Free trade allows the people of a country to consume outside their production possibility frontier.
Answer the following statement true (T) or false (F)
True
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According to Keynes, in order to get the economy out of a recession, the government should: a. follow an expansionary fiscal policy
b. encourage firms to export to other nations. c. follow an contractionary fiscal policy. d. follow a contractionary monetary policy. e. not interfere in the market and let the market system heal itself.
"Monopolists do not worry about efficient production and cost saving since they can just pass along any increase in costs to their consumers." Is this statement true? Explain your answer
Most studies have found that tobacco and marijuana are complements rather than substitutes
a. True b. False Indicate whether the statement is true or false
Due to an increase in the birthrate, the Solid Wood Furniture Company expects an increase in the sale of its cribs over the next few years. The Solid Wood Furniture Company will most likely
A. not change its current investment plans, but plan to increase investment in the future. B. decrease current production so that it can increase production in the future. C. increase current production. D. keep current production constant, but plan to increase production in the future.