If Country A has an absolute advantage over Country B in the production of every commodity:
A. mutual gains from trade between Country A and Country B would be impossible.
B. Country B would be able to gain from trade but not country A.
C. the joint output of the two countries could not be increased through specialization and exchange.
D. mutual gains from trade would still be possible.
Answer: D
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Refer to the scenario above. Which country is likely to have the highest rate of poverty?
A) Techland B) Ritzland C) Neoland D) Eduland
The full minutes of FOMC meetings are
A) released to the public immediately after the meeting. B) released to the public only after the next meeting. C) never released to the public. D) always geared towards controlling inflation.
Because its market share is insignificant, a perfectly competitive firm faces an inelastic demand curve
Indicate whether the statement is true or false
City streets, sewage systems, and police protection are all examples of
a. public goods b. private goods c. exclusive goods d. rival goods e. consumer goods