If one allows natural resources to be a factor of production, then it is possible to explain the Leontief Paradox for the United States on the grounds that U.S. imports are natural resource intensive
Indicate whether the statement is true or false
TRUE
Explanation: This is essentially Vanek's argument.
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Use the following graph for a perfectly competitive firm generating a loss in the short run to answer the next question.
Which area in the graph represents the loss generated by the firm?
A. bcde B. 0beg C. abef D. acdf
Workers, rather than firms, bear most of the burden of the payroll tax
a. True b. False Indicate whether the statement is true or false
Over the past fifty years, the proportion of women in the workforce has ______.
a. increased dramatically b. increased slightly c. remained steady d. decreased slightly
According to the equation of exchange, the total amount of funds spent on final ______ is equal to the total amount of funds received for the final ______.
a. output; input. b. output; output. c. input; output d. input; input