The principles of comparative advantage and specialization only apply to trade between different nations

Indicate whether the statement is true or false


FALSE

Economics

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Refer to Table 18.1. M2 in this simple economy equals

A) $1,050. B) $4,050. C) $4,550. D) $5,100.

Economics

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

Economics

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

Economics

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

Economics