Most international trade takes place between countries that are far away from each other
Indicate whether the statement is true or false
FALSE
You might also like to view...
Which countries had double digit inflation rates for most of the first decade in the twenty-first century?
a. Nigeria, Turkey, Venezuela, Myanmar b. Indonesia, Iran, Belarus, the Russian Federation c. Nigeria, Indonesia, the Russian Federation, Turkey d. Indonesia, Iran, Nigeria, the Russian Federation
The PPF between goods X and Y will be a downward-sloping
A) straight line if increasing opportunity costs exist. B) straight line if decreasing opportunity costs exist. C) curve that is bowed outward if increasing opportunity costs exist. D) curve that is bowed outward if constant opportunity costs exist.
Please refer to the following diagram. 
A horizontal interpretation of the demand curve for a product
A. stipulates price as the independent variable in the price quantity relationship. B. indicates that a buyer can buy all she/he wants to buy at a given price. C. indicates that a seller can sell all he/she wants to sell at the given price. D. tells what prices would be required to sell various quantities of output.
The Great Recession is remembered by most economists as a period of
A. hyperinflation. B. high rates of unemployment. C. price controls and low inflation. D. the inability of the Federal Reserve to assist the financial system.