Countries that engage in trade will tend to specialize in goods in which they have a(n) _____ and will _____ those goods.

EXTRA POINT Q6   The table describes the production of two goods, computers and cell phones, in Canada and the United States. Each country has a linear production possibility frontier with respect to its production of the two goods. The numbers in each column represent the total number of units each country could produce if it used all of its resources to produce the good. If Canada is consuming 20 computers after trade, what is Canada’s feasible amount of phone consumption?  Computers Cell Phones Canada 50 100 United States 25 75  

The most likely reason that the government would implement a _____ is because it feels that the price is too high for _____.

When the Chicago city manager receives complaints that the municipal courts are not fully accessible to individuals with disabilities, the manager responds that the $1 million improvement needed to address the problem will not happen because “that money could be spent building lavatory space for people with disabilities.” Which economic principle does this statement BEST represent?

When the government imposes a tariff on 3D printers, the price of printers rises from PW to P1, and the government revenue is:

EXTRA POINT Q5   The table describes the production of two goods, computers and phones, in Canada and the United States. Each country has a linear production possibility frontier with respect to its production of the two goods. The numbers in each column represent the total number of units each country could produce if it used all of its resources to produce the good. If each country specializes in the good in which it has the comparative advantage, then the price of 6 phones in terms of computer will be: Computers Phones Canada 50 100 United States 25 75

The market for smoothies is in equilibrium, and the price of yogurt (an ingredient in smoothies) rises. In the smoothies market, _____ will _____, _____ the price and _____ the quantity.

Use Figure: Shifts in Demand and Supply III. The figure shows how supply and demand might shift in response to specific events. Suppose a spring frost destroys one-third of the nation’s avocado crop. Which panel BEST illustrates how this event will affect the market for tortilla chips, which is a complement of avocados?

What Doppler measurement does this image most likely represent?

During the Obama administration, the development of low-cost batteries for electric cars received large amounts of federal funding in terms of subsidies. Meanwhile, American households gave a higher priority towards minimizing their environmental impact. Consider the market for zero-emissions electric vehicles where there is an upward-sloping supply curve and a downward-sloping demand curve. Which direction will demand and supply shift?