Total government expenditure as a percentage of GDP is lower in the United States than in Sweden
a. True b. False
a
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It is relatively easy for a firm to enter a perfectly competitive market.
Answer the following statement true (T) or false (F)
The Ability-to-pay Principle
What will be an ideal response?
The IMF uses the quota system to determine how much a country may borrow from the Fund.
a. true b. false
Suppose that opportunity costs are constant in both France and Italy. In France, maximum feasible hourly production levels are either 3 units of wheat or 5 units of wine. In Italy, maximum feasible hourly production levels are either 4 units of wheat or 10 units of wine. It is correct to state that
A. Italy has an comparative advantage in producing both wheat and wine. B. France has a comparative advantage in producing both wheat and wine. C. France has a comparative advantage in producing wine. D. Italy has a comparative advantage in producing wine.