Most economists support open trade because it increase our choices as consumers, lowers costs for producers, increases competition and innovation, and leads to greater diffusion of technological change
Indicate whether the statement is true or false
TRUE
Economics
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If the Phillips curve represents a "________ relationship," then the trade-off between unemployment and inflation is permanent
A) cyclical B) structural C) frictional D) dynamic
Economics
To determine short-run equilibrium in the economy, we use an aggregate supply curve that is:
a. downward-sloping. b. vertical. c. upward-sloping. d. horizontal. e. parabolic.
Economics
Suppose a consumer is willing to pay $20 for one unit of good X, $10 for a second, and $5 for a third, and the market price is $4. The consumer surplus is:
A. $16. B. $6. C. $1. D. $23.
Economics
Refer to Scenario 9.1. This scenario is an example of a ________ game
A) pure coordination B) chicken C) prisoner's dilemma D) battle of the sexes
Economics