The principles of comparative advantage and specialization only apply to trade between different nations
Indicate whether the statement is true or false
FALSE
You might also like to view...
Refer to Table 18.1. M2 in this simple economy equals
A) $1,050. B) $4,050. C) $4,550. D) $5,100.
The (false) idea that an industry should be protected because of learning-by-doing until it is large enough to compete successfully in world markets is the ________ argument for protection
A) cheap foreign labor B) infant industry C) dumping D) comparative advantage
Suppose you inherit an orange orchard and it generates an annual return of $16,000 . You want to sell it. The interest rate is 8 percent. What should you expect to receive for it?
a. $1,280 b. $2,400 c. 200,000 d. 192,000 e. not enough information is given
A movement upward along a given aggregate demand curve is equivalent to a(n):
A. Increase in aggregate supply B. Increase in aggregate demand C. Upward shift in the aggregate expenditures schedule D. Downward shift in the aggregate expenditures schedule