If a country produces only two goods, it is possible to have an absolute advantage in the production of both goods
Indicate whether the statement is true or false
TRUE
You might also like to view...
The purpose of a chain-weighted price index is to account for:
A) the costs of purchasing wholesale products like chains and industrial goods. B) the changes in the quantities of goods and services purchased over time. C) linkages in price changes among industrialized countries. D) none of the above
A shortage means that the quantity demanded is greater than the quantity supplied at the prevailing price
a. True b. False Indicate whether the statement is true or false
If the required reserve ratio in an economy is equal to 10 percent and Bank A receives $100,000 as deposits, then Bank A would _____ in order to make profits
a. keep $90,000 in reserves and loan out $10,000 b. keep $10,000 in reserves and loan out $90,000 c. keep the entire amount in reserves and charge a high fee on withdrawal d. loan out the entire amount at the prevailing rate of interest
Which international relations theory supports the idea that it wouldn't matter who the hegemon is in a new world system?
a. constructivist theory b. realist theory c. feminist theory d. liberal theory