A Federal Reserve publication proclaimed that "Trade is a win-win situation for all countries that participate." This statement is
A) false since it ignores the workers who lose their jobs as result of international trade.
B) false since not all countries participate in international trade.
C) true because it refers to countries; individuals may be losers as a result of international trade.
D) true because all consumers and workers benefit from international trade.
Answer: C
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International trade on the basis of comparative advantage maximizes world output and allows consumers to access better-quality products at lower prices than would be available in the domestic market alone
a. True b. False Indicate whether the statement is true or false
Ashley was being treated unfairly by her boss, so she stormed off the job and two days later found another position. For two days, Ashley experienced
a. cyclical unemployment. b. structural unemployment. c. seasonal unemployment. d. frictional unemployment. e. being out of the labor force.
What makes it possible for a country to maintain a constant debt-to-GDP ratio and still have continual deficits is:
A. positive private savings. B. trade surpluses. C. real economic growth. D. continual inflation.
Economics seeks to use only positive analysis to
A. provide normative values. B. explain what is wrong with people. C. provide a value-free analysis. D. seek the best answer.