1. The United States has a comparative advantage over Japan in producing beer, but Japan have an absolute advantage over United States in producing beer. If trade in beer is allowed, the United States: A- would have nothing to gain either from exporting or importing beer. B.- will export beer. C. Will either export beer or export sugar, but it is not clear from the given information. D. Will import beer 1.if the marginal physical product (MPP) of one additional unit of labor is 5 units per hour, product price is constant at $6 per unit, and the wage rate is $28 per hour, then, A. The additional unit of labor should be employed B. The additional unit of labor should be not be employed because it cost more than it is worth C.product price must be reduced if profits are to be made D.the employer should lower wages and accept less employment of labor 3. If the marginal physical product (MPP) of one additional unit of labor is 2 units per hour, product price is constant at $4 per unit, and the wage rate is $5 per hour, then A. The additional unit of labor should not be employee d because it cost more than it is worth B.the employer should lower wages and accept less employment of labor C. The additional unit of labor should be employed D.product price must be reduce if profits are to be made 4.if the minimum wage is set above the equilibrium wage which of the following will not happen? A.there will be no unemployment B. Some workers will end up unemployed C.a labor surplus will result D.some workers will end up with higher wages 5. Sometimes, changes in the minimum wages had not effect on the labor market. In order for changes in the minimum wage. To have an effect, it must be set at level: A. Higher than MPP B. Higher than MRP C. Lower than the equilibrium wage D. Higher than equilibrium wage