplus

The amount by which the quantity supplied of a good exceeds the quantity demanded at a specific price.

Price Ceiling

A legal maximum price set below the equilibrium price, preventing sellers from charging more than this amount.