Firms that are engaging in persistent dumping need to be able to prevent resale between the foreign and domestic markets.
Answer the following statement true (T) or false (F)
True
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If the stock of physical capital (that is machinery, equipment, etc.) and human capital remains the same and the population increases, then
A) labor productivity will increase. B) labor productivity will decrease. C) real GDP decreases. D) the new labor will be more productive. E) the standard of living will increase.
A firm’s demand curve can be used to determine average revenue.
Answer the following statement true (T) or false (F)
In evaluating tax policy it is important to view tax policy as being designed by a benevolent overseer
a. True b. False
When countries specialize in producing those goods in which they have ________, they maximize their combined output and allocate their resources more efficiently.
A. a greater demand B. export subsidies from the government C. an absolute advantage D. a comparative advantage