Environmental problems occur exclusively in capitalist economies
a. True
b. False
Indicate whether the statement is true or false
False
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The ratio of a country's average export price to its average import price is
(a) its absolute advantage. (b) its comparative advantage. (c) its terms of trade. (d) its exchange rate.
For which of the following is the law of one price least likely to hold?
A) Haircuts B) Gold C) US Treasury Bonds D) Petroleum
The real wage denotes
A) the number of units of consumption goods that can be exchanged for one unit of labor time. B) the number of units of labor time that can be exchanged for one unit of consumption goods. C) the number of units of labor time that can be exchanged for one unit of leisure time. D) the number of units of leisure time that can be exchanged for one unit of labor time.
National defense and coastal lighthouses are examples of
a. public goods. b. private goods. c. high marginal cost goods. d. depletable goods.