Convergence theory seems to fit the experiences of China and India since 1996.
Answer the following statement true (T) or false (F)
True
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The idea that because of scarcity, producing more of one good or service means producing less of another good or service refers to the economic concept of
A) trade-off. B) equity. C) efficiency. D) optimization.
Business cycles are a persistent feature of the U.S. economy
a. True b. False Indicate whether the statement is true or false
Asymmetric information in financial markets is a potential problem usually resulting from:
A. lenders having more information than borrowers. B. the fact that people are basically dishonest. C. the uncertainty about Federal Reserve monetary policy. D. borrowers having more information than the lenders.
Figure 18.1Refer to Figure 18.1. After trade begins, ________ will specialize in the production of bicycles and ________ will specialize in the production of hang gliders.
A. the United States.; the United States B. the United States; Canada C. Canada; the United States D. Canada; Canada