(Table: Production Possibilities for the United States and Canada) Use Table: Production Possibilities for the United States and Canada.Both nations can produce cars and lumber.If these nations trade,Canada has the comparative advantage in _____ and should trade _____ to the United States in exchange for _____.
A) cars;cars;lumber. B) lumber;lumber;cars C) lumber;cars;lumber D) cars;lumber;cars
In the design of public policy to reduce energy consumption, a good idea would be to:
A) let consumers learn about the benefits and take the necessary actions to reduce energy consumption. B) educate consumers. C) maintain the traditional approach of imposing corrective fees. D) ration energy supply.
In recording the cost of goods sold for cash, based on data available from perpetual inventory records, the journal entry is
A) debit Cost of Goods Sold; credit Sales B) debit Cost of Goods Sold; credit Inventory C) debit Inventory; credit Cost of Goods Sold D) debit Accounts Receivable; credit Inventory