International specialization and trade according to the principle of comparative advantage is mutually beneficial for all economies involved
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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An Engel curve
A. always slopes down for an inferior good. B. may slope up or down for a normal good. C. does not relate to the normal or inferior good concepts. D. always slopes up for an inferior good.
Economics
People who apply for loans know more about their ability to repay the loan than the lenders do. This is an example of:
A. asymmetric information. B. public information. C. a negative externality. D. a community rating.
Economics
The Case-Shiller index is normalized to equal 100 in January
A) 1999. B) 1990. C) 2000. D) 2001.
Economics
Using the above table, the Net Domestic Product (NDP) for the country is
A. 338. B. 84. C. 328. D. 662.
Economics