If country A has a comparative advantage in the production of good X over country B, then
A. country A also has an absolute advantage in the production of this good.
B. the opportunity cost of producing X in country A is higher than in country B.
C. the opportunity cost of producing X in country A is lower than in country B.
D. the opportunity cost of producing X in country A is higher or lower than in country B.
C. the opportunity cost of producing X in country A is lower than in country B.
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A voluntary export restraint occurs when one country prevents a specific product from being imported from another country
Indicate whether the statement is true or false
The supply curve of a perfectly competitive firm in the short run is
A) the portion of the firm's marginal cost curve above the minimum point of the average total cost curve. B) the firm's average variable cost curve. C) the portion of the firm's marginal cost curve above the minimum point of the average variable cost curve. D) the portion of the firm's marginal cost curve below the minimum point of the average variable cost curve.
Inheritance taxes tend to increase income inequality in the long run
a. True b. False Indicate whether the statement is true or false
Because of __________, an increase in the saving rate leads to higher growth of income and productivity only for a while
Fill in the blank(s) with correct word