If country A produces S at a lower relative price than country B, A is said to have a comparative advantage in S
Indicate whether the statement is true or false
TRUE
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The implication of Say's law is that
A) a barter economy is the most efficient economy. B) increased consumption today leads to increased production tomorrow. C) overproduction in a market economy is not possible. D) Gross Domestic Product is the same whether we use the expenditure approach or the income approach.
A 91-day $10,000 Treasury bill is selling for $9,000. The bill's yield on a discount basis is __________ percent
A) 3.36 B) 3.96 C) 7.91 D) 10.0
Make use of a T-account to show the effect of the Fed's purchase of $5 billion worth of foreign government securities on the Fed's balance sheet (note: assume the Fed writes a check to purchase the securities)
What will be an ideal response?
List some of the problems that may arise when prices are controlled