Mutual recognition is more efficient than other approaches to setting standards
Indicate whether the statement is true or false
FALSE
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Refer to Table 2-2. Assume Nadia's Neckware only produces ascots and bowties. A combination of 24 ascots and 12 bowties would appear
A) along Nadia's production possibilities frontier. B) inside Nadia's production possibilities frontier. C) outside Nadia's production possibilities frontier. D) at the horizontal intercept of Nadia's production possibilities frontier.
Present value:
A. is always greater than the future value of money. B. does not account for inflation. C. is how much an amount of money obtained in the future is worth today. D. All of these statements are true.
If the production of a good creates large spillover benefits on others, the government might correct for the:
a. overallocation of resources to its production by subsidizing it b. overallocation of resources to its production by imposing a tax on it. c. underallocation of resources to its production by subsidizing it. d. underallocation of resources to its production by imposing a tax on it.
If the dollar-peso exchange rate is 0.01 dollars per peso, what is the rate of pesos per dollar?
a. 1 peso/dollar b. 10 pesos/dollar c. 0.1 peso/dollar d. 1,000 pesos/dollar e. 100 pesos/dollar