Use the following information for this question: Belarus: the average amount of leisure per week is 4 hours Romania: the average amount of leisure per week is 8 hours Turkey: the average amount of leisure per week is 15 hours. France: the average amount of leisure per week is 19 hours.    If you know nothing else about these countries, which one would you think has the lowest income per person (lowest wealth)?

Who has the absolute advantage in crane production?

All of the following are true about trade EXCEPT

Use the following information for the next 9 questions.  Assume the following:  It takes the US 300 units of labor to produce one ton of sugar and 1200 units of labor to produce one crane.  It takes Brazil 400 units of labor to produce one ton of sugar and 2000 units of labor to produce one crane.

If a government or central bank creates (prints) a lot of money, which of the following is likely to occur?

All of the following are risks of Federal Reserve and federal government action to moderate recessions EXCEPT

What is the opportunity cost of producing one ton of sugar for the US (in terms of cranes)? Hint: enter your answer with no units and use a decimal if it is a fraction Example: if the answer is 1/8 cranes, enter 0.125

Who has the absolute advantage in sugar production?

What is the opportunity cost of going to K-State? Hint: enter your answer as a number only with no $ sign Example: if the answer is $10,000, enter 10,000

I certify that I received no unauthorized aid on this exam and completed it fully on my own.  I received no assistance from any other person and that I have not used any form of artificial intelligence (AI) in completing this quiz. I understand that if it is discovered that I have used any unauthorized aid (including AI) to assist me in taking this quiz, it will result in an XF for the course.