A nation must have an absolute advantage in order to have a comparative advantage in producing a good or service
Indicate whether the statement is true or false
FALSE
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What factors constitute the primary determinants of income?
What will be an ideal response?
Officers of five large building-materials companies meet and agree than none of them will submit bids on government contracts lower than an agreed-upon level. This is an example of:
a. price fixing. b. vertical restriction. c. a tying contract. d. an interlocking directorate.
Recycling rates for aluminum, paper, and glass have been increasing in the United States
a. True b. False Indicate whether the statement is true or false
Other things the same, an economy's factors of production are likely to be used more effectively if there is an economywide respect for property rights
a. True b. False Indicate whether the statement is true or false