If the United States Decides to Trade with Yemen,we Know

question 57

Multiple Choice

If the United States decides to trade with Yemen,we know that

• A)Yemen will benefit,but trade with a less developed country could not benefit the United States.
• B)it will not benefit Yemen because workers in the United States are more productive.
• C)Yemen and the United States can both benefit.
• D)it will not benefit either country because their cultural differences are too vast.

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Definitions:

Utility Function

A mathematical model in economics that represents a consumer's preference ordering over a set of goods or services.

Utility Function

A mathematical representation of how consumers rank different bundles or combinations of goods and services according to the level of satisfaction or utility those combinations provide.

Paasche Price Index

An economic measure that calculates the change in the cost of acquiring a given basket of goods and services in the current period compared to a base period, using the current period quantities as weights.

Doggerel

A term used to describe poetry that is irregular in rhythm, rhyme, or is of a trivial or low quality.