People usually migrate within their own country more readily than they emigrate abroad.
Answer the following statement true (T) or false (F)
True
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Refer to Table 19-18. What is real GDP in 2016, using 2016 as the base year?
A) $28,885 B) $11,790 C) $11,200 D) $10,275
Refer to the accompanying figure. If this restaurant goes from producing 20 to 25 pizzas per hour, then which of the following statements is true?
A. It has to give up exactly 25 salads. B. It has to give up exactly 12.5 salads. C. It has to give up more than 12.5 salads. D. It has to give up fewer than 12.5 salads.
The theory of comparative advantage suggests that nations should produce a good if they:
A. have the lowest opportunity cost. B. have the lowest wages. C. have the most resources. D. can produce more of the good than any other nation.
Expectations are hard to test even though economists know the model the public uses when forming expectations.
Answer the following statement true (T) or false (F)