In reality international trade is determined solely by comparative advantage and the free market forces of supply and demand
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Give an example of a cyclically unemployed person
What will be an ideal response?
Economics
Explain the law of demand. What does it imply about the shape of the demand curve?
What will be an ideal response?
Economics
Which of the following would increase prices for U.S. consumers?
a. a tariff on imported automobiles b. an automobile import quota c. a foreign government subsidizing auto production d. (a) and (b) above only
Economics
Most games are ______ games in which each firm sets its own ______ without consulting other firms.
a. non-cooperative; binding contract b. cooperative; binding contract c. cooperative; price d. non-cooperative; price
Economics