The situation where a country can produce a good at a lower opportunity cost than another country is called a(n) __________ advantage
A) permanent
B) transitory
C) absolute
D) comparative
E) natural
D
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To cut costs in the face of declining demand and increased competition, many fast food restaurants have focused on reducing:
A) labor costs. B) utility costs. C) paper napkin costs. D) none of the above.
Latin American economies have become relatively more closed to international trade since 1985
Indicate whether the statement is true or false
Supply chain is the entire vertical process of a firm
Indicate whether the statement is true or false
By about 1973, U.S. policymakers had learned that
a. Friedman and Phelps's analysis of inflation and unemployment had been correct. b. the short-run Phillips curve shifts when expectations of inflation change. c. there is no long-run trade-off between inflation and unemployment. d. All of the above are correct.