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Suppose South Africa can produce 6 phones or 3 computers with 1 unit of labor, and Australia can produce 7 phones or 2 computers with 1 unit of labor. If South Africa can trade only with Australia, then the theory of comparative advantage suggests that South Africa should:

Table: iPhone and Apple Watch Production 1 iPhone 1 Apple Watch Chinese labor units 3 3 German labor units 5 4 According to the table on iPhone and Apple Watch production, which statement is TRUE?

Figure A: Supply Right Shift Figure B: Supply Left Shift Which statement is TRUE?

Suppose your teacher finishes class 30 minutes early on the day before an exam. They indicate that you may leave, or you may stay on for an optional study period that will last for the remaining 30 minutes of the scheduled class time. You should:

Figure: Producer Surplus What is the producer surplus at a price of $2 per unit?

Figure: Market Changes If these figures represent the market for sourdough bread in a community, which figure shows the effect of new bakeries opening up in that community?

For an industrialized country experiencing a 3% growth rate in real GDP, what is the MOST likely reason that real GDP per capita is decreasing?

A mother earns $500 during the year by babysitting to supplement her household income but does not report this income when she completes her annual tax return. The production of $500 worth of child care services in this example will:

A country has 24 million people in the labor force, and 21.5 million of them are employed. What is the unemployment rate in this country?

Katrina has invested $1,000 in a mutual fund that will double in 35 years. What interest rate is Katrina earning on this mutual fund?