If country A can produce both goods X and Y more efficiently, that is, with smaller absolute amounts of resources, than can country B:
A. mutually advantageous specialization and trade between A and B may still be possible.
B. we can conclude that A is an industrially advanced economy and B is a developing
economy.
C. it will necessarily be advantageous for B to import both X and Y from A.
D. then there is no possible basis for mutually advantageous specialization and trade between
A and B.
A. mutually advantageous specialization and trade between A and B may still be possible.
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Unreimbursed medical expenses in excess of 8.5% of AGI are tax deductible.
A. True B. False C. Uncertain
The ability of an individual to own and exercise control over scarce resources is called
a. market failure. b. property rights. c. externality. d. market power.
Rational expectations theory is based on the assumption that:
A. wages and prices are flexible upward but inflexible downward. B. both product and resource markets are very competitive. C. product markets are competitive, but resource markets are monopolistic. D. both product and resource markets are monopolistic.
The Dow-Jones Industrial Average index is the broadest U.S. stock market index.
Answer the following statement true (T) or false (F)