In recent decades intra-industry trade has become significantly smaller as a percentage of overall trade.
Answer the following statement true (T) or false (F)
False
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If a firm's MRP of capital > MFC, the firm should
a. lower the interest rate b. decrease its quantity demanded of loanable funds c. increase its quantity demanded of loanable funds d. hire more labor e. raise the interest rate
What turns a business cycle into a structural stagnation?
A. Multiple business cycles in a short period of time. B. An upturn that exceeds potential. C. A trough that is lower than the peak. D. A slow upturn that keeps the economy below trend.
Assume a two-country, two-commodity, and two-input model. Let the two countries in this model be the United States and the Rest of the World and the two goods being produced by each of the countries be steel and wheat. The two factors of production used in producing the goods in each country are capital and land. If the United States is capital-abundant and steel production is capital-intensive, the Heckscher-Ohlin model would predict that the United States would
A. export wheat and import steel. B. import both the goods from the Rest of the World. C. export both the goods to the Rest of the World. D. export steel and import wheat.
Productive efficiency is not achieved at any point inside the production possibility curve.
Answer the following statement true (T) or false (F)