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1 What is the main factor in the Free Foreign Trade balance but not in the balance of Otarchy? Please choose one: a
1
What is the main factor in the Free Foreign Trade balance but not in the balance of Otarchy? Please choose one: a. Marginal Substitution Rate is greater than Marginal Conversion Rate as absolute value b. Absolute Advantages valid c. Differentiation of Consumption Balance and Production Balance D. None to. Marginal Conversion Rate is greater than Marginal Substitution Rate as absolute value
2
Aaron's Bike Shop orders 800 new bikes at the beginning of the year but only sells 650 by the end of the year. How are the 150 unsold bikes accounted for in gross domestic product? Select one: a. They will be included in the inventory investment category of GDP. b. They will be included in the nondurable consumption category of GDP. c. They will be included in the residential investment category of GDP. d. They will be included in the durable consumption category of GDP. e. They will be included in the government spending category of GDP.
Expert Solution
1
Answer (.b.) absolute advantages valid
The biggest constraint in the free foreign trade balance is absolute advantages valid, which is not within the purview of the altercai
2
Units that are produced in a given year and left unsold till later years are included in inventory investment. Thus, 150 unsold bikes in that year will be included in inventory investment.
Option A is correct.
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