If a nation imports a good that can be domestically produced, what happens to the quantity consumed of the good and why? the quantity consumed decreases because the market price decreases. the quantity consumed increases because the market price decreases. the quantity consumed remains constant because the price is unchanged. the quantity consumed decreases because the market price increases. the quantity consumed increases because the nation produces more of the good.

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?

What do you think: would it be more profitable to own 200 shares of penny’s pickles or 1 share of exxon? why do you think that?

By which distribution system is more than 90 percent of u.s. coal shipped? a. pipelinesb. trucksc. waterwaysd. railroadse. none of the above