A country has an absolute advantage over another if it can produce a good with fewer resources
a. True
b. False
Indicate whether the statement is true or false
True
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Under the _____ arrangement, the exchange rate is adjusted periodically by small amounts at a fixed, pre-announced rate or in response to certain indicators
a. currency board b. crawling peg c. reserve currency d. conventional fixed peg e. independent float
The largest source of revenue for the federal government comes from
A) corporate income taxes B) estate and gift taxes C) individual income taxes D) Social Security and Medicare taxes (FICA)
Summing all of the costs that do NOT change as output varies yields
A. fixed costs. B. implicit costs. C. explicit costs. D. variable costs.
In an options contract, another name for the strike price is the
A) market price. B) exercise price. C) equilibrium price. D) fixed price.